The earnings call highlighted several strong performance areas, such as revenue growth driven by KEYTRUDA and animal health, and a robust pipeline expansion. However, challenges in China and the decline in GARDASIL sales, particularly in China, were notable lowlights. Overall, the sentiment leans towards positive due to strong growth drivers and future potential.

Company Guidance

During the Merck Q3 2024 earnings call, the company provided detailed guidance on its financial and strategic outlook. Merck reported a 4% increase in revenues, reaching $16.7 billion, or 7% on a constant currency basis. The growth was primarily driven by a robust performance in oncology, with KEYTRUDA sales increasing 21% to $7.4 billion, and strong growth in the Animal Health segment, which saw an 11% increase in sales. The company expressed confidence in achieving its full-year revenue guidance of $63.6 to $64.1 billion, representing a year-over-year growth of 6% to 7%, despite an anticipated 3% negative impact from foreign exchange. Operating expenses are expected to be between $27.8 billion and $28.3 billion, including a one-time charge related to an asset acquisition. Merck is also focusing on commercial execution and is optimistic about its pipeline and new product launches, including CAPVAXIVE and WINREVAIR, as well as its long-term goal of achieving over $11 billion in GARDASIL sales by 2030. The company remains committed to strategic investments in its pipeline and business development to drive future growth.

Revenue Growth

Merck's revenue increased by 4% or 7% on a constant currency basis, driven by global demand for their innovative portfolio, particularly in oncology and animal health.

KEYTRUDA Performance

KEYTRUDA sales grew by 21% to $7.4 billion, driven by increased uptake in earlier-stage cancers and robust global demand from metastatic indications.

Animal Health Business Growth

Animal Health sales increased by 11%, driven by new product launches and higher demand for poultry and swine products.

Strong Pipeline Expansion

Merck's Phase III pipeline has nearly tripled over the past 3-plus years to more than 20 unique assets, which will fuel substantial new medicine and vaccine launches over the next 5 years.

CAPVAXIVE Approval

CAPVAXIVE, a 21-valent pneumococcal conjugate vaccine, received approval for adults ages 50 to 64, offering a significant commercial potential.

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Merck & Company (MRK) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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MRK Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Feb 04, 2025	2024 (Q4)	1.81 / -	0.03	―	―	―
Oct 31, 2024	2024 (Q3)	1.48 / 1.57	2.13	-26.29% (-0.56)
Jul 30, 2024	2024 (Q2)	2.17 / 2.28	-2.06	210.68% (+4.34)
Apr 25, 2024	2024 (Q1)	1.89 / 2.07	1.4	47.86% (+0.67)
Feb 01, 2024	2023 (Q4)	-0.11 / 0.03	1.62	-98.15% (-1.59)
Oct 26, 2023	2023 (Q3)	1.95 / 2.13	1.85	15.14% (+0.28)
Aug 01, 2023	2023 (Q2)	-2.18 / -2.06	1.87	-210.16% (-3.93)
Apr 27, 2023	2023 (Q1)	1.32 / 1.40	2.14	-34.58% (-0.74)
Feb 02, 2023	2022 (Q4)	1.53 / 1.62	1.8	-10.00% (-0.18)
Oct 27, 2022	2022 (Q3)	1.71 / 1.85	1.75	5.71% (+0.10)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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MRK Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Oct 31, 2024	$104.00	$101.51	-2.39%
Jul 30, 2024	$125.92	$113.57	-9.81%
Apr 25, 2024	$124.41	$128.05	+2.93%
Feb 01, 2024	$117.57	$123.02	+4.64%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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