Merck (MRK) Tops Q1 EPS by 6c; Lowers FY13 EPS Outlook; Boosts Buyback

May 1, 2013 7:03 AM EDT
Merck & Co., Inc. (NYSE: MRK) reported Q1 EPS of $0.85, $0.06 better than the analyst estimate of $0.79. Revenue for the quarter came in at $10.7 million versus the consensus estimate of $11.09 million.

Sees FY2013 EPS of $3.45 - $3.55, versus the consensus of $3.63 and prior expectations of $3.60 to $3.70.

Merck also announced that it authorized additional purchases of up to $15 billion of Merck’s common stock for its treasury. The company expects to repurchase approximately $7.5 billion of common stock over the next 12 months, financed through a combination of debt issuance and operating cash flows, with the remainder to be repurchased over time with no time limit. Purchases may be made in open-market transactions, block transactions on or off an exchange, or in privately negotiated transactions.

For earnings history and earnings-related data on Merck & Co., Inc. (MRK) click here.

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