Merck (MRK) Tops Q3 EPS by 8c, Lifts FY EPS Gudiance

(Updated - October 27, 2017 6:49 AM EDT)

Merck (NYSE: MRK) reported Q3 EPS of $1.11, $0.08 better than the analyst estimate of $1.03. Revenue for the quarter came in at $10.3 billion versus the consensus estimate of $10.55 billion.

Financial Outlook

Merck has narrowed and raised its full-year 2017 GAAP EPS range to be between $1.78 and $1.84. Merck narrowed and raised its full-year 2017 non-GAAP EPS range to be between $3.91 and $3.97, including a less than 1 percent negative impact from foreign exchange at current exchange rates. The non-GAAP range excludes acquisition- and divestiture-related costs, costs related to restructuring programs, a charge related to the formation of the collaboration with AstraZeneca and certain other items.

Merck has narrowed and raised its full-year 2017 revenue range to be between $40.0 billion and $40.5 billion, including a less than 1 percent negative impact from foreign exchange at current exchange rates.

The following table summarizes the company’s 2017 financial guidance.

A reconciliation of anticipated 2017 GAAP EPS to non-GAAP EPS and the items excluded from non-GAAP EPS are provided in the table below.

The expected full-year 2017 GAAP effective tax rate of 24.5 to 25.5 percent reflects an unfavorable impact of approximately 4.5 percentage points from the above items.

(Street sees FY EPS of $3.87 on revenue of $40.32 billion)

For earnings history and earnings-related data on Merck (MRK) click here.

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