Merck & Co (NYSE:MRK) saw its stock sink over 8% in pre-market today after delivering mixed fourth-quarter results, with earnings missing expectations, revenue exceeding forecasts, and full-year guidance coming in below analyst estimates.
For Q4, the pharmaceutical giant reported adjusted earnings per share (EPS) of $1.72, falling short of the $1.81 consensus estimate. However, revenue climbed 7% year-over-year to $15.6 billion, surpassing projections of $15.47 billion. Excluding foreign exchange impacts, revenue rose 9%.
Merck’s 2025 outlook disappointed investors, with adjusted EPS guidance of $8.88 to $9.03, below Wall Street’s forecast of $9.21. The company also anticipates full-year revenue between $64.1 billion and $65.6 billion, missing the consensus estimate of $67.36 billion.
For the full year 2024, Merck posted $64.2 billion in worldwide sales, reflecting 7% annual growth—or 10% on a constant currency basis. The company’s flagship cancer treatment, KEYTRUDA, remained a key driver, with sales surging 18% to $29.5 billion.