Merck Q1 2020 Earnings Report
Key Takeaways
Merck's Q1 2020 showed a strong performance driven by oncology and vaccines, with revenue increasing by 10% to $10.7 billion. GAAP EPS was $1.26, and non-GAAP EPS was $1.50. The company anticipates an unfavorable impact to revenue of approximately $2.1 billion for the full year due to COVID-19.
First-quarter pharmaceutical sales increased 10% to $10.7 billion.
KEYTRUDA sales grew 45% to $3.3 billion.
Animal Health sales totaled $1.2 billion, an increase of 18%.
GAAP EPS was $1.26 for the first quarter of 2020, while non-GAAP EPS was $1.50.
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Forward Guidance
Merck lowered its full-year 2020 revenue range to be between $46.1 billion and $48.1 billion. Merck lowered its full-year 2020 GAAP EPS to be between $4.12 and $4.32. Merck lowered its full-year 2020 non-GAAP EPS to be between $5.17 and $5.37.