Merck Q4 2024 Earnings Report

Key Takeaways

Merck reported a 7% increase in fourth-quarter 2024 sales, reaching $15.6 billion, driven by strong performance in oncology and animal health segments. However, challenges in the vaccine segment, particularly with Gardasil in China, impacted overall results.

Total Revenue

$15.6B

Previous year: $14.6B

+6.6%

EPS

$1.72

Previous year: $0.03

+5633.3%

Keytruda Sales

$7.84B

Gardasil Sales

$1.55B

Winrevair Sales

$419M

Merck Revenue

Merck EPS

Forward Guidance

Merck projects 2025 revenue between $64.1 billion and $65.6 billion, with adjusted EPS ranging from $8.88 to $9.03, both below analyst expectations.

Positive Outlook

Strong performance of Keytruda with 19% sales growth.
Animal Health segment showed resilience with 4% growth.
Advancements in late-stage pipeline, including new drug approvals.
Strategic focus on oncology and animal health for future growth.
Commitment to addressing dependency on Keytruda through diversification.

Challenges Ahead

Pause in Gardasil shipments to China due to weak demand.
Withdrawal of $11 billion sales target for Gardasil by 2030.
2025 revenue and EPS guidance below analyst expectations.
Stock experienced significant decline following earnings report.
Investor concerns over growth prospects amid Gardasil challenges.