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Merck Is Expected to Record Steady Revenue Growth in Q3

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Oct. 15 2018, Updated 10:33 p.m. ET

Revenue trends

Merck has announced it will be presenting its third-quarter revenue and earnings results on October 25. Analysts expect Merck to report revenue of $10.9 billion, primarily supported by Keytruda label expansions, Bridion, and its vaccine portfolio.

In Q2 2018, Merck’s net revenue grew ~5% YoY (year-over-year) from $9.9 billion to $10.5 billion. Its animal health revenue grew ~14% YoY, and the business is expected to continue to boost Merck’s revenue growth in the third quarter. In the second quarter, foreign exchange boosted Merck’s revenue by ~1%.

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Peer comparison

In the second quarter, biopharmaceutical peers Johnson & Johnson (JNJ), Pfizer (PFE), and AbbVie (ABBV) saw their revenue grow ~10.57%, ~4.42%, and 18.92% YoY, respectively, to $20.83 billion, $13.47 billion, and $8.3 billion. Analysts expect JNJ, PFE, and ABBV to report revenue of $20.05 billion, $13.55 billion, and $8.2 billion, respectively, in the third quarter.

Merck’s revenue growth could boost the Health Care Select Sector SPDR ETF (XLV). JNJ, PFE, MRK, and ABBV comprise ~10.30%, ~7.25%, ~5.28%, and ~3.93% of XLV, respectively.

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