Merck Earnings Top Estimates. Why the Stock Is Falling. -- Barrons.com

Dow Jones19:48

By Mackenzie Tatananni

Merck stock declined Tuesday even after the pharmaceutical giant posted better-than-expected earnings for the fourth quarter. A glaring flaw in the print was weighing on shares.

Merck posted adjusted earnings of $2.04 a share and sales of $16.4 billion, ahead of the profit of $2.01 and revenue of $16.2 billion analysts had projected. The company pointed to strength in its oncology, respiratory, and cardiometabolic businesses, which was partially offset by weakness in vaccines.

However, Merck's 2026 forecast fell short of consensus views. For the full year, Merck expects adjusted earnings in the range of $5 to $5.15 a share. Wall Street was looking for $5.27 a share. The company expects sales between $65.5 billion to $67 billion, below analysts' calls for $67.4 billion at the midpoint. The outlook includes a one-time charge of $3.65 a share related to the takeover of Cidara Therapeutics, Merck said.

Shares declined 1.7% in premarket trading following the report. Futures tracking the benchmark S&P 500 were up slightly.

Write to Mackenzie Tatananni at mackenzie.tatananni@barrons.com

This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.

(END) Dow Jones Newswires

February 03, 2026 06:48 ET (11:48 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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The company pointed to strength in its oncology, respiratory, and cardiometabolic businesses, which was partially offset by weakness in vaccines. \n</p>\n<p>\n  However, Merck's 2026 forecast fell short of consensus views. For the full year, Merck expects adjusted earnings in the range of $5 to $5.15 a share. Wall Street was looking for $5.27 a share. The company expects sales between $65.5 billion to $67 billion, below analysts' calls for $67.4 billion at the midpoint. The outlook includes a one-time charge of $3.65 a share related to the takeover of Cidara <a href=\"https://laohu8.com/S/LENZ\">Therapeutics</a>, Merck said. \n</p>\n<p>\n  Shares declined 1.7% in premarket trading following the report. Futures tracking the benchmark S&amp;P 500 were up slightly. \n</p>\n<p>\n  Write to Mackenzie Tatananni at mackenzie.tatananni@barrons.com \n</p>\n<p>\n   This content was created by Barron's, which is operated by Dow Jones &amp; Co. 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A glaring flaw in the print was weighing on shares. \n\n\n  Merck posted adjusted earnings of $2.04 a share and sales of $16.4 billion, ahead of the profit of $2.01 and revenue of $16.2 billion analysts had projected. The company pointed to strength in its oncology, respiratory, and cardiometabolic businesses, which was partially offset by weakness in vaccines. \n\n\n  However, Merck's 2026 forecast fell short of consensus views. For the full year, Merck expects adjusted earnings in the range of $5 to $5.15 a share. Wall Street was looking for $5.27 a share. The company expects sales between $65.5 billion to $67 billion, below analysts' calls for $67.4 billion at the midpoint. The outlook includes a one-time charge of $3.65 a share related to the takeover of Cidara Therapeutics, Merck said. \n\n\n  Shares declined 1.7% in premarket trading following the report. Futures tracking the benchmark S&P 500 were up slightly. \n\n\n  Write to Mackenzie Tatananni at mackenzie.tatananni@barrons.com \n\n\n   This content was created by Barron's, which is operated by Dow Jones & Co. 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