Merck KGaA (MRK) Earnings Call Transcripts

Merck KGaA's Latest Earnings Call - Q2 FY2026

In the second quarter of 2026, Merck & Co., Inc. reported revenues of $16.6 billion, a 5% increase year-over-year, driven by strong performance in Oncology and Animal Health. The company posted a loss of $0.13 per share, primarily due to a $2.31 per share charge related to the acquisition of Terns Pharmaceuticals. Management raised full-year revenue guidance to a range of $66.3 billion to $67.3 billion, reflecting confidence in ongoing product launches and pipeline advancements.

Reported metrics

Guidance from management

Management raised full-year revenue guidance to $66.3 billion to $67.3 billion, reflecting a growth outlook of 2% to 4%. EPS guidance is now projected at $2.66 to $2.76, including a significant charge from the Terns acquisition.

What management said

Thank you, Dean. Shirley, we're now ready to begin Q&A. And we kindly request that analysts limit themselves to 1 question today so we can get to as many questioners in the time that we have. Thank you. .

Yes. So let me take the last question first. We have a great partner in Kalun. We see very detailed data and we are very comfortable with the data that they've shown us and it gives us great confidence in moving forward. I would just highlight that some of the data that we saw is why we, for example, moved quickly to endometrial. So we have a lot of confidence in how they run their clinical trials and their data. I f...

What analysts pressed on

Analysts expressed concerns about the impact of increasing operating expenses on margins and the potential for slower adoption of new products like LIPFENDRA in the primary care setting. There were also questions regarding the sustainability of KEYTRUDA's growth as the market matures.

Main topics on the call

• Revenue Growth — Merck reported total revenues of $16.6 billion, a 5% increase year-over-year, with Oncology sales growing 4% to $8.4 billion. CEO Rob Davis stated, "We remain confident in our outlook for the remainder of the year."
• KEYTRUDA Performance — Sales of KEYTRUDA products increased 4%, driven by strong uptake in earlier-stage cancers and robust demand from metastatic indications. Caroline Litchfield noted, "Our broader oncology portfolio delivered another quarte...
• LIPFENDRA Approval — The FDA approved LIPFENDRA, the first oral PCSK9 inhibitor, which is expected to significantly impact cardiovascular treatment. Dean Li highlighted its potential, stating, "LIPFENDRA has the potential to extend the reach...
• Acquisition of Terns Pharmaceuticals — Merck completed the acquisition of Terns Pharmaceuticals, incurring a $5.7 billion charge. This acquisition is expected to strengthen Merck's hematology pipeline, as noted by Rob Davis, who emphasized the importance of "...

Read the full Merck KGaA transcript (Q2 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 177 Merck KGaA earnings call transcripts on record, spanning January 13, 2020 to August 6, 2026. Based on this history, Merck KGaA reports quarterly. The most recent call on file is dated August 6, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

MRK

Exchange

XTRA

Country

DE

Sector

Health Care

Industry

Pharmaceuticals

Calls on record

177

First call

January 13, 2020

Most recent

August 6, 2026

Reporting cadence

quarterly