NYSE$MRK
Merck & Co. · Q2 2020 earnings
Q2 2020 earnings · · Investor relations
Briefing
Merck's financial performance was impacted by COVID-19 but showed improving business momentum, with strong long-term growth expected due to demand for innovative products.
Merck's second-quarter 2020 earnings were affected by the COVID-19 pandemic, with a negative impact on revenue, particularly in pharmaceuticals and animal health. Despite these challenges, the company saw improved business momentum throughout the quarter and remains confident in its long-term growth prospects, driven by its portfolio of medicines, vaccines, and animal health products. Merck is also actively involved in developing vaccines and antivirals to combat the SARS-CoV-2 pandemic.
- GAAP EPS was $1.18, while non-GAAP EPS was $1.37, excluding certain costs.
- The estimated negative impact of COVID-19 on Merck’s revenue was approximately $1.6 billion.
- Pharmaceutical sales decreased by 7% to $9.7 billion, while Animal Health sales totaled $1.1 billion, a decrease of 2%.
- Growth in oncology was largely driven by higher sales of KEYTRUDA, which grew 29% to $3.4 billion.
Headline financials
Revenue & EPS history
Merck · Revenue · Quarterly
$10.9B
Revenue by segment
Merck · $10.8B total across 2 segments · Q2 2020
- Pharmaceutical$9.7B-7.4%89.8%
- Animal Health$1.1B-1.8%10.2%
Forward guidance
Merck narrowed and raised its full-year 2020 revenue range to be between $47.2 billion and $48.7 billion. Merck narrowed and raised its full-year 2020 GAAP EPS to be between $4.58 and $4.73. Merck narrowed and raised its full-year 2020 non-GAAP EPS to be between $5.63 and $5.78.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2020
-0.4%
Avg return
Earnings day
-0.4%
Avg return
5 days after
+1.4%
Avg return
30 days after
51%
37 / 73 earnings
Positive
+8.0%
Q3 2021
Best reaction
-11.7%
Q3 2017
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +1.0% | +2.0% | +6.9% | |
| Q4 2025 | +2.2% | +7.6% | +2.4% | |
| Q3 2025 | -1.0% | -3.1% | +21.1% | |
| Q2 2025 | +1.2% | +1.0% | +5.2% | |
| Q1 2025 | +1.5% | +7.6% | -1.5% | |
| Q4 2024 | -9.1% | -12.5% | -5.8% | |
| Q3 2024 | -2.8% | -3.0% | -3.0% | |
| Q2 2024 | -11.5% | -9.8% | -8.1% | |
| Q1 2024 | +3.3% | +1.7% | +2.0% | |
| Q4 2023 | +4.7% | +5.1% | +5.1% | |
| Q3 2023 | -0.8% | -0.9% | -1.7% | |
| Q2 2023 | -0.9% | -1.5% | +2.2% | |
| Q1 2023 | +1.8% | +3.9% | -2.1% | |
| Q4 2022 | -3.8% | -1.2% | -0.1% | |
| Q3 2022 | +2.4% | +1.4% | +9.2% | |
| Q2 2022 | -2.1% | -4.0% | -2.2% | |
| Q1 2022 | +5.1% | +3.2% | +10.3% | |
| Q4 2021 | -4.2% | -6.2% | -5.1% | |
| Q3 2021 | +8.0% | +9.2% | -2.9% | |
| Q2 2021 | -1.9% | -2.5% | -2.6% | |
| Q1 2021 | -3.4% | -1.4% | -1.6% | |
| Q4 2020 | -2.0% | -2.9% | -5.4% | |
| Q3 2020 | -3.4% | -4.6% | +1.5% | |
| Q2 2020 | +4.5% | +3.4% | +8.4% | |
| Q1 2020 | -3.8% | -7.5% | -5.9% | |
| Q4 2019 | -3.0% | -3.1% | -7.0% | |
| Q3 2019 | +4.9% | +3.3% | +6.6% | |
| Q2 2019 | +0.6% | +2.4% | +5.1% | |
| Q1 2019 | +2.5% | +4.2% | +3.8% | |
| Q4 2018 | +3.3% | +4.0% | +9.7% | |
| Q3 2018 | -0.2% | +3.3% | +5.9% | |
| Q2 2018 | +1.2% | +2.3% | +7.9% | |
| Q1 2018 | -2.7% | -1.9% | +1.1% | |
| Q4 2017 | -5.8% | -6.6% | -9.2% | |
| Q3 2017 | -11.7% | -10.7% | -12.3% | |
| Q2 2017 | +0.3% | -0.4% | -1.2% | |
| Q1 2017 | +2.0% | +2.5% | +4.6% | |
| Q4 2016 | +3.5% | +3.4% | +7.2% | |
| Q3 2016 | +0.2% | -3.1% | +1.5% | |
| Q2 2016 | +0.4% | -1.3% | +7.6% | |
| Q1 2016 | -2.2% | — | — | |
| Q4 2015 | -3.6% | — | — | |
| Q3 2015 | +4.1% | — | — | |
| Q2 2015 | +2.7% | — | — | |
| Q1 2015 | +4.5% | — | — | |
| Q4 2014 | -3.0% | — | — | |
| Q3 2014 | -3.1% | — | — | |
| Q2 2014 | +0.2% | — | — | |
| Q1 2014 | +3.3% | — | — | |
| Q4 2013 | +0.5% | — | — | |
| Q3 2013 | -2.1% | — | — | |
| Q2 2013 | -0.3% | — | — | |
| Q1 2013 | -2.7% | — | — | |
| Q4 2012 | -5.6% | — | — | |
| Q3 2012 | -1.4% | — | — | |
| Q4 2011 | -1.0% | — | — | |
| Q2 2012 | +2.6% | — | — | |
| Q1 2012 | +2.0% | — | — | |
| Q3 2011 | -1.5% | — | — | |
| Q2 2011 | -1.6% | — | — | |
| Q1 2011 | -0.7% | — | — | |
| Q4 2010 | +0.8% | — | — | |
| Q3 2010 | -1.8% | — | — | |
| Q2 2010 | +0.8% | — | — | |
| Q1 2009 | -0.1% | — | — | |
| Q1 2010 | +0.1% | — | — | |
| Q4 2009 | +1.4% | — | — | |
| Q4 2007 | +1.4% | — | — | |
| Q3 2009 | -3.5% | — | — | |
| Q3 2008 | -3.5% | — | — | |
| Q2 2008 | +1.7% | — | — | |
| Q2 2009 | +1.7% | — | — | |
| Q4 2008 | +1.7% | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro