Q2 FY2026 EarningsQ2 FY26 results presented a significant miss on the bottom line despite a slight revenue beat of $16.61B vs. $16.37B expected. Performance was severely impacted by $14.7B in one-time R&D charges related to the Terns and Cidara acquisitions, leading to a GAAP EPS of -$0.54 and a normalized EPS of -$0.13, both far below consensus. While Oncology (Keytruda up 5%) and Animal Health (up 8%) showed resilience, generic erosion in the Diabetes franchise and lower Gardasil demand in China remain key headwinds.
Financial report interval: 2026.03.30 - 2026.06.30
Overview: Merck(MRK) the Revenue is 16.61 B (+5.07%), Beat estimate;the EBIT is 840 M (-86.8%), Beat estimate;the EPS is -0.54 (-130.7%), Miss estimate.
Actual
YoY
Estimate
YoY
Vs estimate
YoY
RevenueExceed expectations
16.61B5.07%
16.37B3.56%
+0.24B1.51%
EBITExceed expectations
0.84B86.80%
0.61B90.45%
+0.23B3.65%
EPSMiss expectations
-0.54130.68%
-0.3581120.35%
-0.181910.33%
Upcoming earnings report - FY2026 Q3 Earning Release
Available dateOct 29, 2026
Estimate Revenue17.34 B
Estimate EBIT6.864 B
Estimate EPS1.8988
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