Merck & Co., Inc.: EPS $2.49 vs $2.09 expected; revenue $18.1B vs $17.3B
Key Facts
Q3 FY2026 results
| Metric | Actual | Estimate | Surprise | Year ago |
|---|---|---|---|---|
| EPS (USD) | 2.49 | 2.09 | +19.1% | 2.58 |
| Revenue (USD bn) | 18.09 | 17.33 | +4.4% | 17.28 |
Recent reports: actual vs estimate
| Reported | Period | EPS (USD) | Estimate | Surprise | Revenue (USD bn) | Estimate | Surprise |
|---|---|---|---|---|---|---|---|
| Oct 29, 2026 | Q3 FY2026 | 2.49 | 2.0900 | +19.1% | 18.09 | 17.33 | +4.4% |
| Aug 4, 2026 | Q2 FY2026 | −0.13 | −0.2705 | +51.9% | 16.61 | 16.37 | +1.5% |
| Apr 30, 2026 | Q1 FY2026 | −1.28 | −1.4700 | +12.9% | 16.29 | 15.85 | +2.8% |
| Feb 3, 2026 | Q4 FY2025 | 2.04 | 2.0100 | +1.5% | 16.40 | 16.20 | +1.2% |
| Oct 30, 2025 | Q3 FY2025 | 2.58 | 2.3600 | +9.3% | 17.28 | 16.98 | +1.8% |
| Jul 29, 2025 | Q2 FY2025 | 2.13 | 2.0300 | +4.9% | 15.81 | 15.86 | −0.4% |
| Apr 24, 2025 | Q1 FY2025 | 2.22 | 2.1300 | +4.2% | 15.53 | 15.34 | +1.2% |
| Feb 4, 2025 | Q4 FY2024 | 1.72 | 1.8500 | −7.0% | 15.62 | 15.48 | +0.9% |
Source: Figures from the EL7 database. Estimates are the analyst consensus carried by our data vendor (FMP), not official figures.
Merck & Co., Inc. results: EPS $2.49 vs $2.09 expected; revenue $18.1B vs $17.3B. The results cover the company's Q3 FY2026. EPS came in above analysts' estimate by 19.1%; revenue above the estimate by 4.4%.
Revenue was up 4.7% from $17.3 billion a year earlier (Q3 FY2025). EPS was down 3.5% from $2.58 a year earlier. On its record, EPS topped analysts' estimates in 6 of 7 earlier comparable reports.
What the results mean
Revenue growth points to expanding sales at Merck & Co., Inc., but the available information does not identify each business's contribution to that growth. Interpreting the results therefore centers on its mix of human medicines, vaccines, and animal health.
The pharmaceutical business is influenced by treatment and prevention needs across areas such as oncology, cardiovascular conditions, and immunology. Animal Health combines veterinary medicines and vaccines with animal identification, traceability, and monitoring solutions, giving the company varied sources of demand across customers and distribution channels.
What to watch on the earnings call: The earnings call merits attention for management's explanation of sales growth drivers, the contributions of medicines, vaccines, and Animal Health, and demand across hospitals, pharmacies, government agencies, and veterinary customers. The effects of product mix and research, development, and manufacturing spending on margins also warrant discussion.
For the full analysis of Merck & Co., Inc. stock — valuation, scores and financial statements — see the stock page linked with this story.