Merck & Co., Inc. Q3 2026 Earnings Recap

MRK Q3 2026 Published October 30, 2026

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Merck shares rose 3.7% after earnings. Third-quarter revenue increased 5% to $18.1 billion, supported by new products and oncology and animal health, while KEYTRUDA growth was 6% and the transcript flags a fourth-quarter unwind of higher channel inventory.

Earnings Per Share Beat

$2.49 vs $2.09 est.

+19.1% surprise

Revenue Beat

18085000000 vs 17330810000 est.

+4.4% surprise

Market Reaction

Post-Earnings +3.69%

Oct 30 to Nov 6 -1.88%

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Key Takeaways

Total revenue was $18.1 billion, up 5% year over year, or 4% excluding foreign exchange.
KEYTRUDA-family sales rose 6% to $8.6 billion, driven by earlier-stage cancers and continued demand in metastatic indications; higher channel inventory is expected to unwind in Q4.
KEYTRUDA QLEX generated $830 million in sales, with adoption increasing.
WELIREG sales increased 58% to $370 million, while Gardasil sales rose 14% to $2 billion, including an 18% increase in the U.S. that benefited from a significant CDC purchase.
CAPVAXIVE sales were $263 million, up 7% overall, but U.S. sales declined 13% as lower adult pneumococcal vaccination rates outweighed market-share gains.

This summary was generated by AI from the official earnings call transcript and is provided for informational purposes only. It does not constitute financial advice. For the complete transcript and financial data, visit MRK on AllInvestView.

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