MRK · 8-K · 20260804PR090045

Guidance / Outlook

Merck & Co., Inc. · 2026-08-04 · Importance 80 · Surprise 68 · No source text

Merck raised and narrowed its full-year 2026 worldwide sales outlook to $66.3 billion-$67.3 billion from $65.8 billion-$67.0 billion. The company lowered expected non-GAAP gross margin to approximately 81% from approximately 82% and increased expected non-GAAP operating expenses to $42.0 billion-$42.7 billion, including $9.0 billion of one-time Cidara acquisition R&D charges and $5.7 billion for Terns. Non-GAAP EPS is now expected at $2.66-$2.76, including $3.62 per share for Cidara, $2.31 per share for Terns and approximately $0.12 per share of costs to finance Terns and advance MK-4208. The outlook excludes additional significant potential business-development transactions.

Key facts

• Full-year 2026 expected worldwide sales range narrowed and raised to between $66.3 Billion and $67.3 Billion source
• Now expects full-year non-GAAP EPS to be between $2.66 and $2.76 and outlook includes charges of $2.43 per share for the acquisition of Terns (one-time $2.31 plus approximately $0.12 to finance and advance MK-4208) source
• Non-GAAP EPS prior outlook was $5.04 to $5.16; updated outlook is $2.66 to $2.76 source
• Full-year 2026 non-GAAP EPS now expected to be $2.66 to $2.76 and includes positive FX impact of approximately $0.15 per share at mid-July 2026 exchange rates source

Impact estimates