| MRK |
Report |
Total Revenue (Q2 2026) |
BEAT |
pred ~$16.55B vs. cons $16.35B |
MEDIUM |
| MRK |
Report |
Non-GAAP EPS (Q2 2026, ex/incl Terns charge) |
BEAT |
pred ~-$0.18 vs. cons -$0.27 |
MEDIUM |
| MRK |
Report |
Keytruda + Keytruda Qlex sales (Q2 2026) |
BEAT |
pred ~$8.20B vs. cons $8.05B |
MEDIUM |
| MRK |
Guide |
FY2026 Revenue guidance (updated to include Terns) |
UNCHANGED |
guide ~$66.4B vs. cons $66.4B (FY2026) |
MEDIUM |
| MRK |
Guide |
FY2026 Non-GAAP EPS guidance (updated to include Terns dilution) |
LOWER |
guide ~$4.92 vs. cons $5.10 (FY2026) |
MEDIUM |
| MRK |
Guide |
Keytruda Qlex quarterly sales trajectory |
BETTER |
guide ~$365M vs. cons $334M (Q2 2026) |
MEDIUM |
| MRK |
Return |
Day-1 residual (stock − beta × S&P 500) |
+0.8% |
— |
MEDIUM |
| MRK |
Return |
5-day cumulative residual |
-0.4% (FADE) |
Initial relief that the reported loss is a known M&A-charge artifact and that Keytruda/Qlex/Lipfendra trends are intact should drive a modest positive day-1 pop, but the newly incorporated Terns dilution (~$0.12/share ongoing drag) plus reaffirmed-not-raised full-year EPS guidance means sell-side models will mechanically trim out-year (2026-2027) EPS even after a headline beat, causing estimate revisions to drift lower over the following days and eroding the initial gain as analysts update FY2026/2027 EPS bridges for the closed Terns deal. |
LOW |