Merck Backs Full-Year Guidance, Continues to See Pandemic Impact
29 Abril 2021 - 08:37AM
Dow Jones News
By Matt Grossman
Merck & Co. reaffirmed its full-year guidance Thursday,
although the company said it expects the coronavirus pandemic to
continue to have a negative affect on its revenue.
The Kenilworth, N.J.-based pharmaceutical company said it
expects full-year revenue of $51.8 billion to $53.8 billion, and
adjusted earnings of $6.48 to $6.68 a share.
Those guidance ranges are the same as those that Merck issued in
February. Analysts polled by FactSet have been forecasting adjusted
earnings of $6.49 a share, on revenue of $52 billion.
Merck said it expects that the negative impact from the Covid-19
pandemic on its results will persist, especially in the first half
of the year. Overall, the pandemic will have a net unfavorable
effect on 2021 revenue of 3%, the company forecast, with all of
that hit attributable to the pharmaceutical segment.
Merck's guidance ranges assume that its Organon business will be
part of the company for the full year, although Merck plans a
spinoff of Organon effective June 2. If the spinoff occurs, Merck
will update its guidance, the company said.
Write to Matt Grossman at matt.grossman@wsj.com
(END) Dow Jones Newswires
April 29, 2021 07:22 ET (11:22 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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