Merck Q3 beats: rev $15B, non-GAAP EPS $1.85; raises FY outlook; Davis to become Chairman

Merck & Co., Inc.

2022-Q3 EPS reported $4.53 revenue$45,453,000,000

Q3 revenue $15.0B (+14% YoY); GAAP EPS $1.28, non-GAAP EPS $1.85 (+4% from $1.78).
KEYTRUDA sales $5.4B (+20%), GARDASIL sales $2.3B (+15%); LAGEVRIO contributed $436M.
Raises FY2022 sales outlook to $58.5-59.0B (growth 20-21%); non-GAAP EPS guidance raised to $7.32-7.37.
Executive Chairman Kenneth Frazier to retire Nov 30; CEO Robert Davis elected Chairman effective Dec 1.

item 2.02 item 5.02 item 9.01

Executive movements

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Departed

Kenneth C. Frazier

Executive Chairman

MRK · Merck & Co., Inc.

Effective: 2022-11-30
Successor: Robert M. Davis
Filed: October 27, 2022, 7:59 PM ET

Kenneth C. Frazier, the Executive Chairman of Merck’s Board of Directors (the “Board”) will retire from the Board, effective November 30, 2022.

Appointed

Robert M. Davis

Chairman of the Board

MRK · Merck & Co., Inc.

Effective: 2022-12-01
Filed: October 27, 2022, 7:59 PM ET

the Board unanimously elected Robert M. Davis, Merck’s current Chief Executive Officer and President as well as a Director on the Board to serve as Chairman of the Board, effective December 1, 2022.

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Merck & Co., Inc. updated its the third quarter of 2022 guidance (raised).

Period: the third quarter of 2022
Guidance: raised
Result: reported results

Exact text from the filing

Incorporated by reference is a press release issued by Merck & Co., Inc. (“Merck”) on October 27, 2022, regarding earnings for the third quarter of 2022

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Kenneth C. Frazier departed as Executive Chairman at Merck & Co., Inc..

Action: retire
Role: Executive Chairman

Exact text from the filing

Kenneth C. Frazier, the Executive Chairman of Merck’s Board of Directors (the “Board”) will retire from the Board, effective November 30, 2022.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Robert M. Davis was elected as Chairman of the Board at Merck & Co., Inc..

Action: elected
Role: Chairman of the Board

Exact text from the filing

the Board unanimously elected Robert M. Davis, Merck’s current Chief Executive Officer and President as well as a Director on the Board to serve as Chairman of the Board, effective December 1, 2022.

View on SEC.gov

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Merck & Co., Inc. filing history →

Source: SEC EDGAR

accession 0001104659-22-111729

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