Merck & Co., Inc. (MRK): restructuring charge — Merck reports Q4 GAAP loss of $0.48/share; plans $4B restructuring; FY2024 EPS guidance $8.44-8.59

Merck & Co., Inc.

2023-FY EPS reported $0.14 revenue$60,115,000,000

Q4 2023 GAAP net loss $1.2B ($0.48 loss per share); non-GAAP EPS $0.03, includes $1.69/share Daiichi Sankyo charge.
Full-year 2023 sales $60.1B (+1% YoY); KEYTRUDA $25B (+19%), GARDASIL $8.9B (+29%), LAGEVRIO down 75% to $1.4B.
FY 2024 outlook: sales $62.7-64.2B; non-GAAP EPS $8.44-8.59.
Approved 2024 Restructuring Program with cumulative pretax costs ~$4B; ~60% non-cash; substantially complete by end of 2031.

item 2.02 item 2.05 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Merck & Co., Inc. reported fourth quarter and full year of 2023 results: revenue $14.6 billion.

Period: fourth quarter and full year of 2023
Revenue: $14.6 billion
Result: reported results

Exact text from the filing

Merck Announces Fourth-Quarter and Full-Year 2023 Financial Results - Fourth-Quarter and Full-Year Sales Reflect Sustained Growth Across Oncology and Vaccines - Fourth-Quarter Worldwide Sales Were $14.6 Billion, an Increase of 6% From Fourth Quarter 2022

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Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.9

Merck & Co., Inc. announced a restructuring with charges of approximately $4.0 billion affecting the Company's Human Health global manufacturing network … and also optimize the Animal Health global manufacturing network.

Type: restructuring
Charge: approximately $4.0 billion
Affected area: the Company's Human Health global manufacturing network … and also optimize the Animal Health global manufacturing network

Exact text from the filing

expected to be substantially completed by the end of 2031, with the cumulative pretax costs to be incurred by the Company to implement the program estimated to be approximately $4.0 billion. Approximately 60% of the $4.0 billion will be non-cash, relating primarily to the accelerated depreciation of facilities to be closed or divested; the remainder of the costs

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Merck & Co., Inc. filing history →

Source: SEC EDGAR

accession 0001104659-24-009109

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