Merck reports Q1 GAAP loss per share of $1.72 on $16.3B sales; narrows and raises full-year guidance

Merck & Co., Inc.

2026-Q1 EPS reported -$1.72 revenue$16,286,000,000

GAAP EPS loss of $1.72; Non-GAAP EPS loss of $1.28, both include $3.62/share charge for Cidara acquisition.
Total sales $16.3B, +5% YoY; KEYTRUDA sales $8.0B (+12%), WINREVAIR $525M (+88%).
Full-year 2026 sales guidance raised to $65.8B-$67.0B; Non-GAAP EPS guidance raised to $5.04-$5.16.
Announced agreement to acquire Terns Pharmaceuticals; one-time charge ~$5.8B (~$2.35/share) not in guidance.
Animal Health sales $1.8B (+13%); multiple regulatory approvals including IDVYNSO for HIV.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Merck & Co., Inc. reported first quarter of 2026 results: revenue $16,286, net income (4,240), EPS (1.72). Guidance raised.

Period: first quarter of 2026
Revenue: $16,286
Net income: (4,240)
EPS: (1.72)
Guidance: raised
Result: reported results

Exact text from the filing

First Quarter $ in millions, except EPS amounts 2026 2025 Change Change Ex- Exchange Sales $ 16,286 $ 15,529 5 % 3 % GAAP net (loss) income 2 (4,240 ) 5,079 N/M N/M Non-GAAP net (loss) income that excludes certain items 2,3* (3,156 ) 5,611 N/M N/M GAAP EPS (1.72 ) 2.01 N/M N/M

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Source: SEC EDGAR

accession 0001104659-26-052081

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