Merck raises 2026 non-GAAP EPS outlook to $2.77-$2.82
MRK•Merck raised its 2026 adjusted earnings forecast to $2.77-$2.82 a share from $2.66-$2.76 and narrowed revenue guidance to $66.8 billion-$67.3 billion. The outlook includes a $400 million SciBrunch licensing charge, reducing expected earnings by $0.12 a share.
1. Updated 2026 outlook
Merck raised its 2026 adjusted earnings forecast to $2.77-$2.82 a share from $2.66-$2.76. Revenue guidance narrowed to $66.8 billion-$67.3 billion from $66.3 billion-$67.3 billion, implying growth of 3%-4%.
2. Costs and sales timing
The company lowered its expected tax rate to 32%-33% from 35%-36%, while raising operating expense guidance to $42.4 billion-$42.9 billion. The outlook includes a $400 million SciBrunch licensing charge, which reduces expected earnings by $0.12 a share. Third-quarter sales benefited from roughly $550 million in favorable purchase timing; benefits for KEYTRUDA and WINREVAIR are expected to fully reverse in the fourth quarter.
