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Pharma Earnings: Merck, Pfizer Trade Higher On Q3 Beats

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Pharma Earnings: Merck, Pfizer Trade Higher On Q3 Beats

Merck & Co (NYSE: MRK) and Pfizer (NYSE: PFE) both reported a third-quarter earnings beat Tuesday. 

Merck 

Merck shares were trading higher after the company reported better-than-expected third-quarter EPS and sales results. The company also issued fiscal year 2019 EPS and sales guidance above analyst estimates.

Merck reported third-quarter earnings of $1.51 per share Tuesday, beating the analyst consensus estimate of $1.24. 

The company reported quarterly sales of $12.4 billion, which beat the analyst consensus estimate of $11.63 billion.  

"We achieved another quarter of strong revenue and earnings growth as we continue to realize the benefits of our sustained investment in research and development and our focus on commercial execution," CEO Kenneth Frazier said in a statement. 

"We are confident that the investments we are making now will allow us to convert cutting-edge science into medicines and vaccines of great benefit to patients and value to shareholders."

Merck shares were trading up 2.43% at $84.20 in Tuesday's premarket session. The stock has a 52-week high of $87.35 and a 52-week low of $68.88.

Pfizer

Pfizer shares were trading higher after the company reported better-than-expected third-quarter EPS and sales results. The company also raised its fiscal year 2019 EPS and sales guidance above analyst estimates.

Pfizer reported quarterly earnings of 75 cents per share Tuesday, which beat the analyst consensus estimate of 62 cents. 

The company reported quarterly sales of $12.68 billion, which beat the analyst consensus estimate of $12.26 billion%.  

Pfizer shares were trading 2.87% higher at $38.35 in Tuesday's premarket session. The stock has a 52-week high of $46.47 and a 52-week low of $33.97.

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Posted-In: Biotech Earnings News Guidance General Best of Benzinga

 

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