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Merck KGaA books 13.7% drop in Q2 profit, raises 2018 sales guidance

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Merck KGaA books 13.7% drop in Q2 profit, raises 2018 sales guidance

Merck KGaA reported second-quarter pre-exceptional earnings per share of €1.23, down 18.5% year over year from €1.51.

The S&P Global Market Intelligence consensus normalized EPS estimate is €1.30.

The Darmstadt, Germany-based pharmaceutical company said pre-exceptional EBITDA totaled €920.0 million, a decline of 13.7% from €1.07 billion in the year-earlier period.

Net sales came to €3.71 billion, compared with €3.69 billion in the prior-year period, and group EBIT declined 35.5% on an annual basis to €392.0 million from €608.0 million.

Net income totaled €247.0 million compared with €426.0 million in the prior-year period.

Factoring in the company's divestment of its consumer health unit, the company forecasts net sales in the range of €14.10 billion to €14.60 billion for the full year, an increase from previous guidance in the range of €14.00 billion to €14.50 billion. The consumer health business is now listed by Merck KGaA as a discontinued operation.

With the divestment, the company still expects pre-exceptional EBITDA in the range of €3.75 billion to €4.00 billion for the full year.