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Merck KGaA Q2 earnings rise 23.8% YOY; 2019 outlook confirmed

Merck KGaA said second-quarter preexceptional EPS amounted to €1.54, a gain of 25.2% from €1.23 in the prior-year period.

The S&P Global Market Intelligence consensus normalized EPS for the second quarter was €1.49.

Preexceptional EBITDA totaled €1.14 billion, an increase of 23.8% from €920.0 million in 2018.

The Darmstadt, Germany-based drugmaker's net sales increased 6.9% on an annual basis to €3.97 billion from €3.71 billion.

Net income came to €471.0 million compared with €247.0 million in the second quarter of 2018.

Year-to-date through June 30, the company's preexceptional EPS totaled €2.67, an increase from €2.56 in the prior-year period.

Preexceptional EBITDA was €2.07 billion, a gain from €1.89 billion in the prior-year period.

Year-to-date net sales increased 7.2% year over year to €7.72 billion from €7.20 billion.

Merck said net income came to €659.0 million in the year to June 30, compared with €588.0 million in in the prior-year period.

In reporting results, the company said it expects net sales in the range of €15.30 billion to €15.90 billion for the full year, an affirmation of the previous forecast.

The company also forecasts preexceptional EBITDA in the range of €4.15 billion to €4.35 billion for the full year, in line with the previous forecast. Merck also continues to expect preexceptional EPS of €5.30 to €5.65.

The S&P Global Market Intelligence consensus normalized EPS for the year is €5.55.