Merck KGaA shares dented by earnings prediction
German life sciences company Merck KGaA (MRK: DE) suffered a 2% share price decline on Thursday after announcing its quarterly financial results.
The drop in share value was likely caused by Merck’s warning that its 2020 earnings will be limited by the strong restrictions of economic life and declining income in the context of the COVID-19 pandemic, with correspondingly adverse effects on the businesses.
For the first three months of the year, group net sales increased by 16.7% on the same quarter of 2019, rising to 4.4 billion euros ($4.75 billion), while adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) rose by 27.2% to 1.2 billion euros, exceeding an average analyst estimate of 1.1 billion euros in a Refinitiv poll.
This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.
Login to your accountTry before you buy
Free
7 day trial access
- All the news that moves the needle in pharma and biotech
- Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
- Receive The Pharma Letter daily news bulletin, free forever.
Become a subscriber
£820
Or £77 per month
- Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
- Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
- Daily roundup of key events in pharma and biotech.
- Monthly in-depth briefings on Boardroom appointments and M&A news.
- Choose from a cost-effective annual package or a flexible monthly subscription
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed
Chairman, Sanofi Aventis UK
More on this story...
Today's issue
Company Spotlight
More Features in Pharmaceutical
Copyright © The Pharma Letter 2024 | Headless Content Management with Blaze