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DewDiligence

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DewDiligence

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Re: DewDiligence post# 509

Tuesday, 04/28/2020 3:15:47 PM

Tuesday, April 28, 2020 3:15:47 PM

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MRK cuts 2020 guidance due to heavy reliance on physician/vet-administered products—especially Keytruda, vaccines, and animal-health drugs:

https://www.businesswire.com/news/home/20200428005296/en

Guidance for 2020 non-GAAP EPS was lowered to $5.15-5.37 (from the prior range of $5.62-5.77), an 8% reduction vs prior 2020 guidance and a range of -1% to +3% relative to 2019 non-GAAP EPS.

Foreign-exchange losses (from US-dollar strength vs foreign currencies) contributed materially to the guidance reduction.

1Q20 CC slides:
https://s21.q4cdn.com/488056881/files/doc_financials/2020/q1/MRK-1Q20-Earnings-Deck.pdf

“The efficient-market hypothesis may be
the foremost piece of B.S. ever promulgated
in any area of human knowledge!”

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