Merck up in early trade after Q3 beat, narrowing outlook

Merck KGaA

13/11/2025 07:46

** Shares in German healthcare company Merck MRCG.DE are up 3.6% in early Frankfurt trade with brokerage J.P. Morgan pointing to Q3 results outperforming expectations

** Merck reported Q3 earnings before interest, taxes, depreciation and amortisation (EBITDA), adjusted for special items at 1.67 billion euros ($1.95 billion), beating an estimate of 1.56 billion euros seen in a Vara consensus

** The company also narrowed its full-year outlook expecting revenues of 20.8 to 21.4 billion euros from 20.5 to 21.7 billion euros previously

** JPM adds that the company's guidance implies a 1% EBITDA (pre) consensus upgrades

** "Overall, we expect the strong set of results with a 7% EBITDA (pre) beat together with guidance (...) to be seen as a positive today" - JPM

** Up to the previous session's close, shares were down 17.3%​ YTD

($1 = 0.8575 euros)

 (Reporting by Cian Muenster)

 ((Cian.muenster@thomsonreuters.com))