Merck raises 2026 guidance after Q3 beat on Keytruda and vaccines
Oct 29, 2026, 2:10 PM EDT1 sourcesAI-analyzed
Why it may matterVerify against the original reporting
Strong Q3 beat, raised 2026 guidance, and durable Keytruda/vaccine momentum support a near-term rally; offset by one-time acquisition charges, which are factored into the new guidance.
AI summary
What happened, with direct paths to the underlying reporting
Merck beat Q3 expectations on revenue and adjusted earnings and lifted 2026 guidance. Keytruda sales rose 6% to $8.6B, Gardasil vaccines up 14%, and Winrevair surged, collectively supporting a higher outlook and modest 2027 growth. The unwind of channel inventory is expected in Q4, potentially sustaining near-term upside.
Q3 adjusted EPS $2.49 vs $2.08 expected; revenue $18.085B, up 5%.
Keytruda sales $8.6B, up 6%; Gardasil vaccines up 14%.
Winrevair sales up 93% to $694M; stock up ~5% on the news.
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