Merck (MRK) Q2 2026 (Media) earnings summary

Executive summary

• Q2 2026 net sales rose 4.1% organically to €5.4 billion, with EBITDA pre up 9.3% organically to €1.6 billion, driven by Process Solutions, Rare Diseases, and Semiconductor Solutions.

• Delivered robust results across all business sectors and upgraded full-year guidance, supported by strong contributions from Life Science, Healthcare, and Electronics.

• Strategic acquisition of Bio-Techne announced to strengthen Life Science leadership and integrated workflow solutions.

Financial highlights

• Q2 2026 reported net sales: €5.4 billion (+3.4% year-over-year); EBITDA pre: €1.6 billion (+9.4% year-over-year); EBITDA pre margin: 29.4% (+1.6pp year-over-year).

• Life Science net sales rose 8% year-over-year to €2,412m, with EBITDA pre margin improving to 29.0%.

• Healthcare net sales increased 2.3% year-over-year to €2,151m, with EBITDA pre margin at 34.7%.

• Electronics net sales declined 1.7% year-over-year to €871m, but EBITDA pre margin expanded to 28.0%.

• Earnings per share pre: €2.16 (+6.9% year-over-year); profit after tax: €494 million (-24.7% year-over-year).

Outlook and guidance

• Upgraded 2026 group guidance: net sales €21.0–21.8bn, EBITDA pre €5.9–6.3bn, EPS pre €7.90–8.60.

• Organic net sales growth expected at +1% to +3%; organic EBITDA pre growth at 0% to +3%.

• Life Science expected to grow 5–7% organically; Healthcare to decline 2–4% organically; Electronics to grow 6–9% organically.

• Guidance assumes full generic erosion of Mavenclad in the US and excludes potential Pergoveris launch.