Merck (NYSE: MRK) Q2 2026 Earnings Preview for Tuesday August 4 Before Market Open With Zacks Analyst Consensus at $16.33 Billion Revenue and $1.36 Diluted EPS (-36.2% Year-Over-Year From $2.13 in Q2 2025); Analyst Focus Areas Include Keytruda (Pembrolizumab) Sales Trajectory (Zacks Estimate $8.06 Billion Q2, Driven by Earlier-Stage Indication Uptake and Continued Metastatic-Setting Momentum), the Initial Commercial Launch of LIPFENDRA (Enlicitide) Macrocyclic Peptide Oral PCSK9 Inhibitor Following the July 16 FDA Approval With Peak Sales Potential Estimated at $5 Billion by 2034, and the Emerging Contribution of Winrevair, Welireg, and Capvaxive Plus the Terns and Cidara Acquisitions
Merck (NYSE: MRK) reports Q2 2026 earnings Tuesday August 4, 2026 before market open with Zacks analyst consensus at $16.33 billion revenue and $1.36 diluted EPS (-36.2% year-over-year from $2.13 in Q2 2025). Analyst focus areas: Keytruda (pembrolizumab) sales trajectory with the Zacks estimate at $8.06 billion Q2, driven by earlier-stage indication uptake and continued metastatic-setting momentum ahead of the 2028 US patent cliff; the initial commercial launch of LIPFENDRA (enlicitide) macrocyclic peptide oral PCSK9 inhibitor following the July 16, 2026 FDA approval at $315/month list price ($10.50 per tablet), with peak sales potential estimated at $5 billion by 2034; the emerging contribution of Winrevair (sotatercept for pulmonary arterial hypertension), Welireg (belzutifan for renal cell carcinoma and VHL disease), and Capvaxive (pneumococcal vaccine); and pipeline signal from the Terns Pharmaceuticals and Cidara Therapeutics acquisitions completed in H1 2026. Merck has beaten earnings expectations in each of the trailing four quarters with a 7.75% average earnings surprise. Beyond Q2 specifically, analyst attention will focus on the FY 2026 revenue guidance ($65.8-67 billion range on the prior call) and non-GAAP EPS guidance ($5.04-5.16 range) for revisions.