Merck Q1 Profit Falls 9.4% but Beats

Merck KGaA reported Q1 net profit of €669 million, down 9.4% YoY, but EPS €2.11 beat €1.99 estimate consensus.
Net sales slipped 2.8% to €5.13 billion, surpassing consensus of €5.09 billion, aided by strong semiconductor demand across global markets.
FY26 guidance nudged up: EBITDA forecast €5.7‑6.1 bn, net sales forecast €20.4‑21.4 bn, organic sales growth outlook 0‑3% and EPS range €7.50‑8.20.
Life Sciences division showed momentum, especially for Mavenclad, while FX headwinds weighed overall earnings in the quarter significantly.