In an April 28th release, Merck Inc. (MRK) posted financial results for the 1st quarter of FY 2022. The Animal Health segment of this Company can be regarded as an indicator of the status of enterprises involved in pharmaceuticals, biologics and nutritional additives for the companion animal and livestock industry in the Americas, Asia and Europe. Along with competitors Zooetis, Phibro, Elanco, Pfizer and Boehringer-Ingelheim, all are subject to the risks of currency fluctuation, disruption of supply-chains and increased costs for products, labor and transport in a competitive environment still impacted by COVID.
For the 1st Quarter of FY 2022 ending March 31st 2021, Company net income attained $4,310 million on total revenue of $15,901 million. Comparable figures for the 1st quarter of fiscal 2022 ending March 31st 2021 were net earnings of $3,179 million on total revenue of $19,627 million. Diluted EPS attained $1.70 for the most recent quarter of fiscal 2022 up 34.5 percent compared to $1.26 for the 1st Quarter of 2021.
Animal Health represented 9.3 percent of Company revenue for the 1st quarter of FY 2022 with food animals accounting for 56 percent of this segment, up by 4.5 percent from Q1 of 2021.
In commenting on results Robert M. Davis CEO stated, “We successfully delivered across our key strategic priorities and achieved strong top- and bottom-line growth” He added “Robust first quarter performance was driven by significant clinical advancements in our research pipeline and effective commercial execution across a broad set of key growth drivers. We remain focused on driving our strategy, which is led by science, and are confident in the durability of our growth prospects, as we continue to provide value for patients, shareholders and all stakeholders today and well into the future.”
Guidance for FY 2022 comprised revenue in a range of $56.9 billion to $58.1 billion.
On December 31st 2021 Merck posted assets of $105,694 million against long-term debt of $40,124 million. The Company had an intraday market capitalization of $213,900 million on March 28th 2022. MRK traded with a forward P/E of 11.7 and has ranged over the past 52-weeks from $70.11 to $91.40 with a 50-day moving average of $81.04. Twelve-month trailing operating margin was 32.5 percent and profit margin 26.8 percent. Return on assets was 10.1 percent with 38.8 percent on equity over the trailing twelve months. At close of trading on April 27th pre-release, MRK was priced at $84.68 closing on February 28th at $88.58.