By Adria Calatayud


Germany's Merck KGaA confirmed and detailed its guidance for 2024 after it reported lower sales and earnings for the first quarter, hit by inventory reductions at its life-science segment.

The life-sciences and electronics company said Wednesday that it expects full-year organic sales growth to range from 1% to 5% at the net sales level and to range from 1% to 7% in earnings before interest, taxes, depreciation, amortization and one-time items, the company's preferred profitability metric.

It had previously guided for a gradual return to organic growth in both metrics this year.

Full-year net sales are expected to come in at 20.6 billion to 22.1 billion euros ($22.29 billion-$23.91 billion), while Ebitda before one-time items is forecast at EUR5.7 billion to EUR6.3 billion, Merck said.

For the first quarter, Merck reported an after-tax profit of EUR699 million compared with EUR800 million in the year-earlier period. Net sales dropped 3.3% to EUR5.12 billion, with a 1.2% decline organically.

Ebitda before one-time items for the quarter fell 8.4% to EUR1.45 billion.

Analysts expected Merck to report first-quarter Ebitda before exceptional items of EUR1.36 billion on net sales of EUR5.10 billion, according to consensus estimates compiled by Vara Research.


Write to Adria Calatayud at adria.calatayud@wsj.com


(END) Dow Jones Newswires

05-15-24 0129ET