Merck KGaA raises forecasts on solid third-quarter 2014
German pharma and chemicals firm Merck KGaA (MRK: DE) this morning reported that revenue for the third quarter of 2014 rose 6.7%t to 2.94 billion euros ($3.65 billion), thanks to solid organic growth and sales contribution from the acquisition of AZ Electronic Materials.
Third quarter earnings before interest, taxes, depreciation and amortization (EBITDA) increased 3.1% to 856.6 million euros from 830.7 million euros in the like year-earlier period, beating the 850 million-euro average estimate of eight analysts surveyed by Bloomberg. Earnings per share, excluding certain items, were 1.15 euros, in line with last year and missing the 1.17-euro average estimate of 10 analysts surveyed by Bloomberg.
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