Skip to content

Pfizer Beats Earnings, Revenue Forecasts

Analyst Team trader
Updated 3 May 2022

Trade Pfizer Stock Your Capital Is At Risk

Key points:

Pfizer (NYSE: PFE) reported earnings for its latest quarter before the bell Tuesday, beating analyst estimates.

The drugmaker announced adjusted earnings per share of $1.62 before the bell on Wednesday, with revenue coming in at $25.7 billion.

The numbers reported were against an anticipated EPS of $1.47 and revenue of $23.86 billion.

TOKYO – MAY 11: Pfizer building on May 11, 2012 in Tokyo. Pfizer is one of largest pharmaceutical companies worldwide with tremendous revenue $67.4 bn USD for 2011. It exists since 1849.

Also Read: What Do Quarterly Earnings Mean for Investors?

The company reaffirmed full-year 2022 guidance for revenues of $98 to $102 billion.

However, full-year guidance for adjusted EPS was revised to between $6.25 to $6.45 to reflect an $0.11 negative impact for an accounting policy change to include all acquired in-process R&D expenses in adjusted results. The previous outlook was $6.35 to $6.55 per share.

Pfizer's share price has moved 0.7% lower premarket in reaction to the report.

Frank D'Amelio, Chief Financial Officer and Executive Vice President of Pfizer, stated: “I am pleased to report another solid quarter for the company, highlighted by 82% operational revenue growth overall and 2% operational growth excluding Comirnaty and Paxlovid. Operational growth this quarter excluding these COVID-19 products would have been 5% if not for a 2% negative impact from losses of patent exclusivity for certain products and a 1% negative impact from fewer selling days this quarter compared to the prior-year quarter.

“We also entered the open market to repurchase shares of our stock for the first time since 2019. We will continue to thoughtfully deploy our capital in a variety of shareholder-friendly ways with the goal of maximizing the value we provide to all of our stakeholders, including patients and shareholders.”

The AskTraders Analyst Team features experts in technical and fundamental analysis, as well as traders specializing in stocks, forex, and cryptocurrency.