Pfizer Beats Earnings, Revenue Forecasts

Trade Pfizer Stock Your Capital Is At Risk
Analyst Team
Updated: 3 May 2022

Key points:

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

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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.”

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