Pfizer Raises Full-Year Earnings Guidance, Q3 Numbers Beat Street Estimates

• The pharma major now expects adjusted earnings in the range of $3.00 to $3.15 for the full year. 
• Q3 revenue totaled $16.7 billion, down 6% year-over-year due to a decline in COVID-19 product revenues.
• Revenues from the company’s anticoagulant Eliquis, however, rose 25% to $2.02 billion, driven by higher demand. 
   

Pfizer Inc. (PFE) on Tuesday raised its full-year adjusted earnings guidance to a range of $3.00 to $3.15, citing continued confidence in the business and progress with ongoing cost improvement initiatives.

The company was previously expecting adjusted earnings in the range of $2.90 to $3.10 per share. Pfizer is now on track to deliver approximately $7.2 billion in overall anticipated net cost savings by the end of 2027, driven by cost improvement initiatives announced previously.

The pharma major also reaffirmed its full-year revenue guidance of $61.0 billion to $64.0 billion.

Q3 Earnings  

For the third quarter, the company reported adjusted earnings per share of $0.87, down from the $1.06 reported in the corresponding period of 2024, but above an analyst estimate of $0.64, according to data from Fiscal AI.

Revenue for the three months through the end of September totaled $16.7 billion, down 6% year-over-year due to a decline in COVID-19 product revenues, but above the estimated $16.5 billion.

The company’s Paxlovid, an antiviral medication used to treat COVID-19, and its anti-COVID-19 vaccine Comirnaty, saw revenues in the quarter down by 55% and 19%, respectively, on a total basis.

Revenues from the company’s anticoagulant Eliquis, however, rose 25% to $2.02 billion, driven by higher demand. Other drugs to see revenue growth in the quarter include the heart disease drug Vyndaqel, which experienced a 10% increase to $ 1.59 billion.

How Did Stocktwits Users React?

Shares of the company traded 1% lower in the pre-market session at the time of writing. On Stocktwits, retail sentiment around PFE stock jumped from ‘neutral’ to ‘bullish’ territory over the past 24 hours, while message volume rose from ‘normal’ to ‘high’ levels.

PFE stock is down 7% this year and approximately 11% over the past 12 months.

Read also: Tesla’s China-Made EV Sales Reportedly Drop 10% In October, Lowest Since May

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