Key TakeawaysPfizer beat third-quarter profit and sales forecasts and raised its guidance on strong sales of its COVID-19 treatment.However, shares declined as the results may have put a damper on possible changes to the company demanded by activist investor Starboard Value.CEO Albert Bourla expressed confidence in the way Pfizer is executing its strategy. Shares of Pfizer (PFE) fell Tuesday as a strong earnings report is seen as likely to limit activist investor Starboard Value from driving major changes a ...

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Pfizer (PFE) reported third-quarter 2024 adjusted earnings per share of $1.06, which crushed the Zacks Consensus Estimate of 64 cents per share. The company had recorded an adjusted loss of 17 cents per share in the year-ago quarter. Revenues came in at $17.7 billion, up 31% from the year-ago quarter on a reported basis, reflecting an operational increase of 32% and a negative currency impact of 1%. Total revenues significantly beat the Zacks Consensus Estimate of $15.19 billion. Higher sales of Pfizer's ke ...

Pfizer (PFE) reported $17.7 billion in revenue for the quarter ended September 2024, representing a year-over-year increase of 33.8%. EPS of $1.06 for the same period compares to -$0.17 a year ago.The reported revenue represents a surprise of +16.53% over the Zacks Consensus Estimate of $15.19 billion. With the consensus EPS estimate being $0.64, the EPS surprise was +65.62%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Stree ...

Pfizer (PFE) came out with quarterly earnings of $1.06 per share, beating the Zacks Consensus Estimate of $0.64 per share. This compares to loss of $0.17 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 65.62%. A quarter ago, it was expected that this drugmaker would post earnings of $0.45 per share when it actually produced earnings of $0.60, delivering a surprise of 33.33%.Over the last four quarters, the company has surpasse ...

About this content About Josh Lamb After graduating from the University of Kent in the summer of 2022 with a degree in History, Josh joined Proactive later that year as a journalist in the UK editorial team. Josh has reported on a range of areas whilst at Proactive, including energy companies during a time of global crisis, aviation and airlines as the sector recovers from the pandemic, as well as covering economic, social and governance issues. Read more About the publisher Proactive financial news and ...

Financial Performance - Third-quarter 2024 revenues reached $17.7 billion, representing a 32% year-over-year operational growth, with a 14% operational growth excluding Paxlovid and Comirnaty contributions[1] - Pfizer raised its full-year 2024 revenue guidance to a range of $61.0 to $64.0 billion, up from the previous range of $59.5 to $62.5 billion[9] - Total revenues for Q3 2024 reached $17,702 million, a 31% increase from $13,491 million in Q3 2023[70] - Product revenues for Q3 2024 were $15,417 billion, up 33% from $11,587 billion in Q3 2023[50] - Alliance revenues increased by 16% to $1.900 billion in Q3 2024, compared to $1.645 billion in Q3 2023[50] - Royalty revenues surged 48% to $384 million in Q3 2024, compared to $260 million in Q3 2023[50] - Net income attributable to Pfizer Inc. common shareholders was $4.465 billion in Q3 2024, compared to a loss of $2.382 billion in Q3 2023[50] - Earnings per share (EPS) from continuing operations for Q3 2024 was $0.79, a significant recovery from a loss of $0.42 in Q3 2023[50] - Adjusted income for Q3 2024 was $4.874 billion, compared to $3.219 billion in Q3 2023, indicating improved operational performance[60] - Pfizer's GAAP net income was $7.621 billion for the nine months ended September 29, 2024, with earnings per share (EPS) of $1.34[61] Revenue Breakdown - Third-quarter 2024 Paxlovid revenues were $2.7 billion, a significant increase of $2.5 billion operationally compared to the prior-year quarter[16] - Comirnaty revenues for the third quarter of 2024 were $1.4 billion, reflecting a 9% operational increase year-over-year[18] - U.S. revenues increased by 50% to $12,064 million, up from $8,064 million in the previous year[70] - International revenues grew by 4% to $5,638 million, compared to $5,427 million in Q3 2023[70] - Paxlovid sales surged to $2,703 million, a significant increase from $202 million in Q3 2023[70] - Comirnaty revenues grew by 9% to $1,422 million, compared to $1,306 million in the same quarter last year[70] - Eliquis sales increased by 8% to $5,534 million, while Paxlovid sales rose by 13% to $4,989 million[71] - Comirnaty sales saw a significant decline of 66%, dropping to $1,970 million from $5,858 million in the previous year[71] Cost Management - The company is on track to achieve net cost savings of at least $5.5 billion from cost reduction initiatives, with at least $4 billion anticipated by the end of 2024[1] - Adjusted Cost of Sales decreased to $4,874 million in Q3 2024 from $8,906 million in Q3 2023, representing a 45% decline[28] - Adjusted R&D Expenses decreased by 4% to $2,561 million in Q3 2024 compared to $2,679 million in Q3 2023[28] - Restructuring charges and certain acquisition-related costs totaled $313 million in Q3 2024, compared to $155 million in Q3 2023[52] - The company launched a Manufacturing Optimization Program in May 2024 aimed at reducing the cost of goods sold[74] Research and Development - Pfizer invested $7.8 billion in internal R&D projects during the first nine months of 2024[13] - The FDA approved Abrysvo for the prevention of lower respiratory tract disease caused by RSV in individuals aged 18 to 59 years at increased risk, marking a significant expansion of its indication[30] - Pfizer and BioNTech's combination mRNA vaccine candidate for COVID-19 and influenza did not meet one primary immunogenicity objective, achieving higher influenza A responses but failing against the influenza B strain[33] - Ponsegromab showed a 5.6% mean increase in body weight at the highest dose in a Phase 2 study for cancer cachexia, with improvements in appetite and muscle mass[33] - The company is discussing late-stage development plans for ponsegromab with regulators, aiming to start registration-enabling studies in 2025[33] Tax and Financial Guidance - The effective tax rate on reported income for the third quarter of 2024 was 5.0%, a decrease from 28.8% in the prior-year quarter[20] - The effective tax rate on Adjusted Income was 10.8% in Q3 2024, down from 22.3% in Q3 2023[28] - Financial guidance for full-year 2024 anticipates an unfavorable impact of approximately $0.3 billion on revenues due to foreign exchange rate changes[40] - Adjusted diluted EPS guidance for 2024 was increased to a range of $2.75 to $2.95, reflecting a $0.30 increase at the midpoint[11] Strategic Initiatives - Pfizer introduced PfizerForAll™, a digital platform aimed at improving healthcare access for common illnesses, streamlining care and prescription processes[35] - The company is focusing on improving its commercial organization to enhance execution speed and market responsiveness[72] - Pfizer's acquisition of Seagen in December 2023 is expected to enhance its oncology portfolio and improve market focus[74] - Pfizer is committed to achieving its environmental sustainability and ESG goals amidst ongoing operational challenges[76] - The company is collaborating with other firms for co-research and co-development of certain products, with varying commercialization rights by market[78] Market Challenges - The company anticipates ongoing challenges in the COVID-19 product market, with potential reduced demand for Comirnaty and Paxlovid leading to inventory write-offs[75] - Pfizer's financial guidance is subject to significant uncertainties, including regulatory approvals and market dynamics affecting product launches[74] - Regulatory authorities may require additional data for product candidates or deny approval altogether, impacting future product launches[78]

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EnglishItalianoEspañolPortuguêsDeutschالعربيةFrançaisImportant DisclaimersThe content provided on the website includes general news and publications, our personal analysis and opinions, and contents provided by third parties, which are intended for educational and research purposes only. It does not constitute, and should not be read as, any recommendation or advice to take any action whatsoever, including to make any investment or buy any product. When making any financial decision, you should perform your ...

Pfizer (PFE) COVID revenues have been declining due to lower demand. The company records direct sales and alliance revenues from its partner, BioNTech (BNTX) , for the COVID-19 vaccine, Comirnaty, and product revenues from its oral antiviral pill for COVID, Paxlovid.The Zacks Consensus Estimate for third-quarter 2024 direct sales and alliance revenues from Comirnaty is $1.03 billion, while that for Paxlovid is $1.3 billion.Our estimate for direct sales and alliance revenues from Comirnaty is $1.13 billion, ...