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Pfizer Q3 revenue beats estimates on new launches; raises guidance

By Reuters News


Overview

  • U.S. pharmaceutical firm's Q3 revenue was flat yr/yr but beat analyst expectations

  • Adjusted EPS for Q3 beat analyst expectations

  • Company raised 2026 revenue and adjusted EPS guidance on strong performance of new products


Outlook

  • Pfizer raises 2026 revenue guidance to $62.0-$64.0 bln from $60.5-$62.5 bln

  • Pfizer lifts 2026 adj diluted EPS guidance to $2.95-$3.05 from $2.80-$3.00

  • Guidance factors in $1.1 bln revenue hit from generic and biosimilar competition in 2026


Result Drivers

  • NEW AND ACQUIRED PRODUCTS - Co said launched and acquired products drove 32% operational revenue growth yr/yr, per CFO Cecile Guegan

  • NON-COVID PRODUCTS - Co said non-COVID products delivered 7% operational revenue growth in Q3

  • PRODUCT MIX SHIFT - Higher sales of Eliquis, Padcev, Vyndaqel, Nurtec and Lorbrena offset declines in COVID-19 and Prevnar products


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

Beat

$16.58 bln

$15.87 bln (16 Analysts)

Q3 Adjusted EPS

Beat

$0.87

$0.73 (18 Analysts)

Q3 EPS

$0.56

Q3 Net Income

$3.24 bln


Analyst Coverage

  • The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 10 "strong buy" or "buy", 17 "hold" and 3 "sell" or "strong sell"

  • The average consensus recommendation for the pharmaceuticals peer group is "buy."

  • Wall Street's median 12-month price target for Pfizer Inc. is $28.00, about 8.7% below its November 2 closing price of $30.67

  • The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 9 three months ago


Reuters Recommended Reads

  • Nov 3 - Pfizer names Cecile Guegan as finance chief

  • Nov 3 - Bayer hikes 2026 profit outlook as pharma unit beats expectations

  • Nov 2 - Vertex Pharmaceuticals' Q3 revenue slightly beats estimates, outlook raised


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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