Riyadh Daily
By Kelly Cloonan Pfizer boosted its guidance for the year, citing momentum in newly-launched and acquired products that helped offset declining sales for its Covid-19 vaccine and treatments. The drug and vaccine maker said Tuesday it now projects sales of $62 billion to $64 billion this year, up from a prior outlook of $60.5 billion to $62.5 billion. It now expects adjusted earnings per share of $2.95 to $3.05, compared with a prior range of $2.80 to $3.
Analysts polled by FactSet expect full-year adjusted earnings of $2.96 a share on sales of $62.2 billion. In the third quarter, Pfizer's sales were roughly flat on a year-over-year basis at $16.58 billion, but topped Wall Street's estimate of $15.85 billion, according to FactSet. While revenue was weighed down by a decline in sales from Covid-19 products, the company said sales from its other products grew 7%, with particularly strong growth for its recently launched and acquired products.
Pfizer's third-quarter profit came in at $3.24 billion, or 56 cents a share, compared with $3.54 billion, or 62 cents a share, a year earlier. Adjusted earnings per share were 87 cents, compared with analyst estimates of 74 cents, according to FactSet. Separately on Tuesday the company named Cecile Guegan as chief financial officer, a role she's held on an interim basis since August.
Guegan's appointment is set to take effect Nov. 1, and comes after the company's former finance chief David Denton left the role to take on the same post at Nike. Write to Kelly Cloonan at kelly.cloonan@wsj.com (END) Dow Jones Newswires November 03, 2026 07:30 ET (12:30 GMT) Copyright (c) 2026 Dow Jones & Company, Inc. The articles, information, and content displayed on this webpage may include materials prepared and provided by third parties.
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