Pfizer raises 2026 revenue guidance to $60.5-$62.5 bln, up $500 mln at midpoint
Company reaffirms 2026 adjusted diluted EPS guidance of $2.80-$3.00
Pfizer expects 2026 COVID-19 product revenues of about $4 bln, down from $5 bln
Overview
US drugmaker's Q2 revenue rose 3% yr/yr, beating analyst expectations
Adjusted EPS for Q2 beat analyst expectations
Company raised full-year 2026 revenue guidance midpoint by $500 mln to $61.5 bln
Result drivers
Launched and acquired products - 18% operational revenue growth from recently launched and acquired products, including Eliquis, Padcev, Vyndaqel family, and Lorbrena, per interim CFO Cecile Guegan
COVID-19 product declines - Revenue growth was partially offset by sharp declines in Paxlovid (down 95%) and Comirnaty (down 34%) due to lower COVID-19 infections and reduced government purchases
Operational efficiency - Ongoing productivity initiatives and cost realignment programs supported results, according to management
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 11 "strong buy" or "buy", 19 "hold" and 2 "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 11.9% above its August 3 closing price of $25.03
The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 9 three months ago
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