Pfizer Q1 EPS Beats at $0.75, Revenue Climbs 2% to $14.5 Billion
Pfizer delivered Q1 adjusted EPS of $0.75 versus $0.72 consensus, with revenue of $14.5 billion, a 2% operational increase. Excluding COVID-19, revenue rose 7% operationally, driven by Padcev (+39%), Nurtec (+41%) and oncology biosimilars (+52%), and the company reaffirmed 2026 guidance of $59.5–$62.5 billion and $2.80–$3.00 EPS.
1. Q1 Financial Highlights
Pfizer reported adjusted earnings per share of $0.75, exceeding the $0.72 consensus, and generated $14.5 billion in revenue, marking a 2% operational increase from $13.7 billion a year earlier.
2. Performance of New and Recent Products
The company’s newer product portfolio surged 22% operationally, led by Padcev’s 39% gain, Nurtec’s 41% rise and a 52% increase in oncology biosimilars, reflecting strong uptake across multiple therapeutic areas.
3. Decline in COVID-19 Product Sales
Sales of Comirnaty fell 59% operationally and Paxlovid dropped 63%, underscoring ongoing tapering of pandemic-driven demand despite growth in the broader portfolio.
4. Full-Year 2026 Guidance
Pfizer reaffirmed its full-year revenue outlook of $59.5 billion to $62.5 billion and adjusted EPS range of $2.80 to $3.00, with the midpoint slightly below the prevailing analyst consensus of $2.96.