Pfizer More Than Doubles Earnings, Sales In Q3; Forecasts $36B From COVID-19 Vax Sales In FY21

Pfizer Inc PFE reported Q3 adjusted EPS of $1.34, well ahead of the consensus of $1.09, and more than doubled from $0.59 posted a year ago.
The Company achieved Q3 revenues of $24.09 billion, more than doubled, reflecting operational growth of $13.4 billion and the favorable impact of foreign exchange of $421 million, surpassing the Wall Street estimate of $22.71 billion.
Its COVID-19 vaccine, Comirnaty, contributed $13.0 billion in direct sales and alliance revenues.
Other products, including Eliquis, Vyndaqel/Vyndamax, Inlyta, Xtandi, and Ibrance, contributed to the strength.
Chantix sales declined 97%, driven by the voluntary recall, and Prevnar sales dipped 7% due to the ongoing prioritization of primary and booster vaccination campaigns for COVID-19.
FY21 Outlook: Pfizer raised FY21 revenue outlook 81 billion - $82.0 billion, up from prior guidance of $78 billion - $80 billion. It expects EPS of $4.13 - $4.18, higher than the previous outlook of $3.95-$4.05.
Pfizer has raised its revenue expectation from the COVID-19 vaccine by $2.5 billion to approximately $36 billion.
Price Action: PFE shares are up 3.12% at $45 during the premarket session on the last check Tuesday.
Photo by x3 from Pixabay

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