Pfizer Posts Street Beating Q1 Earnings, Revises FY22 Profit Outlook

Pfizer Inc PFE has reported a Q1 adjusted EPS of $1.62, up 72% Y/Y, well ahead of the consensus of $1.50.
The company achieved revenues of $25.66 billion, up 77%, beating the Wall Street estimate of $23.95 billion.
Its COVID-19 vaccine, Comirnaty, contributed $13.2 billion in direct sales and alliance revenues.
Eliquis globally, up 12% operationally, driven primarily by continued increased adoption in non-valvular atrial fibrillation and oral anti-coagulant market share gains.
Paxlovid, COVID-19 treatment contributed $1.5 billion in global sales.
Prevnar sales increased 59%, driven by solid retail and wholesaler stocking of Prevnar 20 for the adult indication and favorable timing of government purchases of Prevnar 13 for the pediatric indication.
Chantix continues to be negatively impacted by the ongoing global pause in shipments.
FY22 Outlook: Pfizer reaffirms FY22 sales of $98 billion - $102 billion, below the consensus of $107.94 billion.
The company has revised adjusted EPS guidance to $6.25 - $6.45 from the previous guidance of $6.35 - $6.55 to include the impact of incremental acquired IPR&D.
Pfizer anticipates COVID-19 vaccine sales of $32 billion and around $22 billion in revenue for Paxlovid.
Price Action: PFE shares are down 0.64% at $48.03 during the premarket session on the last check Tuesday.
Image by x3 from Pixabay

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