Pfizer Inc. (NYSE:PFE) is one of the most well-known names in the pharmaceutical sector not just for its medicines and vaccines but also for its consumer healthcare products. This New York-based company is well known for products like Prevnar, Lyrica, Lipitor and Celebrex among others.
However, like many of its peers, PFE is facing generic competition and pricing pressure for several products. Other than that, supply shortages in legacy Hospira products and lower sales of legacy Established Products in developed markets are hurting the top-line.
In this scenario, investor focus remains on late-stage pipeline candidates and their commercial potential and performance of new products apart from the usual top-and bottom-line numbers.
The pharma giant has a strong record of earnings surprises. The company’s earnings surpassed expectations in each of the last four quarters, leading to an average positive surprise of 6.35%.
Currently, PFE has a Zacks Rank #3 (Hold), but that could definitely change following the company’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earning Beat: PFE beat fourth quarter earnings which came in at 64 cents while our consensus called for EPS of 63 cents. Earnings rose 3% year over year.
Revenues Beat: Revenues also beat expectations. Pfizer recorded revenues of $14.0 billion, which beat the Zacks Consensus Estimate of $13.77. Revenues rose 2% from the year-ago quarter on a reported basis. On an operational basis, excluding the impact of currency, revenues rose 5% year over year.
2019 Guidance: Pfizer issued sales and earnings guidance for 2019
Revenues are expected in the range of $52.0 billion to $54.0 billion. The Zacks Consensus Estimate was pegged at $53.8 billion.
Adjusted earnings per share are expected in the range of $2.82-$2.92 which fell short of the Zacks Consensus Estimate of $2.99 per share.
Pre-Market Trading: Shares were down around 2% in pre-market trading as the 2019 forecast disappointed investors.
Check back later for our full write up on this PFE earnings report later!
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Pfizer Inc. (PFE): Free Stock Analysis Report
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