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Apr 04, 2021
Pfizer Q1 2021 Earnings Report
Pfizer reported strong financial results for Q1 2021, driven by BNT162b2 vaccine and overall business performance, and raised its full-year 2021 guidance.
Key Takeaways
Pfizer's Q1 2021 revenues reached $14.6 billion, reflecting a 42% operational growth. Excluding BNT162b2 vaccine revenues, the company still achieved an 8% operational growth. The company raised its full-year 2021 revenue guidance to $70.5 to $72.5 billion and adjusted diluted EPS to $3.55 to $3.65.
Q1 2021 revenues totaled $14.6 billion, a 45% increase compared to the prior-year quarter, with operational growth of 42%.
Reported diluted EPS was $0.86, and adjusted diluted EPS was $0.93.
The company raised its full-year 2021 revenue guidance to a range of $70.5 to $72.5 billion and adjusted diluted EPS to a range of $3.55 to $3.65.
BNT162b2 contributed $3.5 billion in global revenues.
Pfizer
Pfizer
Forward Guidance
Pfizer raises its guidance ranges for revenues, Adjusted cost of sales as a percentage of revenues, Adjusted R&D expenses and Adjusted diluted EPS to reflect the updated expectations for contributions to 2021 performance from BNT162b2 and the continued strong performance of the business excluding BNT162b2, partially offset by anticipated additional R&D investments into vaccines to protect against COVID-19, as well as early research investments into other mRNA-based development programs and COVID-19 antivirals.
Positive Outlook
- Revenues: $70.5 to $72.5 billion (previously $59.4 to $61.4 billion)
- Adjusted Cost of Sales as a Percentage of Revenues: 38.0% to 39.0% (previously 32.0% to 33.0%)
- Adjusted SI&A Expenses: $11.0 to $12.0 billion
- Adjusted R&D Expenses: $9.8 to $10.3 billion (previously $9.2 to $9.7 billion)
- Adjusted Diluted EPS: $3.55 to $3.65 (previously $3.10 to $3.20)