Pfizer Q1 2022 Earnings Report
Key Takeaways
Pfizer's Q1 2022 earnings showcase significant revenue growth, driven by strong performance of Comirnaty and Paxlovid. The company reaffirms its full-year financial outlook, demonstrating confidence in its portfolio and strategic direction.
Q1 2022 revenues reached $25.7 billion, reflecting an 82% operational growth.
Reported diluted EPS was $1.37, and adjusted diluted EPS was $1.62, including a $0.05 negative impact for acquired in-process R&D expenses.
Full-year 2022 financial guidance reaffirmed for revenues of $98.0 to $102.0 billion.
Full-year 2022 adjusted diluted EPS guidance revised to a range of $6.25 to $6.45, reflecting an accounting policy change.
Pfizer
Pfizer
Pfizer Revenue by Segment
Pfizer Revenue by Geographic Location
Forward Guidance
Pfizer reaffirms its full-year 2022 revenue guidance of $98.0 to $102.0 billion and revises adjusted diluted EPS guidance to $6.25 to $6.45, reflecting operational increases offset by foreign exchange impacts and accounting policy changes.
Positive Outlook
- Reaffirms revenue guidance for Comirnaty of approximately $32 billion.
- Reaffirms revenue guidance for Paxlovid of approximately $22 billion.
- Revenue guidance represents 27% operational growth from 2021 revenues at the midpoint.
- Guidance reflects anticipated operational increases in COVID-19-related products.
- Incremental investments planned in COVID-19-related vaccine and anti-viral life-cycle management programs.
Challenges Ahead
- Approximately $2 billion of negative foreign exchange impacts on revenues.
- ~$1 billion unfavorable impact from foreign exchange on Comirnaty revenue.
- ~$0.5 billion unfavorable impact from foreign exchange on Paxlovid revenue.
- Adjusted diluted EPS revised to reflect an $0.11 negative impact for an accounting policy change.
- Anticipated negative revenue impact of $0.7 billion due to recent and expected generic and biosimilar competition.