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Jul 04, 2021
Pfizer Q2 2021 Earnings Report
Pfizer's Q2 2021 financial results were reported, demonstrating substantial revenue growth and increased earnings per share.
Key Takeaways
Pfizer reported strong second-quarter 2021 results, with revenues of $19.0 billion, reflecting 86% operational growth. The company raised its full-year 2021 guidance for revenues to a range of $78.0 to $80.0 billion and adjusted diluted EPS to a range of $3.95 to $4.05.
Second-quarter revenues reached $19.0 billion, showcasing an 86% operational growth.
Excluding BNT162b2, revenues still grew by 10% operationally, amounting to $11.1 billion.
Reported diluted EPS was $0.98, while adjusted diluted EPS stood at $1.07.
Full-year revenue guidance was raised to $78.0 to $80.0 billion, with adjusted diluted EPS guidance set at $3.95 to $4.05.
Forward Guidance
Pfizer is raising its financial guidance ranges primarily to reflect higher expected revenues and related expenses for BNT162b2(1) and anticipated incremental spending on other COVID-19-related and mRNA-based programs, as well as increased expected contributions from its business excluding BNT162b2(1).
Positive Outlook
- Revenues: $78.0 to $80.0 billion (previously $70.5 to $72.5 billion)
- Adjusted Cost of Sales as a Percentage of Revenues: 39.0% to 40.0% (previously 38.0% to 39.0%)
- Adjusted SI&A Expenses: $11.5 to $12.5 billion (previously $11.0 to $12.0 billion)
- Adjusted R&D Expenses: $10.0 to $10.5 billion (previously $9.8 to $10.3 billion)
- Adjusted Diluted EPS: $3.95 to $4.05 (previously $3.55 to $3.65)
Challenges Ahead
- Approximately $2.2 billion of income for Adjusted Other (Income)/Deductions
- Approximately 16.0% for Effective Tax Rate on Adjusted Income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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