Pfizer Q2 2021 Earnings Report
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.
Pfizer
Pfizer
Pfizer Revenue by Geographic Location
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
Revenue & Expenses
Visualization of income flow from segment revenue to net income