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Sep 29, 2024
Pfizer Q3 2024 Earnings Report
Pfizer reported strong third-quarter results, driven by focused commercial execution and robust double-digit revenue growth across the product portfolio. The company raised full-year 2024 revenue and adjusted diluted EPS guidance.
Key Takeaways
Pfizer reported a strong third quarter in 2024, marked by a 32% year-over-year operational revenue increase to $17.7 billion. Excluding Paxlovid and Comirnaty, revenues grew 14% operationally. The company raised its full-year revenue guidance to $61.0 to $64.0 billion and adjusted diluted EPS guidance to $2.75 to $2.95.
Third-quarter revenues reached $17.7 billion, a 32% operational increase year-over-year.
Excluding Paxlovid and Comirnaty, revenues grew 14% operationally.
Reported diluted EPS was $0.78, and adjusted diluted EPS was $1.06.
Full-year revenue guidance raised to $61.0 to $64.0 billion, and adjusted diluted EPS guidance raised to $2.75 to $2.95.
Pfizer
Pfizer
Pfizer Revenue by Segment
Revenue by Segment
Biopharma Revenue
CapyFin.comPfizer CentreOne Revenue
CapyFin.comPfizer Ignite Revenue
CapyFin.com Forward Guidance
Pfizer raised its full-year 2024 revenue guidance to a range of $61.0 to $64.0 billion and adjusted diluted EPS guidance to a range of $2.75 to $2.95.
Positive Outlook
- Revenue guidance increased by $1.5 billion at the midpoint.
- Adjusted diluted EPS guidance increased by $0.30 at the midpoint.
- Revenue guidance includes approximately $10.5 billion in anticipated revenues for Comirnaty.
- Revenue guidance includes approximately $5.5 billion for Paxlovid.
- Excluding Comirnaty and Paxlovid, Pfizer expects full-year 2024 operational revenue growth of 9% to 11%.
Challenges Ahead
- Guidance does not assume completion of any business development transactions not completed as of September 29, 2024.
- Guidance anticipates an immaterial impact from recent and expected generic and biosimilar competition.
- Guidance reflects anticipated unfavorable impact of approximately $0.3 billion on revenues due to changes in foreign exchange rates.
- Guidance assumes no share repurchases in 2024.
- Guidance assumes the seasonal cadence of certain products and that Paxlovid results trend with infection rates.
Revenue & Expenses
Visualization of income flow from segment revenue to net income