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Dec 31, 2021
Pfizer Q4 2021 Earnings Report
Reported strong Q4 and full-year 2021 financial results, provided 2022 financial guidance, and raised Comirnaty revenue guidance while issuing Paxlovid revenue guidance.
Key Takeaways
Pfizer reported a strong fourth quarter with revenues of $23.8 billion, a 105% increase compared to the prior-year quarter. The company provided full-year 2022 revenue guidance of $98.0 to $102.0 billion and adjusted diluted EPS of $6.35 to $6.55. Pfizer also raised its Comirnaty revenue guidance to approximately $32 billion and issued initial Paxlovid revenue guidance of approximately $22 billion for 2022.
Q4 2021 revenues reached $23.8 billion, reflecting a 106% operational growth.
Reported diluted EPS for Q4 2021 was $0.59, while adjusted diluted EPS was $1.08.
Full-year 2021 revenues amounted to $81.3 billion, demonstrating a 92% operational growth.
Pfizer issued full-year 2022 revenue guidance of $98.0 to $102.0 billion and adjusted diluted EPS guidance of $6.35 to $6.55.
Pfizer
Pfizer
Pfizer Revenue by Segment
Revenue by Segment
Biopharma Revenue
CapyFin.comPfizer CentreOne Revenue
CapyFin.com Forward Guidance
Pfizer provided its 2022 financial guidance, including revenue expectations between $98.0 to $102.0 billion and adjusted diluted EPS of $6.35 to $6.55.
Positive Outlook
- Midpoint of revenue guidance represents 23% growth from 2021 revenues.
- Includes anticipated $32 billion of revenue for Comirnaty.
- Includes anticipated $22 billion of revenue for Paxlovid.
- Midpoint of adjusted diluted EPS guidance reflects a 46% increase over 2021 actual results.
- Change in policy for intangible amortization expense is estimated to benefit adjusted diluted EPS by approximately $0.06.
Challenges Ahead
- Assumes no completion of any business development transactions not completed as of December 31, 2021.
- Reflects an anticipated negative revenue impact of $0.7 billion due to recent and expected generic and biosimilar competition.
- Financial guidance reflects the anticipated unfavorable impact of approximately $1.1 billion on revenues and approximately $0.06 on Adjusted diluted EPS as a result of changes in foreign exchange rates.
- Guidance for Adjusted diluted EPS assumes diluted weighted-average shares outstanding of approximately 5.8 billion shares, which assumes no share repurchases in 2022.
- Expected increase in weighted average shares outstanding compared to 2021 of approximately 100 million shares has an unfavorable impact on 2022 Adjusted diluted EPS of $0.10.
Revenue & Expenses
Visualization of income flow from segment revenue to net income