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Dec 31, 2022
Pfizer Q4 2022 Earnings Report
Reported record full-year results and provided full-year financial guidance.
Key Takeaways
Pfizer reported strong Q4 2022 results with revenues of $24.3 billion, reflecting 13% operational growth. Full-year 2022 revenues reached $100.3 billion, an all-time high, with reported diluted EPS of $0.87 for the quarter and $5.47 for the year.
Full-Year 2022 Revenues of $100.3 Billion, An All-Time High for Pfizer, Reflecting 30% Operational Growth.
Strong Fourth-Quarter 2022 Revenues of $24.3 Billion, Reflecting 13% Operational Growth.
Fourth-Quarter 2022 Reported Diluted EPS of $0.87, Up 48% Year-Over-Year, and Adjusted Diluted EPS of $1.14, Up 45% Year-Over-Year.
Provides Full-Year 2023 Revenue Guidance of $67.0 to $71.0 Billion and Adjusted Diluted EPS Guidance of $3.25 to $3.45.
Pfizer
Pfizer
Pfizer Revenue by Segment
Revenue by Segment
Biopharma Revenue
CapyFin.comPfizer CentreOne Revenue
CapyFin.com Forward Guidance
Pfizer provides full-year 2023 revenue guidance of $67.0 to $71.0 billion and adjusted diluted EPS guidance of $3.25 to $3.45. Excluding COVID-19 products, revenues are expected to grow 7% to 9% operationally.
Positive Outlook
- Growth expected to be split among each of three categories: launch, acquired and in-line products
- Estimated proportion of U.S. population that receives a vaccine ~24%
- Estimated number of doses per vaccinated person per year, on average~1.3 doses
- Estimated Comirnaty market share - U.S.~64%
- Estimated total demand for Paxlovid - global*, excluding China (includes use of existing government supply)~17 million courses
Challenges Ahead
- Company revenues are anticipated to be lower in 2023 than in 2022 due entirely to expected revenue declines for Pfizer’s COVID-19 products.
- Comirnaty revenues of approximately $13.5 billion, down 64% from actual 2022 results.
- Paxlovid revenues of approximately $8 billion, down 58% from actual 2022 results.
- The midpoint of the guidance range for Adjusted diluted EPS reflects a 49% operational decrease compared to 2022, primarily driven by anticipated lower revenues from COVID-19 products,
- Financial guidance for Adjusted diluted EPS is calculated using approximately 5.75 billion weighted average shares outstanding, and assumes no share repurchases in 2023.
Revenue & Expenses
Visualization of income flow from segment revenue to net income