Pfizer Beats Q2 Estimates but Guidance Midpoint Disappoints, Stock Falls
PFE is trading near its 52-week low of $23.11 (8.5% above the low).
Summary
Pfizer reported Q2 adjusted EPS of $0.77 on $15B revenue, beating consensus of $0.68 and $14.3B. The stock fell premarket after the company raised the low end of its full-year revenue guidance to $60.5B-$62.5B, with the midpoint still below the $61.8B Street forecast. Full-year EPS guidance was reaffirmed at $2.80-$3.00, also below the $2.94 consensus. The results highlight strong non-Covid product sales, including oncology growth, but ongoing headwinds from declining Covid vaccine demand, echoed by partner BioNTech's own revenue miss and lower outlook. This follows a series of positive pipeline updates in recent months, but the guidance shortfall against elevated expectations is driving the negative reaction.
At the time of this announcement, PFE was trading at $25.07 on NYSE in the Life Sciences sector, with a market capitalization of approximately $142.7B. The 52-week trading range was $23.11 to $28.75. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.