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. Pfizer later raised its full-year revenue guidance midpoint to $61.5B and announced an additional $2.5B in productivity savings for 2027–2029. 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. New Phase 2b data for monthly GLP-1 candidate berobenatide showed weight loss comparable to tirzepatide, with first regulatory approval targeted for 2028. This follows a series of positive pipeline updates in recent months, but the guidance shortfall against elevated expectations is driving the negative reaction.
Updated with a Benzinga report · What changed
Updates
· Benzinga — Pfizer raised its full-year revenue guidance midpoint to $61.5B and announced an additional $2.5B in productivity savings for 2027–2029. New Phase 2b data for monthly GLP-1 candidate berobenatide showed weight loss comparable to tirzepatide, with first regulatory approval targeted for 2028.
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 9 out of 10. Source: Dow Jones Newswires.