Pfizer Beats Q2 Estimates, Raises Revenue Outlook, and Touts Obesity Drug Data
PFE is trading near its 52-week low of $23.4 (8.7% above the low).
Summary
Pfizer delivered a strong Q2, beating on both top and bottom lines — adjusted EPS of $0.77 vs. $0.69 consensus on revenue of $15.03B, up 1% operationally. The company raised its full-year revenue guidance midpoint to $61.5B, reflecting confidence in its non-COVID portfolio, which grew 5% operationally excluding Comirnaty and Paxlovid. Launched and acquired products surged 18%, driven by Eliquis, Padcev, Vyndaqel, and Lorbrena. The obesity pipeline is gaining momentum: new Phase 2b data for monthly GLP-1 candidate berobenatide suggests weight loss comparable to tirzepatide and potentially better than semaglutide, with a first regulatory approval targeted for 2028. An additional $2.5B in productivity savings is planned for 2027–2029, adding to the $6.7B cost-savings target announced earlier. Shares rose 2.14% on the day. The raised guidance and obesity data directly address recent pipeline and leadership doubts, though incoming interim CFO Cecile Guegan flagged continued COVID product headwinds.
At the time of this announcement, PFE was trading at $25.45 on NYSE in the Life Sciences sector, with a market capitalization of approximately $145B. The 52-week trading range was $23.40 to $28.75. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: Benzinga.