Pfizer beats by $0.02, reports revs in-line; raises FY17 guidance slightly (35.15)
- Reports Q3 (Sep) earnings of $0.67 per share, excluding non-recurring items, $0.02 better than the Capital IQ Consensus of $0.65; revenues rose 0.9% year/year to $13.17 bln vs the $13.17 bln Capital IQ Consensus, reflecting operational growth of $178 million, or 1%, slightly offset by the unfavorable impact of foreign exchange of $54 million. Excluding the revenues for HIS in the prior-year quarter and the unfavorable impact of foreign exchange, third-quarter 2017 revenues increased by $458 million, or 4%.
- "Innovative Health revenues grew 11% operationally, primarily driven by the performance of our key growth drivers, notably Ibrance, Eliquis, Xtandi and Xeljanz, all of which are products that are early in their patent-protected lifecycle in attractive therapeutic areas. While Essential Health revenues remained challenged primarily due to continued headwinds from products that recently lost marketing exclusivity and product supply, we had solid operational growth in emerging markets and in biosimilars. "Looking ahead, we are encouraged by the convergence of two positive trends: an expected decline in the unfavorable revenue impact associated with product losses of exclusivity and the beginning of an expected multi-year wave of potential new product launches and product line extensions driven by our pipeline. We believe that the convergence of these trends, coupled with anticipated continued strong growth from the aforementioned innovative products, positions the Company for long-term success,"
- Co issues guidance for FY17, raises EPS to $2.58-2.62 from $2.54-2.60, excluding non-recurring items, vs. $2.56 Capital IQ Consensus Estimate; raises FY17 revs to $52.4-53.1 bln from $52.0-54.0 bln vs. $52.76 bln Capital IQ Consensus Estimate.