Pfizer beats by $0.28, reports revs in-line; reiterates FY24 EPS below consensus, revs in-line (27.48)
- Reports Q4 (Dec) earnings of $0.10 per share, excluding non-recurring items, $0.28 better than the FactSet Consensus of ($0.18); revenues fell 41.3% year/year to $14.25 bln vs the $14.37 bln FactSet Consensus.
- Excluding Contributions from Comirnaty and Paxlovid, Revenues Grew 8% Operationally.
- Co issues guidance for FY24, sees EPS of $2.05-2.25, excluding non-recurring items, vs. $2.27 FactSet Consensus; sees FY24 revs of $58.5-61.5 bln vs. $60.46 bln FactSet Consensus.
- On Track to Deliver at Least $4 Billion in Annual Net Cost Savings by End of 2024 from Previously Announced Cost Realignment Program.
- No share repurchases were completed in 2023. As of January 30, 2024, Pfizer's remaining share repurchase authorization is $3.3 billion. Current financial guidance does not anticipate any share repurchases in 2024.