Pfizer beats by $0.38, beats on revs; raises FY22 guidance
- Reports Q3 (Sep) earnings of $1.78 per share, excluding non-recurring items, $0.38 better than the S&P Capital IQ Consensus of $1.40; revenues fell 6.0% year/year to $22.64 bln vs the $21.1 bln S&P Capital IQ Consensus.
- Co issues raised guidance for FY22, sees EPS of $6.40-6.50 from $6.30-6.45 vs. $6.39 S&P Capital IQ Consensus; sees FY22 revs of $99.5-102.0 bln from $98-102 bln vs. $99.64 bln S&P Capital IQ Consensus. Guidance Details: Comirnaty revenues of approximately $34 billion, which reflects favorable operational updates compared to prior guidance, partially offset by unfavorable incremental impacts from foreign exchange. This guidance includes doses expected to be delivered in fiscal 2022(5), primarily under contracts signed as of mid-October 2022.
- Dr. Albert Bourla, Chairman and Chief Executive Officer, stated: "I continue to be proud of our colleagues' excellence, ingenuity and unwavering commitment to bringing breakthroughs to patients. Over the next 18 months, we expect to have up to 19 new products or indications in the market -- including the five for which we have already begun co-promotion or commercialization earlier this year. Many of these 19 programs are already largely de-risked from a clinical perspective, the majority were discovered in-house, and nearly all would be for indications outside of COVID-19. This quarter, we set the stage for these potential launches by reorganizing our commercial operations to better capitalize on these opportunities. We also reported positive pivotal data for several of these exciting pipeline programs, including our RSV vaccine candidate for older adults and for infants through maternal vaccination, Prevnar 20 for children, the potential combination treatment of Talzenna and Xtandi in men with metastatic castration-resistant prostate cancer, and our pentavalent meningococcal vaccine candidate for adolescents and young adults. If approved, we expect each of these to be key contributors to our growth aspirations through 2025 and beyond."