Pfizer announced its third-quarter results on Tuesday, which exceeded expectations, and raised its full-year performance forecast due to "strong performance since the beginning of the year" as well as ongoing cost-cutting efforts.
Pfizer also announced on Tuesday that Cecile Guegan, who has held various financial leadership positions within the company over the past 20 years, will assume the role of Chief Financial Officer (CFO) starting this month. She has been serving in the interim position of CFO since August, following the departure of Pfizer's previous CFO CFO Dave Denton, who then took on the same role at Nike.
The company currently expects its annual revenue to reach between $62 billion and $64 billion, which is higher than the previous estimate of $60.5 billion to $62.5 billion. The lower limit of this range is roughly the same as or slightly lower than the $62.6 billion in revenue expected for 2025.
This pharmaceutical giant currently expects an adjusted earnings per share for the full year of $2.95 to $3.05, which is an upward revision from the previous estimate of $2.80 to $3.00.
The following is a comparison of the company's third-quarter performance with Wall Street's expectations. The data is based on a survey of analysts conducted by LSEG.
- Earnings per share: 87 cents after adjustment, expected to be 73 cents.
- Revenue: $1.658 billion, expected to be $1.587 billion
Pfizer CEO Albert Bourla will be interviewed on television by CNBC at 1:30 p.m. Eastern Time to discuss the company's performance. The interview can be watched live in real-time through CNBC + or CNBC Pro.
