Pfizer hikes full-year outlook on new product growth, taps company veteran as new CFO

Summary

• Pfizer reported fiscal third-quarter results that exceeded Wall Street estimates and raised its full-year outlook due to growing demand for newly launched and acquired products.
• Cecile Guegan assumed the role of chief financial officer this month after serving as interim CFO since August, following the departure of former CFO Dave Denton to Nike.
• The company raised its full-year revenue guidance to $62 billion to $64 billion from a previous range of $60.5 billion to $62.5 billion.
• Pfizer increased its full-year adjusted profit guidance to between $2.95 and $3.05 per share from a previous range of $2.80 to $3.00 per share.
• CEO Albert Bourla stated that low Covid product revenue is positive news because it removes volatility from stock performance.
• The company reaffirmed its full-year Covid product outlook of roughly $4 billion, expecting most sales to occur in the fourth quarter.
• A one-time charge of $650 million, impacting earnings by 10 cents per share, was recorded in the third quarter related to a licensing agreement with Innovent Biologics.
• Pfizer is targeting roughly $9.7 billion in net savings through 2029 to offset declines in Covid product sales.
• Third-quarter earnings per share were 87 cents adjusted, beating the 73 cents expected by analysts.
• Third-quarter revenue totaled $16.58 billion, surpassing the $15.87 billion expected by analysts.
• Eliquis sales reached $2.52 billion, a 25% increase, while Padcev revenue hit $720 million, both exceeding analyst expectations.
• Sales of newly launched and acquired products contributed $3.8 billion, representing a 32% operational growth.
• Covid vaccine sales were $808 million, exceeding the $770.4 million expected, while Paxlovid sales were $449 million, above the $394.1 million forecast.
• Net income for the period was $3.24 billion, or 56 cents per share, compared to $3.54 billion, or 62 cents per share, in the third quarter of 2025.