Pfizer (PFE) Tops Q2 EPS by 4c

Pfizer (NYSE: PFE) reported Q2 EPS of $0.56, $0.04 better than the analyst estimate of $0.52. Revenue for the quarter came in at $11 billion versus the consensus estimate of $11.42 billion.

Raised Midpoints of 2015 Financial Guidance Ranges for Reported Revenues by $500 Million and Reported and Adjusted(2) Diluted EPS by $0.03 and $0.04, Respectively, Due to Strong Performance to Date and Improved Business Outlook

EXECUTIVE COMMENTARY

Ian Read, Chairman and Chief Executive Officer, stated, “Our second-quarter and year-to-date financial performance is the result of continued business momentum, driven by solid execution of recent product launches in our Innovative Products business, notably Ibrance and Prevnar 13 in adults in the U.S., along with continued growth from Eliquis and Xeljanz, increased focus on and support of growth initiatives within our Established Products business as well as shareholder-friendly capital allocation. For the remainder of 2015, we look forward to completing the pending acquisition of Hospira, Inc. (Hospira), which we expect will meaningfully enhance our Established Products business, particularly in sterile injectables and biosimilars, and continuing to advance our late-stage pipeline in important areas such as oncology and immuno-oncology, vaccines, rare disease, cardiovascular disease and biosimilars. I continue to see both of our businesses as highly focused, well managed and competitively positioned in their key markets.”

Frank D’Amelio, Chief Financial Officer, stated, “Overall, I am very pleased with our second-quarter 2015 financial results. We were able to grow revenues by 1% excluding the impact of foreign exchange, marking the third consecutive quarter of operational revenue growth, despite the continued significant negative impact from product losses of exclusivity, primarily Celebrex and Zyvox in the U.S. and Lyrica in certain developed Europe markets.

“As a result of our strong operational performance to date coupled with an improved operational outlook for the remainder of the year, we are raising the midpoint of our 2015 financial guidance(3) range for reported revenues(1) by $500 million and the midpoint of our guidance range for adjusted diluted EPS(2) by $0.04. Changes in foreign exchange rates since mid-April 2015 did not materially impact our latest guidance,” Mr. D'Amelio concluded.

For earnings history and earnings-related data on Pfizer (PFE) click here.

You May Also Be Interested In

• FedEx falls 4% as FY2027 profit forecast misses expectations despite Q4 beat
• BofA lists top 5 themes driving next $1tn in incremental semi sales
• FedEx (FDX) Tops Q4 EPS by 39c, Beats on Revenue; Offers FY27 EPS Guidance