Pfizer Q3 revenue beats estimates on new launches; raises guidance

Pfizer

03/11/2026 11:53

Overview
U.S. pharmaceutical firm's Q3 revenue was flat yr/yr but beat analyst expectations
Adjusted EPS for Q3 beat analyst expectations
Company raised 2026 revenue and adjusted EPS guidance on strong performance of new products

Outlook
Pfizer raises 2026 revenue guidance to $62.0-$64.0 bln from $60.5-$62.5 bln
Pfizer lifts 2026 adj diluted EPS guidance to $2.95-$3.05 from $2.80-$3.00
Guidance factors in $1.1 bln revenue hit from generic and biosimilar competition in 2026

Result Drivers
NEW AND ACQUIRED PRODUCTS - Co said launched and acquired products drove 32% operational revenue growth yr/yr, per CFO Cecile Guegan
NON-COVID PRODUCTS - Co said non-COVID products delivered 7% operational revenue growth in Q3
PRODUCT MIX SHIFT - Higher sales of Eliquis, Padcev, Vyndaqel, Nurtec and Lorbrena offset declines in COVID-19 and Prevnar products

Company press release: ID:nBw7NkFSQa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
Beat
$16.58 bln
$15.87 bln (16 Analysts)
Q3 Adjusted EPS
Beat
$0.87
$0.73 (18 Analysts)
Q3 EPS
 
$0.56
 
Q3 Net Income
 
$3.24 bln
 

Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 10 "strong buy" or "buy", 17 "hold" and 3 "sell" or "strong sell"
The average consensus recommendation for the pharmaceuticals peer group is "buy."
Wall Street's median 12-month price target for Pfizer Inc. is $28.00, about 8.7% below its November 2 closing price of $30.67
The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 9 three months ago

Reuters Recommended Reads
Nov 3 - Pfizer names Cecile Guegan as finance chief
Nov 3 - Bayer hikes 2026 profit outlook as pharma unit beats expectations
Nov 2 - Vertex Pharmaceuticals' Q3 revenue slightly beats estimates, outlook raised

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)