Pfizer Q1 Earnings Exceed Expectations
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 7 hours ago
0mins
Should l Buy PFE?
Source: CNBC
- Strong Performance: Pfizer reported adjusted earnings per share of 75 cents for Q1, surpassing the expected 72 cents, with revenue of $14.45 billion reflecting a 5% year-over-year increase, demonstrating robust market performance driven by both new and established products.
- Growth in New Products: The company saw a 22% operational growth in recently launched and acquired products, with the targeted cancer drug Padcev generating $591 million in revenue, a 39% increase from the previous year, exceeding analyst expectations of $542.3 million, indicating a strong return on investment in innovative therapies.
- Decline in Vaccine Sales: Despite the Covid vaccine and Paxlovid generating only $232 million and $186 million in sales, down 59% and 62% year-over-year respectively, Pfizer offset this impact with strong performance from established drugs like Eliquis, which generated $2.17 billion, a 13% increase.
- Stable Long-term Outlook: Pfizer reaffirmed its 2026 outlook, expecting adjusted earnings per share between $2.80 and $3.00 and revenue between $59.5 billion and $62.5 billion, reflecting confidence in navigating challenges from declining Covid product sales and increased market competition.
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Analyst Views on PFE
Wall Street analysts forecast PFE stock price to rise
16 Analyst Rating
5 Buy
11 Hold
0 Sell
Moderate Buy
Current: 26.300
Low
24.00
Averages
28.56
High
35.00
Current: 26.300
Low
24.00
Averages
28.56
High
35.00
About PFE
Pfizer Inc. is a research-based, global biopharmaceutical company. The Company is engaged in the discovery, development, manufacture, marketing, sale and distribution of biopharmaceutical products worldwide. Its Biopharma segment includes the Pfizer U.S. Commercial Division, and the Pfizer International Commercial Division. Its product categories include oncology, primary care and specialty care. Its oncology products include Ibrance, Xtandi, Padcev, Adcetris, Inlyta, Lorbrena, Bosulif, Tukysa, Braftovi, Mektovi, Orgovyx, Elrexfio, Tivdak and Talzenna. Its primary care products include Eliquis, Nurtec ODT/Vydura, Zavzpret, the Prevnar family, Comirnaty, Abrysvo, FSME/IMMUN-TicoVac, Nimenrix, Trumenba, and Paxlovid. Its specialty care products include Xeljanz, Enbrel (outside the United States and Canada), Inflectra, Abrilada, Cibinqo, Litfulo, Eucrisa, Velsipity, the Vyndaqel family, Genotropin, and others. Its PF-08653944 is an ultra-long-acting fully biased GLP-1 receptor agonist.
About the author

Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Revenue Performance: Last quarter, Pfizer reported revenues of $17.56 billion, down 1.2% year-over-year, which, while beating analyst expectations, showed a significant miss on organic revenue estimates, highlighting ongoing challenges for the company.
- Market Sentiment: Over the past month, Pfizer's stock has declined by 5.2%, contrasting sharply with peers like Eli Lilly and Merck, which reported revenue growth of 55.5% and 4.9%, respectively, indicating Pfizer's competitive disadvantages.
- Analyst Expectations: With an average analyst price target of $29.00 against a current share price of $26.38, there is a cautious outlook on Pfizer's future performance, especially as most analysts have revised their revenue estimates downward.
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- Favorable Legal Developments: Recent settlements regarding Vyndamax patent infringements and the Belgian Comirnaty contracts are anticipated to significantly enhance cash flow and revenue growth prospects post-2029, with management expressing confidence in a high single-digit CAGR over the next five years.
- Strong Product Growth: Launched and acquired products achieved 22% operational growth in Q1, with Nurtec contributing 41% operational growth, demonstrating the company's competitive strength and robust product demand, further solidifying its market position.
- Ongoing Cost Control: Pfizer's adjusted operating margin stood at 38%, with expectations to achieve $7.2 billion in net cost savings by the end of 2026, showcasing effective cost management and resource allocation that supports dividend maintenance and future capital returns.
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