Pfizer Inc. (NYSE:PFE) on Tuesday reported third-quarter sales of $16.58 billion, beating the consensus of $15.87 billion.
The company said revenues came in ahead of expectations, with strong 7% operational revenue growth in non-COVID products, driven by key brands in the U.S. and select international markets, offset by lower revenues from COVID-19 products.
Pfizer’s adjusted earnings came in at 87 cents per share, beating the consensus of 72 cents.
Revenue Drivers and Non-COVID Portfolio Performance
Total revenue dipped slightly from a year earlier. The operational decrease was driven by lower revenues from COVID-19 products and the Prevnar family, largely offset by higher revenues for Eliquis, Padcev, the Vyndaqel family, Nurtec and Lorbrena.
Excluding contributions from Comirnaty and Paxlovid, revenues for the third quarter grew 7% operationally.
Launched and acquired products contributed $3.8 billion in revenues and grew 32% operationally.
Key Drug Sales: Oncology Gains Offset Vaccine Declines
Eliquis (a blood thinner) sales were up 25% to $2.52 billion. Padcev (a cancer drug) sales jumped 55% to $720 million.
Vyndaqel family sales increased 12% to $1.77 billion. Paxlovid sales fell 63% to $449 million, and Comirnaty revenues were $808 million, down 29%.
Prevnar family sales were down 10% to $1.56 billion.
Long-Term Outlook and Pipeline Developments
In earnings prepared remarks, Chairman and CEO Albert Bourla said, “I’m confident Pfizer is well positioned for growth toward the end of the decade and for long-term shareholder value creation. We have line of sight to our aim of delivering a risk-adjusted high-single-digit revenue CAGR from year-end 2028 through year-end 2033.”
Bourla also said, “Our obesity program continued to advance, and recent milestones in oncology, immunology and vaccines further demonstrate the potential of our pipeline. With a robust slate of expected catalysts ahead, I believe we’re well positioned to deliver meaningful new medicines for patients and lasting value in the years ahead.”
Upgraded Full-Year 2026 Guidance
Pfizer raised its fiscal 2026 sales guidance to $62 billion to $64 billion, from $60.5 billion to $62.5 billion, compared with the consensus of $62.17 billion.
The U.S. drug giant raised its 2026 adjusted earnings guidance to $2.95 to $3.05 per share, from $2.80 to $3.00 per share, versus the consensus of $2.96.
PFE Stock Price Activity: Pfizer shares are trading lower by 1.01% at $30.36 at the time of publication on Tuesday, according to Benzinga Pro data.
Photo via Shutterstock
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