Pfizer (PFE) Tops Q4 EPS by 1c; Issues Light FY15 Outlook

Pfizer (NYSE: PFE) reported Q4 EPS of $0.54, $0.01 better than the analyst estimate of $0.53. Revenue for the quarter came in at $13.1 billion versus the consensus estimate of $12.94 billion.

Pfizer sees FY2015 EPS of $2.00 - $2.10, versus the consensus of $2.18. Pfizer sees FY2015 revenue of $44.5 - $46.5 billion, versus the consensus of $47.56 billion.

EXECUTIVE COMMENTARY

Ian Read, Chairman and Chief Executive Officer, stated, “During 2014, despite significant continued revenue headwinds from product losses of exclusivity and co-promote expiries, we were able to deliver modest adjusted diluted EPS(2) growth. This was achieved through a combination of incremental revenue generation from key in-line products and recent product launches, responsible expense management as well as supportive capital allocation.”

“We continued to focus on strengthening our innovative core and have made notable progress in this area through both internal advancements and strategic business development. As we look forward to 2015, we expect continued momentum with our pipeline, notably the potential U.S. approval of Ibrance (palbociclib) for advanced breast cancer, as well as anticipated strong growth in emerging markets and from our recent product launches in developed markets, including Eliquis, Xeljanz, Prevnar 13 in adults and Nexium 24HR. We are now in a position to commence over 20 registrational studies during the coming four years with candidates that are based upon strong science and target indications that have significant unmet need.”

Mr. Read continued, “On the commercial front, our innovative and established businesses continue to benefit from a sharp focus on execution in their respective markets and we expect each will demonstrate continued improvement in their competitive positioning.”

“Further, we remain in a strong financial position that will enable us to invest in our business at appropriate levels, continue to pursue attractive business development activities and also continue to return meaningful capital directly to our shareholders,” Mr. Read concluded.

Frank D’Amelio, Chief Financial Officer, stated, “For full-year 2014, I was pleased with our financial performance, the operational execution of our newly-formed businesses and our ability to continue delivering shareholder value through prudent capital allocation. Regarding our financial performance, we achieved or exceeded all elements of our 2014 financial guidance despite an operating environment that remains challenging. In addition, we began operating within our new commercial structure in 2014 and saw significant progress across each of our businesses. Finally, we continued to demonstrate our commitment to delivering significant value to shareholders by returning nearly $12 billion to shareholders through share repurchases and dividends in 2014.”

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

You May Also Be Interested In

• Elevance Health (ELV) hikes 2024 earnings outlook, shares climb
• Infosys Limited (INFY) Misses Q4 Revenue
• S&T Bancorp (STBA) Tops Q1 EPS by 3c