Pfizer (PFE) Tops Q2 EPS by 12c, Raises FY Guidance

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July 28, 2020 6:47 AM EDT

(Updated - July 28, 2020 6:49 AM EDT)

Pfizer (NYSE: PFE) reported Q2 EPS of $0.78, $0.12 better than the analyst estimate of $0.66. Revenue for the quarter came in at $11.8 billion versus the consensus estimate of $11.55 billion.

GUIDANCE:

Pfizer sees 2020 EPS of $2.85-$2.95, versus the consensus of $2.88. Pfizer sees 2020 revenue of $48.6-50.6 billion, versus the consensus of $49.1 billion.

Based on results to date and these assumptions for the remainder of the year, Pfizer increased its 2020 financial guidance for Total Company(7) and New Pfizer(8) revenues and Adjusted diluted EPS(3) and reaffirmed all other financial guidance components. Total Company(7) financial guidance reflects a full year of revenue and expense contributions from Biopharma and Upjohn and is presented below.

Revenues

$48.6 to $50.6 billion

(previously $48.5 to $50.5 billion)

Adjusted Cost of Sales(3) as a Percentage of Revenues

19.5% to 20.5%

Adjusted SI&A Expenses(3)

$11.5 to $12.5 billion

Adjusted R&D Expenses(3)

$8.6 to $9.0 billion

Adjusted Other (Income)/Deductions(3)

Approximately $800 million of income

Effective Tax Rate on Adjusted Income(3)

Approximately 15.0%

Adjusted Diluted EPS(3)

$2.85 to $2.95

(previously $2.82 to $2.92)

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


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