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Pfizer (PFE) Misses on Q4 Earnings; Tops Sales Estimate
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Pfizer Inc.’s (PFE - Free Report) is one of the most well-known names in the pharmaceutical sector not just for its medicines and vaccines but also for its consumer healthcare products. This New York-based company is well known for products like Prevnar, Lyrica, Lipitor and Celebrex among others.
However, like many of its peers, PFE is facing generic competition and pricing pressure for several products like Lipitor, Norvasc, Protonix, Camptosar, Celebrex and Zoloft. The influx of generic competition will not only put downward pressure on the company’s pricing, it will also result in gross margins contracting.
In this scenario, investor focus remains on late-stage pipeline candidates and their commercial potential and performance of new products apart from the usual top-and bottom-line numbers. While the Sep 2015 Hospira acquisition has significantly expanded Pfizer's sterile injectable and biosimilar capabilities, the Sep 2016 acquisition of Medivation has strengthened Pfizer’s cancer franchise by adding prostate cancer treatment, Xtandi, to its portfolio.
PFE has a good earnings track record with the company delivering positive earnings surprises in three of the last four quarters with an average surprise of 6.34%.
Currently, PFE has a Zacks Rank #3 (Hold), but that could definitely change following the company’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings Miss: PFE missed fourth quarter earnings which came in at 47 cents while our consensus called for EPS of 50 cents.
Revenues Beat: Revenues beat expectations. Pfizer posted revenues of $13.63 billion, compared to our consensus estimate of $13.55 billion. Unfavorable currency movement cut Pfizer’s fourth quarter revenues by 2% ($228 million).
2017 Guidance: The company issued 2017 financial guidance.
Adjusted earnings per share are expected in the range of $2.50-$2.60. The Zacks Consensus Estimate stood at $2.56 per share.
Revenues are expected in the range of $52 billion - $54 billion in 2017. The guidance fell slightly short of the Zacks Consensus Estimate of $54.26 billion.
Pre-Market Trading: Shares declined 1.3% in pre-market trading.
Check back later for our full write up on this PFE earnings report later!
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Pfizer (PFE) Misses on Q4 Earnings; Tops Sales Estimate
Pfizer Inc.’s (PFE - Free Report) is one of the most well-known names in the pharmaceutical sector not just for its medicines and vaccines but also for its consumer healthcare products. This New York-based company is well known for products like Prevnar, Lyrica, Lipitor and Celebrex among others.
However, like many of its peers, PFE is facing generic competition and pricing pressure for several products like Lipitor, Norvasc, Protonix, Camptosar, Celebrex and Zoloft. The influx of generic competition will not only put downward pressure on the company’s pricing, it will also result in gross margins contracting.
In this scenario, investor focus remains on late-stage pipeline candidates and their commercial potential and performance of new products apart from the usual top-and bottom-line numbers. While the Sep 2015 Hospira acquisition has significantly expanded Pfizer's sterile injectable and biosimilar capabilities, the Sep 2016 acquisition of Medivation has strengthened Pfizer’s cancer franchise by adding prostate cancer treatment, Xtandi, to its portfolio.
PFE has a good earnings track record with the company delivering positive earnings surprises in three of the last four quarters with an average surprise of 6.34%.
Pfizer, Inc. Price and EPS Surprise
Pfizer, Inc. Price and EPS Surprise | Pfizer, Inc. Quote
Currently, PFE has a Zacks Rank #3 (Hold), but that could definitely change following the company’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings Miss: PFE missed fourth quarter earnings which came in at 47 cents while our consensus called for EPS of 50 cents.
Revenues Beat: Revenues beat expectations. Pfizer posted revenues of $13.63 billion, compared to our consensus estimate of $13.55 billion. Unfavorable currency movement cut Pfizer’s fourth quarter revenues by 2% ($228 million).
2017 Guidance: The company issued 2017 financial guidance.
Adjusted earnings per share are expected in the range of $2.50-$2.60. The Zacks Consensus Estimate stood at $2.56 per share.
Revenues are expected in the range of $52 billion - $54 billion in 2017. The guidance fell slightly short of the Zacks Consensus Estimate of $54.26 billion.
Pre-Market Trading: Shares declined 1.3% in pre-market trading.
Check back later for our full write up on this PFE earnings report later!
Zacks' Top 10 Stocks for 2017
In addition to the stocks discussed above, would you like to know about our 10 finest tickers for the entirety of 2017?
Who wouldn't? These 10 are painstakingly hand-picked from 4,400 companies covered by the Zacks Rank. They are our primary picks to buy and hold. Be among the very first to see them >>