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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. Other than that lost alliance revenues, pricing pressure and rising competition are hurting the top-line.
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.
The pharma giant has a mixed record of earnings surprises. The company’s earnings surpassed expectations in two of the last four quarters while missing in the other two, with an average positive surprise of 4.36%.
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:
Earning Beat: PFE beat first quarter earnings which came in at 69 cents while our consensus called for EPS of 67 cents.
Revenues Miss: Revenues missed expectations. Pfizer posted revenues of $12.78 billion, compared to our consensus estimate of $13.04 billion. Unfavorable currency movement cut Pfizer’s first quarter revenues by 1% ($110 million).
2017 Guidance: The company re-affirmed its previously issued 2017 financial guidance.
Revenues are expected in the range of $52 billion to $54 billion.
Adjusted earnings per share are expected in the range of $2.50–$2.60.
Pre-Market Trading: Shares declined 1.1% in pre-market trading.
Check back later for our full write up on this PFE earnings report later!
Sell These Stocks. Now.
Just released, today's 220 Zacks Rank #5 Strong Sells demand urgent attention. If any are lurking in your portfolio or Watch List, they should be removed immediately. These sinister companies because many appear to be sound investments. However, from 1988 through 2016, stocks from our Strong Sell list have actually performed 6X worse than the S&P 500.
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Pfizer (PFE) Tops Q1 Earnings Estimates, Misses Sales
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. Other than that lost alliance revenues, pricing pressure and rising competition are hurting the top-line.
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.
The pharma giant has a mixed record of earnings surprises. The company’s earnings surpassed expectations in two of the last four quarters while missing in the other two, with an average positive surprise of 4.36%.
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:
Earning Beat: PFE beat first quarter earnings which came in at 69 cents while our consensus called for EPS of 67 cents.
Revenues Miss: Revenues missed expectations. Pfizer posted revenues of $12.78 billion, compared to our consensus estimate of $13.04 billion. Unfavorable currency movement cut Pfizer’s first quarter revenues by 1% ($110 million).
2017 Guidance: The company re-affirmed its previously issued 2017 financial guidance.
Revenues are expected in the range of $52 billion to $54 billion.
Adjusted earnings per share are expected in the range of $2.50–$2.60.
Pre-Market Trading: Shares declined 1.1% in pre-market trading.
Check back later for our full write up on this PFE earnings report later!
Sell These Stocks. Now.
Just released, today's 220 Zacks Rank #5 Strong Sells demand urgent attention. If any are lurking in your portfolio or Watch List, they should be removed immediately. These sinister companies because many appear to be sound investments. However, from 1988 through 2016, stocks from our Strong Sell list have actually performed 6X worse than the S&P 500.
See today's Zacks ""Strong Sells"" absolutely free >>.