We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
PFE tops Q3 estimates as strength in Eliquis, Padcev and Vyndaqel offsets lower COVID-19 product sales.
PFE raises its 2026 revenue guidance to $62-$64 billion and adjusted EPS outlook to $2.95-$3.05.
Sales of Pfizer's launched and acquired products grow 32% operationally, while non-COVID revenues increase 7%
Pfizer (PFE - Free Report) reported third-quarter 2026 adjusted earnings per share of 87 cents, beating the Zacks Consensus Estimate of 72 cents. Earnings were flat year over year.
Revenues came in at $16.58 billion, relatively flat year over year on both a reported and operational basis. Total revenues beat the Zacks Consensus Estimate of $16.13 billion. Growth in Eliquis, Padcev, the Vyndaqel family, Nurtec and Lorbrena was offset by declining sales of COVID-19 products and the Prevnar family.
International revenues rose 1% operationally to $5.98 billion, while U.S. revenues declined 1% to $10.60 billion.
PFE’s Segment Discussion
Pfizer reports its revenues under four broad sub-segments of its Biopharma operating segment — Primary Care, Oncology, Specialty Care, and Hospital and Biosimilars. The Hospital and Biosimilars division was created in the first quarter of 2026
Primary Care sales declined 9% operationally to $6.97 billion. Oncology revenues increased 10% to $4.33 billion, while Specialty Care sales rose 7% to $3.35 billion. Hospital and Biosimilars revenues increased 2% to $1.64 billion.
PFE Primary Care Sales
In Primary Care, alliance revenues and direct sales from partner Bristol Myers Squibb (BMY - Free Report) for Eliquis increased 25% on an operational basis to $2.52 billion, driven by higher net prices in the United States and higher global demand. This was partially offset by generic competition and price erosion in certain international markets. Eliquis sales beat the Zacks Consensus Estimate of $2.38 billion.
Prevnar family revenues declined 10% to $1.56 billion, missing the Zacks Consensus Estimate of $1.67 billion. U.S. sales declined 11%, while international sales fell 9% operationally. Lower vaccination rates in the adult and pediatric indications, along with market share erosion in the adult indication in the United States, hurt sales.
Direct sales and alliance revenues from partner BioNTech (BNTX - Free Report) for the COVID vaccine, Comirnaty, declined 29% to $808 million, reflecting lower U.S. utilization due to narrower vaccination recommendations, a smaller favorable adjustment to the returns provision and lower contractual deliveries in certain international markets. However, sales beat the Zacks Consensus Estimate of $776 million.
Paxlovid revenues plunged 63% to $449 million, reflecting lower COVID-19 infections across the United States and international markets. Sales exceeded the Zacks Consensus Estimate of $326 million.
Nurtec ODT/Vydura contributed $547 million in the quarter, up 33% year over year, driven by strong demand in the United States and launch uptake in certain international markets.
Pfizer's RSV vaccine, Abrysvo, recorded sales of $303 million, up 9% year over year.
PFE’s Oncology Sales
In Oncology, Ibrance revenues increased 3% to $1.08 billion, exceeding the Zacks Consensus Estimate of $1.03 billion.
Padcev sales climbed 55% to $720 million and surpassed the Zacks Consensus Estimate of $692 million. Padcev benefited from increased market share in first-line locally advanced or metastatic urothelial cancer and launch uptake in the cisplatin-ineligible muscle-invasive bladder cancer indication.
Xtandi alliance revenues declined 6% to $541 million. Lorbrena revenues rose 43% to $387 million, driven by increased patient share in the first-line ALK-positive metastatic non-small cell lung cancer treatment setting.
Adcetris sales increased 8% to $231 million, while Inlyta revenues were flat at $232 million. Braftovi/Mektovi sales increased 21% to $244 million.
Among other oncology drugs, Tukysa revenues increased 30% to $142 million, while Orgovyx sales climbed 37% to $153 million.
Pfizer's Specialty Care and Hospital Sales
Vyndaqel family revenues increased 12% to $1.77 billion, exceeding the Zacks Consensus Estimate of $1.68 billion. Growth reflected continued U.S. market expansion, strong demand driven by increased patient diagnoses in international markets and improved access in certain countries.
Xeljanz sales declined 32% to $213 million, while Enbrel revenues fell 2% to $151 million. Cibinqo sales rose 26% to $101 million.
Within Hospital and Biosimilars, oncology biosimilar revenues increased 20% to $378 million, while Inflectra sales rose 7% to $186 million.
PFE Raises 2026 Sales and EPS Guidance
Pfizer raised its 2026 revenue guidance to a range of $62.0-$64.0 billion from the previous expectation of $60.5-$62.5 billion. The revised range represents a $1.5 billion increase at the midpoint and reflects strong year-to-date business performance. The Zacks Consensus Estimate was $62.5 billion.
The company also raised and narrowed its adjusted earnings guidance to $2.95-$3.05 per share from the previous range of $2.80-$3.00. The Zacks Consensus Estimate was $2.94 per share.
The adjusted EPS guidance includes an approximately 10-cent-per-share unfavorable impact related to a one-time $650 million acquired in-process research and development charge associated with Pfizer's licensing and collaboration agreement with Innovent Biologics.
Our Take on PFE’s Q3 Results
Pfizer delivered solid third-quarter results, beating estimates for both earnings and revenues. Eliquis, Comirnaty, Paxlovid, Vyndaqel, Ibrance and Padcev exceeded the respective Zacks Consensus Estimate, while Prevnar fell short.
Strength in non-COVID products continued to offset declining pandemic-related sales. Excluding Comirnaty and Paxlovid, revenues increased 7% operationally in the quarter.
Sales of Pfizer's launched and acquired products grew an impressive 32% operationally, reflecting strong contributions from products such as Padcev, Nurtec and Lorbrena.
Pfizer also raised its full-year 2026 revenue and earnings guidance, supported by strong year-to-date commercial performance.
However, despite the company’s better-than-expected third-quarter results and increased guidance, Pfizer’s shares declined slightly in pre-market trading.
Pfizer’s stock has risen 24.8% so far this year compared with an increase of 24.6% for the industry.
Image Source: Zacks Investment Research
Pfizer continues to navigate a challenging transition as it seeks to replace declining COVID-related revenues and offset upcoming patent expirations through new product launches, pipeline development and contributions from acquisitions. The company expects a high single-digit revenue CAGR for five years, starting from year-end 2028.
The company is rebuilding its pipeline in oncology and obesity, which it believes can drive growth in 2028 and beyond. Several key pivotal readouts are expected over the next 12 months.
View the Zacks #1 Rank List
Image: Bigstock
PFE Beats Q3 Earnings & Sales Estimates, Raises 2026 Guidance
Key Takeaways
Pfizer (PFE - Free Report) reported third-quarter 2026 adjusted earnings per share of 87 cents, beating the Zacks Consensus Estimate of 72 cents. Earnings were flat year over year.
Revenues came in at $16.58 billion, relatively flat year over year on both a reported and operational basis. Total revenues beat the Zacks Consensus Estimate of $16.13 billion. Growth in Eliquis, Padcev, the Vyndaqel family, Nurtec and Lorbrena was offset by declining sales of COVID-19 products and the Prevnar family.
International revenues rose 1% operationally to $5.98 billion, while U.S. revenues declined 1% to $10.60 billion.
PFE’s Segment Discussion
Pfizer reports its revenues under four broad sub-segments of its Biopharma operating segment — Primary Care, Oncology, Specialty Care, and Hospital and Biosimilars. The Hospital and Biosimilars division was created in the first quarter of 2026
Primary Care sales declined 9% operationally to $6.97 billion. Oncology revenues increased 10% to $4.33 billion, while Specialty Care sales rose 7% to $3.35 billion. Hospital and Biosimilars revenues increased 2% to $1.64 billion.
PFE Primary Care Sales
In Primary Care, alliance revenues and direct sales from partner Bristol Myers Squibb (BMY - Free Report) for Eliquis increased 25% on an operational basis to $2.52 billion, driven by higher net prices in the United States and higher global demand. This was partially offset by generic competition and price erosion in certain international markets. Eliquis sales beat the Zacks Consensus Estimate of $2.38 billion.
Prevnar family revenues declined 10% to $1.56 billion, missing the Zacks Consensus Estimate of $1.67 billion. U.S. sales declined 11%, while international sales fell 9% operationally. Lower vaccination rates in the adult and pediatric indications, along with market share erosion in the adult indication in the United States, hurt sales.
Direct sales and alliance revenues from partner BioNTech (BNTX - Free Report) for the COVID vaccine, Comirnaty, declined 29% to $808 million, reflecting lower U.S. utilization due to narrower vaccination recommendations, a smaller favorable adjustment to the returns provision and lower contractual deliveries in certain international markets. However, sales beat the Zacks Consensus Estimate of $776 million.
Paxlovid revenues plunged 63% to $449 million, reflecting lower COVID-19 infections across the United States and international markets. Sales exceeded the Zacks Consensus Estimate of $326 million.
Nurtec ODT/Vydura contributed $547 million in the quarter, up 33% year over year, driven by strong demand in the United States and launch uptake in certain international markets.
Pfizer's RSV vaccine, Abrysvo, recorded sales of $303 million, up 9% year over year.
PFE’s Oncology Sales
In Oncology, Ibrance revenues increased 3% to $1.08 billion, exceeding the Zacks Consensus Estimate of $1.03 billion.
Padcev sales climbed 55% to $720 million and surpassed the Zacks Consensus Estimate of $692 million. Padcev benefited from increased market share in first-line locally advanced or metastatic urothelial cancer and launch uptake in the cisplatin-ineligible muscle-invasive bladder cancer indication.
Xtandi alliance revenues declined 6% to $541 million. Lorbrena revenues rose 43% to $387 million, driven by increased patient share in the first-line ALK-positive metastatic non-small cell lung cancer treatment setting.
Adcetris sales increased 8% to $231 million, while Inlyta revenues were flat at $232 million. Braftovi/Mektovi sales increased 21% to $244 million.
Among other oncology drugs, Tukysa revenues increased 30% to $142 million, while Orgovyx sales climbed 37% to $153 million.
Pfizer's Specialty Care and Hospital Sales
Vyndaqel family revenues increased 12% to $1.77 billion, exceeding the Zacks Consensus Estimate of $1.68 billion. Growth reflected continued U.S. market expansion, strong demand driven by increased patient diagnoses in international markets and improved access in certain countries.
Xeljanz sales declined 32% to $213 million, while Enbrel revenues fell 2% to $151 million. Cibinqo sales rose 26% to $101 million.
Within Hospital and Biosimilars, oncology biosimilar revenues increased 20% to $378 million, while Inflectra sales rose 7% to $186 million.
PFE Raises 2026 Sales and EPS Guidance
Pfizer raised its 2026 revenue guidance to a range of $62.0-$64.0 billion from the previous expectation of $60.5-$62.5 billion. The revised range represents a $1.5 billion increase at the midpoint and reflects strong year-to-date business performance. The Zacks Consensus Estimate was $62.5 billion.
The company also raised and narrowed its adjusted earnings guidance to $2.95-$3.05 per share from the previous range of $2.80-$3.00. The Zacks Consensus Estimate was $2.94 per share.
The adjusted EPS guidance includes an approximately 10-cent-per-share unfavorable impact related to a one-time $650 million acquired in-process research and development charge associated with Pfizer's licensing and collaboration agreement with Innovent Biologics.
Our Take on PFE’s Q3 Results
Pfizer delivered solid third-quarter results, beating estimates for both earnings and revenues. Eliquis, Comirnaty, Paxlovid, Vyndaqel, Ibrance and Padcev exceeded the respective Zacks Consensus Estimate, while Prevnar fell short.
Strength in non-COVID products continued to offset declining pandemic-related sales. Excluding Comirnaty and Paxlovid, revenues increased 7% operationally in the quarter.
Sales of Pfizer's launched and acquired products grew an impressive 32% operationally, reflecting strong contributions from products such as Padcev, Nurtec and Lorbrena.
Pfizer also raised its full-year 2026 revenue and earnings guidance, supported by strong year-to-date commercial performance.
However, despite the company’s better-than-expected third-quarter results and increased guidance, Pfizer’s shares declined slightly in pre-market trading.
Pfizer’s stock has risen 24.8% so far this year compared with an increase of 24.6% for the industry.
Pfizer continues to navigate a challenging transition as it seeks to replace declining COVID-related revenues and offset upcoming patent expirations through new product launches, pipeline development and contributions from acquisitions. The company expects a high single-digit revenue CAGR for five years, starting from year-end 2028.
The company is rebuilding its pipeline in oncology and obesity, which it believes can drive growth in 2028 and beyond. Several key pivotal readouts are expected over the next 12 months.
PFE’s Zacks Rank
Pfizer has a Zacks Rank #3 (Hold) currently. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Pfizer Inc. Price and Consensus
Pfizer Inc. price-consensus-chart | Pfizer Inc. Quote