Pfizer Raises Full-Year Guidance After Beating Q3 Estimates with 31% Revenue Growth and Adjusted EPS of $1.06

Oct 29, 2024, 11:23 AM

Pfizer Inc. reported strong third-quarter 2024 results, significantly surpassing earnings estimates and raising its full-year guidance. The company posted Q3 revenue of $17.7 billion, up 31% year-over-year, against an estimated $15.2 billion. Adjusted earnings per share (EPS) for the quarter were $1.06, exceeding the forecast of $0.64. The reported diluted EPS was $0.78. Pfizer increased its full-year 2024 revenue guidance to a range of $61.0 billion to $64.0 billion, up from the previous range of $59.5 billion to $62.5 billion. The adjusted EPS guidance was also raised to $2.75 to $2.95, from the prior range of $2.45 to $2.65. The company's performance was bolstered by sales from its Covid vaccine and Paxlovid, contributing roughly $5 billion and $5.5 billion respectively. The third-quarter revenues represented 32% year-over-year operational growth.