Pfizer Inc. (NYSE: PFE) records $1.08 EPS in the fourth quarter beating the $0.88 estimates by around 20 cents. The company also recorded $23.8 billion in the fourth quarter, which was less than the $24.17 billion analyst estimate. Fourth-quarter revenue was driven by a 106% increase in operational growth, excluding Paxlovoid and Commimaty contributions.
Pfizer topple Q4 consensus estimates
The company recorded $0.59 diluted EPS in the fourth quarter and $1.08 adjusted diluted EPS in the same quarter. On the other hand, full-year diluted and EPS and adjusted diluted EPS came to around $3.85 and $4.42, respectively. Full-year revenues came to about $81.3 billion, representing a 92% increase in operational growth.
The company also provided financial guidance for 2022. In addition, it raised Comarinaty’s previous revenue guidance offered revenue guidance for Paxlovoid for the first time ever. Comirnaty is its BioNTech COVID-19 Vaccine, while Paxlovid is its COVID-19 oral treatment.
Pfizer Chief Executive Officer and Chairman Dr. Albert Bouria said:
In the early days of the COVID-19 pandemic, we committed to use all of the resources and expertise we had at our disposal to help protect populations globally against this deadly virus, as well as to offer treatments to help avoid the worst outcomes when infections do occur.
The CEO claimed that they risked billions of dollars trying to achieve all these goals, not sure whether all those investments would bear fruit. He said that they were now proud to announce how they delivered the first COVID-19 oral treatment approved by the FDA and the first COVID-19 vaccine also approved by the FDA.
The company’s Chief Financial Officer and Executive VP, Frank D’Amelio said:
Today we are issuing guidance for the coming year which, if achieved, would represent the highest level of annual revenues and Adjusted diluted EPS(3) in Pfizer’s long history. In addition, we just concluded a year where we provided tremendous value to society, including to both patients and shareholders.
2022 financial guidance
The mid-range for financial guidance for revenues will represent an increase of 23% from 2021, which includes an expected 1%, or $1.1 billion unfavorable impact from foreign exchange changes. The company also expects that Comirnaty will bring in revenue of about $.32 billion.