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What you need to know
- Pfizer on Tuesday affirmed its full-year 2024 projections and issued 2025 revenue and adjusted profit guidance in line with analysts' estimates.
- In 2024, the drugmaker anticipates revenues between $61 billion and $64 billion. It also expects earnings per share adjusted to increase in 2025.
- Pfizer is experiencing revenue growth year-overyear in both of its most recent quarterly periods for the first since COVID vaccination sales reached their peak.
Pfizer’s (PFE), shares climbed Tuesday after the company confirmed its projections for 2024 and provided revenue and profit estimates in 2025 that were consistent with analyst expectations.
Pfizer has stated that it anticipates revenues in the range of $61 to $64 Billion by 2024, and adjusted earnings per share between $2.75 – $2.95. Visible Alpha’s estimates show that VisibleAlph analysts are predicting $63,01billion in revenue with adjusted earnings of 2.93 dollars per share.
Pfizer expects the same range of revenue in 2025. Analysts see an increase to $63,24 billion. Pfizer’s adjusted earnings per share (EPS) is expected to rise to between $2.80 and $3.00. Analysts project $2.89.
Pfizer Met 2024 Cost-Cutting Goals
Pfizer has achieved its goal of cutting $4 billion from costs by 2024. The company announced Tuesday that an extra $500 million will be saved over the coming year. For the first time after sales of COVID peaked, Pfizer has seen revenue increase in both its most recent quarterly reports.
“We also expect to continue improving our operating margins with focused financial discipline,” Chief Executive Officer (CEO) Dr. Albert Bourla said.
Pfizer stock has recently increased by 4.5%. However, it is still down around 8% so far this year.
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