Pfizer delivered strong Q3 2024 performance with significant revenue growth, driven by oncology and COVID-19 products. The company increased its full-year guidance and continued to make strategic advancements in its pipeline. However, challenges include the withdrawal of Oxbryta and uncertainties related to the Inflation Reduction Act.

Company Guidance

During Pfizer's Q3 2024 earnings call, the company provided updated guidance for the full year, highlighting its robust financial performance and strategic priorities. Pfizer raised its full-year 2024 revenue guidance to a range of $61 billion to $64 billion, with COVID-19 product revenues expected at $10.5 billion, split between $5 billion for COMIRNATY and $5.5 billion for PAXLOVID. The adjusted diluted earnings per share guidance was also increased to $2.75 to $2.95, reflecting strong top-line performance and efficient cost management. The company emphasized its focus on strategic priorities, including market share gains, revenue growth, and cost reduction initiatives, aiming to deliver long-term shareholder value. Additionally, Pfizer reported notable growth in its oncology portfolio, with XTANDI and TALZENNA showing year-over-year growth of 28% and 77%, respectively. The company also highlighted its continued efforts to enhance operational efficiency and capital deployment strategies to support its financial commitments and shareholder returns.

Oncology Segment Growth

Oncology delivered a 31% year-over-year performance growth, driven by demand for products such as XTANDI and TALZENNA.

COVID-19 Product Performance

PAXLOVID generated $2.7 billion in revenue, and COMIRNATY contributed $1.4 billion. COVID-19 products contributed to a 32% operational revenue growth.

Strong Overall Revenue Growth

Pfizer reported a total revenue of $17.7 billion in Q3 2024, representing a 32% operational growth.

Pipeline Advancements

Phase III studies initiated for several oncology candidates, including HER2-low and non-squamous non-small cell lung cancer treatments.

Increased Guidance for 2024

Full-year revenue guidance increased by $1.5 billion to a range of $61 billion to $64 billion, with adjusted diluted EPS guidance raised by $0.30.

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Pfizer (PFE) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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PFE Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Jul 31, 2018	2018 (Q2)	- / 0.81	0.67	20.90% (+0.14)	―	―
Oct 30, 2018	2018 (Q3)	- / 0.78	0.67	16.42% (+0.11)	―	―
Jan 29, 2019	2018 (Q4)	- / 0.64	0.62	3.23% (+0.02)	―	―
Apr 30, 2019	2019 (Q1)	- / 0.85	0.77	10.39% (+0.08)	―	―
Jul 29, 2019	2019 (Q2)	- / 0.80	0.81	-1.23% (-0.01)	―	―
Oct 29, 2019	2019 (Q3)	- / 0.75	0.78	-3.85% (-0.03)	―	―
Jan 28, 2020	2019 (Q4)	- / 0.55	0.64	-14.06% (-0.09)	―	―
Apr 28, 2020	2020 (Q1)	- / 0.80	0.85	-5.88% (-0.05)	―	―
Jul 28, 2020	2020 (Q2)	- / 0.78	0.8	-2.50% (-0.02)	―	―
Oct 27, 2020	2020 (Q3)	- / 0.72	0.75	-4.00% (-0.03)	―	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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PFE Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Oct 29, 2024	$28.42	$28.02	-1.41%
Jul 30, 2024	$30.25	$30.91	+2.18%
May 01, 2024	$24.51	$26.00	+6.08%
Jan 30, 2024	$26.29	$25.85	-1.67%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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