uploads///close up _

Pfizer Missed Analysts’ Third-Quarter Revenue Estimates

By

Dec. 4 2020, Updated 10:52 a.m. ET

A look at Pfizer’s earnings

Pfizer (PFE) released its third-quarter earnings on October 30. The company’s Innovative Health business reported another strong quarter. The company reported a 1% increase in its revenues to ~$13.30 billion for the third quarter of 2018 as compared to ~$13.17 billion during the third quarter of 2017.

The above chart compares revenues and earnings per share (or EPS) for Pfizer since the first quarter of 2017. Pfizer surpassed Wall Street analysts’ estimates for EPS, but missed the analysts’ estimates for revenues, and reported EPS of $0.78 on revenues of ~$13.3 billion as compared to the estimated EPS of $0.75 on revenues of ~$13.5 billion during the third quarter of 2018.

Article continues below advertisement

Performance in Q3

Pfizer’s top line increased by 1% to ~$13.30 million during the third quarter of 2018 including a 2% increase in operating revenues, offset by a 1% negative impact of foreign exchange during the quarter.

Geographical performance

The US markets reported a 3% decline in revenues to ~$6.36 billion during the third quarter of 2018 as compared to revenues of ~$6.53 billion during the third quarter of 2017. The decline was driven by a 16% decline in the sales of essential health products to ~$1.48 billion, partially offset by a 2% increase in innovative health product sales to ~$4.88 billion during the third quarter of 2018.

The company’s international markets reported a 5% increase in revenues to ~$6.94 billion during the third quarter of 2018 including 6% operational growth, offset by a 1% negative impact of foreign exchange. The growth was driven by a 7% increase in sales of innovative health products to ~$3.59 billion and a 2% increase in the sales of essential health products to ~$3.35 billion during the third quarter of 2018.

The Health Care Select Sector SPDR ETF (XLV) holds 7.3% of its total investments in Pfizer (PFE), 10.8% in Johnson & Johnson (JNJ), 5.5% in Merck (MRK), and 3.0% in Eli Lilly and Co. (LLY).

Advertisement

More From Market Realist

    • CONNECT with Market Realist
    • Link to Facebook
    • Link to Twitter
    • Link to Instagram
    • Link to Email Subscribe
    Market Realist Logo
    Do Not Sell My Personal Information

    © Copyright 2021 Market Realist. Market Realist is a registered trademark. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.