Pfizer Inc. (PFE) is scheduled to report earnings results for the third quarter of 2018 on Tuesday, October 30, before market opens. Wall Street anticipates earnings of $0.76 per share on revenue of $13.5 billion, reflecting year-over-year increases of 13.4% and 2.6%, respectively.
The company has consistently topped estimates in the past four quarters and is on track to do the same in the to-be-reported quarter as well. For the second quarter, Pfizer reported better-than-expected results for both the top and bottom lines. Revenues rose 4% to $13.5 billion while EPS improved 21% to $0.81 per share.
The second-quarter revenue growth was driven by the strong performance of key brands such as Xeljanz, Ibrance and Eliquis, and this momentum is expected to continue in the third quarter. New approvals for some products is also expected to help push the topline higher. The company’s cost reduction efforts are likely to reflect positively on the bottom line.
However, last quarter, Pfizer was hurt by loss of exclusivity for certain products, sales declines in legacy Established Products and legacy Hospira supply shortages. Stiff competition continues to put pressure on the sales and market share of some of Pfizer’s products and the impact from these competitive pressures is a point worth keeping an eye on in the third quarter report.
On October 1, Pfizer announced that COO Albert Bourla will succeed Ian Read as CEO at the beginning of 2019. Read will move on to the new role of Executive Chairman next year. Pfizer is likely to see new strategies and changes in the near future, which will be worth watching.
Pfizer’s shares have climbed 18% so far this year but looking at the past one month, the stock is down 2%. As of 11:40 am ET, the stock is down 1.5%.
On the heels of lawmakers moving closer to passing the stimulus bill, inflations concerns gripped the market after Federal Reserve chief Jerome Powell at a meeting said the reopening would
Though the retail boom triggered by the pandemic was estimated to be short-lived initially, the shopping spree continued as customers stocked up on essential items, concerned about the persistent market
Shares of Gap Inc. (NYSE: GPS) were up 5.8% in afternoon hours on Friday. The stock has gained 103% over the past 12 months. Gap reported mixed results for the