Categories AlphaGraphs, Earnings, Health Care

Pfizer Q1 profit tops expectations; raises FY19 earnings outlook

Pharma giant Pfizer (NYSE: PFE) Tuesday reported stronger than expected earnings and revenues for the first quarter of 2019. The company also revised up its earnings guidance for fiscal 2019 to reflect one-time gains recorded during the quarter.

Earnings, on an adjusted basis, moved up 13% year-on-year to $0.85 per share, beating estimates by a wide margin. Unadjusted profit was $3.88 billion or $0.68 per share, higher than $3.56 billion or $0.59 per share recorded in the first quarter of 2018.Pfizer Q1 2019 earnings infographic

The positive bottom-line performance reflects a 2% growth in revenues to $13.12 billion, which also surpassed Wall Street’s prediction. The top-line benefitted from a 7% operational growth in Pfizer Biopharmaceuticals Group – mainly on the strength of the leading brands including Eliquis, Ibrance and Prevnar – and a 1% operational growth in Upjohn, with some brands witnessing solid demand in China.

Meanwhile, Consumer Healthcare revenue declined 2% operationally as a 4% growth in international markets was more than offset by an 8% decline in the US.

The top-line benefitted from higher sales at the Pfizer Biopharmaceuticals Group and solid demand for the Upjohn brands in China

“Our new commercial structure is designed to maximize today’s revenue growth opportunities while transitioning the company to a period post-2020 where we expect sustained mid-single-digit operational revenue growth through 2025,” said Pfizer CEO Albert Bourla.

In the first quarter, the company returned $10.9 billion to shareholders – $2 billion of dividends and $8.9 billion by way of repurchasing shares.

During the three-month period, the FDA accepted for priority-review a supplemental Biologics License Application filed by Merck KGaA and Pfizer for Bavencio, a formulation being tested for the treatment of advanced kidney cancer.

Meanwhile, the management raised the midpoint of its full-year 2019 earnings guidance range to $2.83-$2.93 per share. The previous estimate was $2.82-$2.92 per share. The outlook was revised to factor in the effect adjusted Other Income recorded in the first quarter, which was partially offset by unfavorable foreign exchange rates.

Ely Lilly (LLY) Tuesday reported a 3% increase in first-quarter revenues to about $5 billion, supported by broad-based sales growth. Consequently, earnings moved up 2% to $1.33 per share. Earlier this month, Johnson & Johnson (JNJ) reported a 2% year-on-year increase in adjusted earnings for its first quarter when revenues remained broadly unchanged at $20 billion.

Pfizer shares rose 1% early Tuesday following the earnings report, after closing the previous session lower. The stock has lost 8.5% since the beginning of 2019.

Most Popular

PayPal Holdings (PYPL) Q1 2021 revenue up 31%; earnings beat

PayPal Holdings Inc. (NASDAQ: PYPL) reported stronger-than-expected earnings and revenues for the first quarter of 2021. Shares of the payment service provider gained during Wednesday’s extended trading session soon after

Infographic: How Twilio (TWLO) performed in Q1 2021

Twilio (NYSE: TWLO) reported first quarter 2021 earnings results today. Revenue increased 62% year-over-year to $590 million. GAAP net loss widened to $206 million, or $1.24 per share, compared to

Uber Technologies reports Q1 loss of 6 cents per share: Infographic

Uber Technologies (NYSE: UBER) reported first-quarter 2021 financial results after the regular market hours on Wednesday. The ride-hailing company reported Q1 revenue excluding the UK accrual of $3.5 billion, up

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top