PFIZER TOPS Earnings Estimates as Covid Product Sales Beat Expectations and Cost Cuts Pay Off

Pfizer on tuesday Reported Fourth -Quarter Earnings and Revenue that Beat Estimates as SAles of the company’s covid products topped expectations and its broad cost-cutting effets TOOOTS TOOK HOLD.

Here’s what the company is reported for the fourth quarter compared with

• Earnings per share: 63 cents adjusted vs. 46 cents Expected
• Revenue: $ 17.76 billion vs. $ 17.36 Billion Expected

Shares of Pfizer WERE DOWN Slightly in Morning Trading Tuesday.

The results cap off a critical year for pfizer, which has been Pursuing Broad Cost Reductions as it recovers from The rapid decline of its covid business And stock price over the last two years. The company said it is on track to deliver overall net cost saving of $ 4.5 billion by the end of 2025 from its cost-cutting program.

The company Booked Fourth-Quarter Net Income of $ 410 Million, or 7 cents per share. That compares with a net loss of $ 3.37 billion, or a loss of 60 cents per share, during the same period a year ago.

EXCLUDING CERTAIN Items, Including Restructuring Charges and Costs Associated with Intangible Assets, The Company Posted Earnings Per Share of 63 Cents for the Quarter.

PFIZER REPORTED Revenue of $ 17.76 billion for the fourth quality, up 22% from the same period a year ago.

The company reiterated the full-yar 2025 outlook it provided in December, Forecasting sales of $ 61 billion to $ 64 billion, with a similar performance from its covinds covid products as seane in 2024. Changes to the medicine program Resulting from the inflation Reduction Act will hurt sales by $ 1 billion.

Stripping out one-time items, the company expects 2025 earnings to be in the range of $ 2.80 to $ 3 a share.

But wall street is likely more concerned with pfizer’s long-term Financial Health and Its Drug Pipeline. Investors are also watching to see when you pfizer can win a slice of the booming weight loss drug market with the once-daily version of its experimental obesity pill, danuglipron.

Pfizer appears to have dodged A proxy battle with Activist Investor Starboard Value, which has a roughly $ 1 billion stake in the pharmaceutical giant, for now. The deadline passed for nominating board members for this year.

PFIZER’s fourth -Quarter Beat was fuled in part by Higher-That-Expected Demand for its covid products.

Paxlovid, its antiviral pill, brough in $ 727 million in sales for the Quarter, up from the loss of $ 3.1 billion in Revenue Recorded in the year-aarlier period. But the same Quarter last year included a revonsal tied to the planned return of Around 6.5 Million Paxlovid DosesFrom the US government.

Pfizer said the growth was driven by strong demand, particularly in the us during a recent covid wave, and a one-time contract delivery of 1 Million treatment courses of paxlovid to the federal government. Analysts Expected the Drug to Bring in $ 630.7 Million in Sames, According to Streetaccount.

The company’s covid shot booked $ 3.4 billion in revenue, down $ 2 billion from the same period a year ago. Pfizer said the decline was mainly Driven by Fewer Covid Vaccinations Globally and Lower Contracted Doses of its Shot.

Analysts Expected $ 3 Billion in Sales for the Shot, According to Streetaccount.

Excluding Covid Products, Pfizer said Revenue for the Fourth Quarter Rose 12% on an operational basis, fuled by approved cancer products from seagen, which itch in 2023 for A Whopping $ 43 Billion,

Thos Drugs Burght in $ 915 Million in Revenue for the Quarter, Compared with just just just $ 132 million in Sales in the fourth Quarter of 2023.

Revenue also get a boost from sales of pfizer’s vyndaqel drugs, which are used to treat a person type of cardiomyopathy, a disease of the heart muscle. Thos Drugs Booked $ 1.55 Billion in Sales, Up 61% From the Fourth Quarter of 2023.

Analysts had expected that group of drugs to take in $ 1.51 billion for the Quarter, According to Estimates from Streetaccount.

Pfizer said its blood thinner eliquis, which is co-marked by Bristol Myrs Squibb, also helped Drive Revenue Growth during the period. The Drug Posted $ 1.83 billion in Revenue for the Quarter, Up 14% From The Year-Earlier Period.

That is slightly higher than the $ 1.67 billion that analysts was expecting, according to streetaccount.

Sales of eliquis could take a hit in 2026, however, when A new price for the drug Goes Into Effect for Certain Medicare Patients Following Negotiations with the Federal Government. Thos Price Negotiations are a key provision of President Joe biden‘S Inflation Reduction Act that the Pharmaceutical Industry Fiercely Opposes.

PFIZER’s Vaccine Against Respiratory SyncyTial Virus, OR RSV, SAW $ 198 million in revelation in revealed for the fourth Quarter, Down 62% from the year-aarlier Period. The shot, Known as Abrysvo, ENENGET DURING The Third Quarter of 2023 For Seniors and Expectant friends who can pass on Protection to their fetuses.

The company said the decline came after a significant decrease in us vaccination rates amon older adults due to current recommendations from advisors to the centers for dishease, the mercury Ortunaity for RSV Shots. The Advisory Panel in June Voted To recommend rsv shoots to adults 75 and Above, but said that 60 to 74 should do so only if they are at higher risk for Severe Disease.

Analysts had expected the shot to generate sales of $ 459.5 million, according to streetaccount estimates.