Pfizer (PFE) earnings Q1 2026

Pfizer On Tuesday, it reported first-quarter earnings and revenue that beat estimates and reaffirmed its 2026 outlook as recent product launches and acquisitions show growth.

Older best-selling drugs, including blood thinner Eliquis, also helped boost demand in the quarter, offsetting a decline in revenue from Pfizer’s Covid vaccine and antiviral pill used to treat the Paxlovid virus.

Here’s what the company reported for the first quarter compared to Wall Street’s expectations, based on a survey of LSEG analysts:

• Earnings per share: 75 cents adjusted, 72 cents expected
• Revenues: 14.45 billion dollars, while the expectation was 13.79 billion dollars

The pharmaceutical giant is seeking longer-term investments in its pipeline, including its recent $10 billion acquisition of obesity biotech Metsera, to counter declining Covid product sales and declines from older drugs. Pfizer is focused on releasing a lot of important data this year, including late-stage trial results. experimental targeted drug in lung cancer.

Pfizer reported first-quarter revenue of $14.45 billion, up 5% from the same period last year. Sales gains in core products helped overcome challenges in the company’s Covid business.

The company had net income of $2.69 billion, or 47 cents per share. This compares with net income of $2.97 billion, or 52 cents per share, in the same period a year ago.

Excluding certain items, including restructuring charges and costs related to intangible assets, the company reported earnings of 75 cents per share for the quarter.

Pfizer reaffirmed its 2026 outlook, expecting adjusted profit for 2026 to be between $2.80 and $3 per share and revenue to total between $59.5 billion and $62.5 billion. This sales range would be roughly flat or slightly lower compared to revenues of $62.6 billion in 2025.

Pfizer previously said its weak revenue outlook was due in part to: Sales of the Covid vaccine and Paxlovid are expected to drop by approximately $1.5 billion year-on-year to $5 billion.

The company also noted an expected decline in sales of approximately $1.5 billion annually due to some products losing market exclusivity. Some blockbuster drugs, such as the company’s pneumonia vaccine Prevnar, are facing more competition from rivals.

The results come a week after Pfizer reached settlement agreements with three generic drugmakers that effectively extended the company’s U.S. patent protection for Vyndamax until June 1, 2031. This is a prescription medication that helps treat a rare, serious heart condition.

Sales of Pfizer’s Covid vaccine and Paxlovid were well below analysts’ forecasts, according to StreetAccount.

While the vaccine generated $232 million in revenue in the quarter, a 59% decrease compared to the same period of the previous year, Paxlovid sales decreased by 62% to $186 million. Analysts expected sales of $445.9 million and $286.2 million for the two products, respectively.

Meanwhile, Eliquis had sales of $2.17 billion in the quarter, up 13% from the previous period. Analysts were expecting revenue of $1.96 billion, according to StreetAccount estimates.

Other older drugs and some new products also beat estimates for the quarter.

Targeted cancer drug Padcev generated $591 million in revenue, up 39% from the same period a year ago and beating the $542.3 million analysts expected.

A more recently launched product from Pfizer, its vaccine against respiratory syncytial virus, generated sales of $180 million in the first quarter. This was above the $145.1 million analysts expected, up 37% from the same period a year ago.

Pfizer said sales of recently launched and acquired products increased operationally by 22% in the quarter.