Global pharmaceutical company Pfizer (NYSE: PFE) will be announcing earnings results this Tuesday before market open. Here’s what you need to know.
Pfizer beat analysts’ revenue expectations by 7.9% last quarter, reporting revenues of $14.65 billion, up 10.3% year on year. It was a very strong quarter for the company, with an impressive beat of analysts’ organic revenue estimates and a beat of analysts’ EPS estimates.
Is Pfizer a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting Pfizer’s revenue to decline 6.2% year on year to $16.61 billion, a reversal from the 31.2% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.64 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Pfizer has missed Wall Street’s revenue estimates twice over the last two years.
Looking at Pfizer’s peers in the branded pharmaceuticals segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Eli Lilly delivered year-on-year revenue growth of 53.9%, beating analysts’ expectations by 9.6%, and Bristol-Myers Squibb reported revenues up 2.9%, topping estimates by 3.7%. Eli Lilly traded up 6% following the results while Bristol-Myers Squibb was also up 8.1%.
Read our full analysis of Eli Lilly’s results here and Bristol-Myers Squibb’s results here.
Investors in the branded pharmaceuticals segment have had steady hands going into earnings, with share prices flat over the last month. Pfizer is down 6.7% during the same time and is heading into earnings with an average analyst price target of $28.75 (compared to the current share price of $24.67).
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