Pfizer Boost FY24 Adj. EPS Outlook - Update

(RTTNews) - While reporting financial results for the first quarter, drug major Pfizer Inc. (PFE) raised its adjusted earnings guidance for the full-year 2024, while maintaining annual revenue outlook.

For fiscal 2024, the company now projects adjusted earnings in a range of $2.15 to $2.35 per share, up from the prior guidance range of $2.05 and $2.25 per share.

However, the company continues to project revenues between $58.5 billion and $61.5 billion, with revenues of about $5 billion for Comirnaty, about $3 billion for Paxlovid and about $3.1 billion from legacy Seagen.

On average, 23 analysts polled by Thomson Reuters expect the company to report earnings of $2.21 per share on revenues of $60.02 billion for the year. Analysts' estimates typically exclude special items.

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