| Imagery Source: Wikimedia Commons / ajay_suresh |
| Information Source: Pfizer Inc |
- Focused Execution Delivers Strong EPS Performance
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- Landmark Agreement Reached with U.S. Government Provides Longer-Term Business Clarity
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- Secured Early FTC Clearance for Proposed Metsera Acquisition to Meaningfully Compete in Obesity
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| Pfizer Inc. (NYSE: PFE) reported financial results for the third quarter of 2025 and reaffirmed its 2025 Revenue guidance(1) while raising and narrowing guidance for adjusted (2) diluted EPS. |
| EXECUTIVE COMMENTARY |
| Dr Albert Bourla, Chairman and CEO of Pfizer: |
| “I am proud of Pfizer’s leadership as the first in our industry to reach an agreement with the U.S. Government, which we believe provides greater clarity for our business. Additionally, our recent strategic actions have strengthened opportunities to advance innovation that could address significant medical needs in high-growth markets, helping us deliver value for patients and shareholders.” |
| David Denton, CFO and EVP of Pfizer: |
| “Our third-quarter performance demonstrates our continued focus on execution and financial discipline. We raised and narrowed our full-year 2025 Adjusted diluted EPS guidance, underscoring confidence in our ability to deliver strong results for our shareholders.” |
| OVERALL RESULTS |
- Third-Quarter 2025 Revenues of $16.7 Billion, Representing a 7% Year-over-Year Operational Decline
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- Strengthened Commercial Execution Drives 4% Operational Revenue Growth of Non-COVID Portfolio.
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- Third-Quarter 2025 Reported(3) Diluted EPS of $0.62, and Adjusted(2) Diluted EPS of $0.87
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- Reaffirms Full-Year 2025 Revenue Guidance(1) in a Range of $61.0 to $64.0 Billion
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- Raises and narrows Full-Year 2025 Adjusted(2) Diluted EPS Guidance(1) to a Range of $3.00 to $3.15
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- On Track to Deliver Approximately $7.2 Billion in Overall Anticipated Net Cost Savings from Previously Announced Cost Improvement Initiatives(4) by End of 2027, Driving Productivity Gains and Operating Margin Expansion
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| Some amounts in this press release may not add up due to rounding. All percentages have been calculated using unrounded amounts. References to operational variances pertain to period-over-period changes that exclude the impact of foreign exchange rates(5). |
| 2025 FINANCIAL GUIDANCE(1) |
- Reaffirms full-year 2025 Revenue guidance of $61.0 to $64.0 billion.
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- Raises and narrows Adjusted(2) diluted EPS guidance(1) to a range of $3.00 to $3.15 from $2.90 to $3.10 previously.
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- The updated 2025 Adjusted(2) diluted EPS guidance takes into consideration our solid year-to-date performance, continued confidence in our business, progress with ongoing cost improvement initiatives, and improvement in our effective tax rate.
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- Includes a one-time $1.35 billion Acquired In-Process R&D charge related to the in-licensing agreement with 3SBio, Inc., recorded in the third quarter of 2025 with an unfavourable impact of approximately $0.20.
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- The company’s guidance absorbs the impact of the currently imposed tariffs from China, Canada, and Mexico.
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| CAPITAL ALLOCATION |
| During the first nine months of 2025, Pfizer deployed its capital in a variety of ways, which primarily included: |
- Reinvesting capital into initiatives intended to enhance the future growth prospects of the company, including:
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- $7.2 billion invested in internal research and development projects, and
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- Approximately $1.6 billion invested in business development transactions, primarily reflecting the 3SBio in-licensing deal.
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- Returning capital directly to shareholders through $7.3 billion of cash dividends, or $1.29 per share of common stock.
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| No share repurchases have been completed to date in 2025. As of November 4, 2025, Pfizer’s remaining share repurchase authorisation is $3.3 billion. Current financial guidance does not anticipate any share repurchases in 2025. The company expects to continue to de-lever prudently to maintain a balanced capital allocation strategy. This includes maintaining the flexibility to deploy capital towards potential value-creating business development transactions and the potential to return capital to shareholders through share repurchases. |
| Diluted weighted-average shares outstanding of 5,714 million and 5,705 million were used to calculate Reported(3) and Adjusted(2) diluted EPS for third-quarter 2025 and 2024, respectively. |
| For the full document, click the link below |
| Pfizer Inc |
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