Summary
Pfizer Inc. reported strong first-quarter 2019 results, with revenues increasing by 2% to $13.1 billion and income from continuing operations rising by 9% to $3.9 billion compared to the prior year. Diluted earnings per share (EPS) also saw a significant increase of 15% to $0.68. The company's performance was driven by robust operational growth across key biopharmaceutical products such as Eliquis, Ibrance, Prevnar 13, and Xeljanz, which contributed significantly to the Biopharma segment's revenue growth. The Upjohn segment experienced a slight revenue decline, largely due to ongoing generic competition for products like Viagra and Lyrica, though operational growth in emerging markets provided some offset. Pfizer also continued its share repurchase program, buying back approximately $8.9 billion in stock during the quarter. Looking ahead, Pfizer reaffirmed its 2019 financial guidance, expecting revenues between $52.0 billion and $54.0 billion and adjusted diluted EPS between $2.83 and $2.93, reflecting underlying business strength and a positive outlook despite anticipated headwinds from patent expirations and generic competition. The company also remains focused on strategic initiatives, including the proposed combination of its consumer healthcare business with GSK.
Financial Highlights
54 data points| Revenue | $13.12B |
| Cost of Revenue | $2.43B |
| Gross Profit | $10.69B |
| SG&A Expenses | $3.34B |
| Operating Income | $3.88B |
| Interest Expense | $361.00M |
| Net Income | $3.88B |
| EPS (Basic) | $0.69 |
| EPS (Diluted) | $0.68 |
| Shares Outstanding (Basic) | 5.63B |
| Shares Outstanding (Diluted) | 5.75B |
Key Highlights
- 1Total revenues increased 2% to $13.1 billion, driven by operational growth and offset by foreign exchange impacts.
- 2Income from continuing operations increased 9% to $3.9 billion.
- 3Diluted EPS grew 15% to $0.68, showing improved profitability.
- 4Key biopharmaceutical products like Eliquis, Ibrance, Prevnar 13, and Xeljanz showed strong growth.
- 5Pfizer repurchased approximately $8.9 billion of its common stock during the quarter, demonstrating a commitment to returning capital to shareholders.
- 6The company reaffirmed its full-year 2019 financial guidance, signaling confidence in its outlook.
- 7The Consumer Healthcare business is on track for a joint venture with GSK, expected to close in the second half of 2019.