Summary
Pfizer Inc.'s first quarter 2021 results, ending April 4, 2021, demonstrate significant year-over-year revenue growth, largely driven by the BNT162b2 (Pfizer-BioNTech COVID-19 Vaccine). Total revenues surged by 45% to $14.6 billion, with the COVID-19 vaccine alone contributing $3.5 billion. Excluding the vaccine, operational revenue growth was a solid 8%, supported by strong performance in key products like Eliquis, Vyndaqel/Vyndamax, and Xeljanz, though partially offset by declines in Prevnar 13 and Ibrance. Net income attributable to Pfizer Inc. common shareholders also saw a substantial increase, reaching $4.9 billion, or $0.86 per diluted share, compared to $3.4 billion, or $0.60 per diluted share, in the prior year's first quarter. This growth reflects the strong revenue performance and improved equity security gains, despite higher operating expenses related to increased R&D for COVID-19 treatments and higher cost of sales associated with the vaccine. The company maintains a strong liquidity position, with substantial cash and short-term investments.
Financial Highlights
55 data points| Revenue | $14.52B |
| Cost of Revenue | $4.16B |
| Gross Profit | $10.36B |
| SG&A Expenses | $2.78B |
| Operating Income | $4.87B |
| Interest Expense | $336.00M |
| Net Income | $4.88B |
| EPS (Basic) | $0.87 |
| EPS (Diluted) | $0.86 |
| Shares Outstanding (Basic) | 5.58B |
| Shares Outstanding (Diluted) | 5.66B |
Key Highlights
- 1Total revenues increased by 45% to $14.6 billion, driven significantly by the BNT162b2 (Pfizer-BioNTech COVID-19 Vaccine) which generated $3.5 billion in revenue.
- 2Excluding the COVID-19 vaccine, Pfizer's operational revenue growth was 8%, supported by strong performance in key products such as Eliquis, Vyndaqel/Vyndamax, Xeljanz, and Inlyta.
- 3Net income attributable to Pfizer Inc. common shareholders increased to $4.9 billion from $3.4 billion in the prior year's quarter.
- 4Diluted EPS rose to $0.86 from $0.60 in the comparable prior-year period.
- 5The company reported significant increases in Cost of Sales ($4.2 billion from $1.9 billion) and R&D expenses ($2.0 billion from $1.7 billion), largely due to the COVID-19 vaccine and related research.
- 6Pfizer maintains a strong financial position with cash and cash equivalents of $1.8 billion and short-term investments of $11.9 billion.
- 7The company continues to advance its pipeline, with several key product approvals and filings noted, including progress on its COVID-19 therapeutic oral antiviral.