Summary
Pfizer Inc. reported total revenues of $13.7 billion for the first quarter ended March 30, 2025, a decrease of 8% compared to $14.9 billion in the prior year period. This decline was primarily attributed to a significant drop in Paxlovid sales, which were impacted by lower COVID-19 infections and reduced government purchases, as well as the non-recurrence of a favorable revenue adjustment recognized in the prior year. Despite the overall revenue decrease, operational improvements and growth in key therapeutic areas like the Vyndaqel family, Padcev, and Lorbrena provided some offset. Net income attributable to Pfizer Inc. common shareholders was $2.97 billion, or $0.52 per diluted share, compared to $3.12 billion, or $0.55 per diluted share, in the first quarter of 2024. The decrease in profitability was influenced by lower revenues, increased restructuring charges, and higher intangible asset impairment charges. However, the company is actively managing its cost base through ongoing productivity initiatives and cost realignment programs, which are expected to yield significant savings. Pfizer also completed the sale of its remaining investment in Haleon, generating $6.3 billion in proceeds to support its capital allocation priorities.
Financial Highlights
52 data points| Revenue | $13.71B |
| Cost of Revenue | $2.85B |
| Gross Profit | $10.87B |
| SG&A Expenses | $3.03B |
| Interest Expense | $654.00M |
| Net Income | $2.97B |
| EPS (Basic) | $0.52 |
| EPS (Diluted) | $0.52 |
| Shares Outstanding (Basic) | 5.67B |
| Shares Outstanding (Diluted) | 5.71B |
Key Highlights
- 1Total revenues decreased by 8% to $13.7 billion in Q1 2025, primarily due to a substantial decline in Paxlovid sales.
- 2Net income attributable to Pfizer Inc. common shareholders was $2.97 billion, down from $3.12 billion in Q1 2024.
- 3Diluted EPS was $0.52, a decrease from $0.55 in the prior year quarter.
- 4The company incurred $678 million in restructuring charges and acquisition-related costs in Q1 2025, a significant increase from $102 million in Q1 2024.
- 5Pfizer sold its remaining investment in Haleon for $6.3 billion during the quarter.
- 6Key growth drivers included the Vyndaqel family (up 33% operationally), Padcev (up 25% operationally), and Lorbrena (up 39% operationally).
- 7The company continues to implement cost realignment and manufacturing optimization programs, aiming for substantial cost savings.