Pfizer Stock Earnings Reports

Pfizer reported a strong start to 2026, with Q1 revenues of $14.5 billion (2% operational growth) and adjusted EPS of $0.75, both above expectations. Excluding COVID, underlying business grew about 7% operationally. Launched and acquired products grew ~22% and contributed $3.1 billion in Q1. R&D progress included three positive Phase III readouts and multiple encouraging mid-stage results; Pfizer is targeting ~20 pivotal study starts, eight key data readouts and four regulatory decisions in 2026, with roughly half of key readouts from oncology. Notable clinical highlights: Padcev + pembrolizumab showed ~50% reduction in recurrence/death risk in muscle-invasive bladder cancer; Elrexfio (MagnetisMM-5) improved PFS in relapsed/refractory multiple myeloma; positive Phase II atirmociclib data in HR+/HER2- breast cancer; initiation of a 25-valent pediatric pneumococcal Phase III program and advancement of a 35-serotype fifth-generation adult pneumococcal vaccine into development; and positive Phase II tilrekimig data in atopic dermatitis. Pfizer also emphasized AI integration across the company and strategic focus on oncology, metabolic disease (including obesity via the Metsera acquisition), and vaccines. Two legal developments — a settlement extending Vyndamax exclusivity impact and a favorable Belgian court ruling on Comirnaty contracts — improve post-2028 cash flow visibility. Management reaffirmed full-year 2026 guidance: revenues $59.5–$62.5 billion and adjusted EPS $2.80–$3.00. Adjusted gross margin ~mid-70s; manufacturing optimization and cost-savings programs remain on track (Phase I savings ~$700M this year; $7.2B total net cost savings targeted by end of 2026). Capital allocation priorities: reinvestment in R&D, maintain and grow dividend over time, and preserve BD capacity (~$7 billion including proceeds from ViiV sale); leverage ended Q1 ~2.8x. Management signaled focus on executing pipeline and commercial initiatives to achieve a projected high single-digit 5-year revenue CAGR starting in 2029.