PFE · Healthcare

PFIZER INC

Ranked earnings events from SEC filings, earnings calls, press releases and news. Full Picture: what to focus on this earnings window

News · 2026-08-08

• Litigation and Legal RiskImportance 28 · Surprise 42
  Pfizer agreed to pay $44 million to settle a class-action lawsuit concerning Chantix and alleged undisclosed nitrosamine contamination. The settlement covers U.S. individuals and third-party payors who purchased…

News · 2026-08-07

• AI Adoption RecognitionImportance 31 · Surprise 42
  Pfizer is positioning artificial intelligence as a technology for drug discovery, clinical development and manufacturing. CEO Albert Bourla described plans to structure 177 years of company data and federate AI across…
• DividendsImportance 13 · Surprise 6
  Pfizer declared a quarterly dividend of $0.43 per share following its second-quarter 2026 results. The dividend was reported alongside the company's raised 2026 revenue outlook and reaffirmed adjusted EPS guidance. The…

News · 2026-08-06

• Acquisition / Partnership / DivestitureImportance 34 · Surprise 42
  Pfizer's reaffirmed 2026 adjusted diluted EPS guidance absorbs an approximately $0.10 impact from its Innovent Biologics, Inc. transaction. The quarter's growth was attributed partly to new and acquired products,…
• Revenue Performance and MixImportance 31 · Surprise 32
  Pfizer reported second-quarter 2026 revenue of $15.03 billion, up 3% year over year and above the $14.40 billion FactSet estimate. Non-COVID products increased 5% operationally, while total revenue increased 1%…

News · 2026-08-05

• Net Income and ProfitabilityImportance 65 · Surprise 82
  Pfizer recorded a second-quarter 2026 net loss of $248 million, or $0.04 per share, compared with net income of $2.91 billion, or $0.59 per share, in the year-ago quarter. Adjusted diluted EPS was $0.77, exceeding the…
• Guidance and OutlookImportance 56 · Surprise 68
  Pfizer raised the midpoint of its full-year 2026 revenue guidance by $500 million and now expects revenue of $60.5 billion to $62.5 billion. Management reaffirmed adjusted diluted EPS guidance of $2.80 to $3.00,…
• Headcount and RestructuringImportance 52 · Surprise 42
  Pfizer announced anticipated productivity savings of $2.5 billion during 2027 through 2029. Management described deeper cost cuts as a contributor to the raised 2026 revenue outlook and offset to weaker COVID-19…
• Revenue Performance and MixImportance 31 · Surprise 32
  Pfizer reported second-quarter 2026 revenue of $15.03 billion, up 3% year over year and above the $14.40 billion FactSet estimate. Non-COVID products increased 5% operationally, while total revenue increased 1%…
• Market Demand TrendsImportance 31 · Surprise 32
  Pfizer’s second-quarter performance reflected strong demand for Eliquis, its blood thinner, while declining demand for COVID-19 products continued to pressure the portfolio. Revenue excluding COVID-19 products…
• Product Launch and TransitionImportance 31 · Surprise 42
  Pfizer is developing berobenatide as an investigational obesity treatment in the rapidly expanding anti-obesity market. Early data suggests the drug could compete with Eli Lilly’s Zepbound and Novo Nordisk’s Wegovy,…
• Licensing / Collaboration DealsImportance 31 · Surprise 42
  Arvinas reported that collaboration and licensing revenues related to VEPPANU (vepdegestrant) were driven by deals with Pfizer and Rigel Pharmaceuticals. The transactions contributed to Arvinas’ Q2 2026 revenue of…

10-Q · 2026-08-04

• Impairment ChargesImportance 90 · Surprise 100
  Pfizer recognized $4.325 billion of certain asset impairments in second-quarter and first-half 2026 results. The impairment charge reduced GAAP net income attributable to Pfizer common shareholders by $4.325 billion…
• Litigation and Legal RiskImportance 83 · Surprise 82
  Pfizer recorded $867 million of legal charges in second-quarter 2026 adjustments, primarily for product liability and other legal expenses. Legal charges totaled approximately $1.0 billion for the first six months of…
• Income Tax Rate ChangesImportance 71 · Surprise 82
  The second-quarter 2026 tax benefit was $407 million, compared with a tax provision in the second quarter of 2025, and the effective tax rate increased to 62.4% from 4.6%. For the first six months, the effective tax…
• Trade Policy and TariffsImportance 69 · Surprise 100
  On April 2, 2026, the U.S. Government announced Section 232 tariffs of up to 100% on imported patented pharmaceuticals and ingredients, with exemptions tied to U.S. manufacturing commitments. The measures became…
• Operating Cash Flow TrendsImportance 69 · Surprise 64
  Operating cash flow increased to $3.450 billion in the first six months of 2026 from $1.753 billion in the first six months of 2025. The $1.697 billion improvement was driven mainly by the timing of ordinary-course…
• Headcount / RestructuringImportance 64 · Surprise 42
  Pfizer announced an additional $1.0 billion of anticipated net savings from its Realigning Our Cost Base Program, bringing expected total savings to approximately $6.7 billion through 2029. The company expects…
• Manufacturing Footprint OptimizationImportance 64 · Surprise 42
  Pfizer announced a new phase of its Manufacturing Optimization Program focused on network structure changes, product portfolio enhancements and operational efficiencies. The phase is expected to provide approximately…
• Acquisition / Partnership / DivestitureImportance 59 · Surprise 60
  In May 2026, Pfizer entered a global licensing and collaboration agreement with Innovent, a Chinese biopharmaceutical company, covering research and development of 12 early-stage and de novo cancer medicines. Innovent…
• Liquidity and Debt PositionImportance 59 · Surprise 48
  Pfizer reported financing cash outflows of $6.519 billion in the first six months of 2026, compared with $8.423 billion in the 2025 period. Net repayments of short-term borrowings decreased by $3.0 billion, while…
• Patent Exclusivity ExpiriesImportance 58 · Surprise 42
  Pfizer expects a significant reduction in revenue from patent-based or regulatory exclusivity expiries as several in-line products lose exclusivity between 2026 and 2030. Management expects the rate of revenue…
• Revenue Performance and MixImportance 48 · Surprise 32
  First-six-month 2026 revenue increased 4% to $29.5 billion, with operational growth of 2%; excluding Comirnaty and Paxlovid, revenue increased 6% operationally. Growth was led by Eliquis, Padcev, the Vyndaqel family,…
• OECD Global Minimum TaxImportance 47 · Surprise 60
  Many countries outside the U.S. have enacted global minimum-tax legislation under the OECD Base Erosion and Profit Shifting Pillar 2 project. The provisions generally apply to Pfizer from 2024, but significant…
• U.S. Tax Law ChangesImportance 47 · Surprise 60
  The U.S. One Big Beautiful Bill Act was enacted on July 4, 2025 and includes permanent expensing for domestic R&D, permanent bonus depreciation and full expensing of qualified production property. It also reduces the…
• Oxbryta Regulatory WithdrawalImportance 47 · Surprise 60
  After the FDA determined there was no viable pathway to return Oxbryta to the U.S. market, Pfizer voluntarily withdrew the product’s U.S. New Drug Applications on July 31, 2026. The EMA had previously concluded its…
• Guidance / OutlookImportance 47 · Surprise 42
  Pfizer expects leverage to remain around current levels, or modestly higher, through the next several years because of anticipated unfavorable effects from patent-based and regulatory exclusivity expiries. Management…
• Competition and Market ShareImportance 46 · Surprise 56
  Prevnar family revenue declined 2% operationally year to date to $3.0 billion, primarily because of lower U.S. pediatric and adult vaccination rates and adult-indication market-share erosion, partly offset by increased…
• Geographic Revenue ShiftImportance 43 · Surprise 32
  First-six-month 2026 revenue was $17.6 billion in the U.S. and $11.9 billion internationally, compared with $17.3 billion and $11.1 billion, respectively, in the prior-year period. Eliquis growth was driven by higher…
• Manufacturing and CapacityImportance 39 · Surprise 50
  Pfizer CentreOne second-quarter 2026 revenue increased 5% operationally, driven by higher manufacturing of third-party products under manufacturing and supply agreements and higher active pharmaceutical ingredient…
• Product / Drug Pipeline ProgressImportance 38 · Surprise 60
  Pfizer reported 2026 approvals for Veppanu in ER-positive/HER2-negative, ESR1-mutated advanced or metastatic breast cancer in the U.S.; Hympavzi for expanded hemophilia populations in the U.S. and EU; Braftovi for…
• Regulatory RiskImportance 37 · Surprise 42
  Pfizer continues to monitor U.S. implementation of the Inflation Reduction Act, including the Medicare Drug Price Negotiation Program and government-set Maximum Fair Prices. The MFP for Eliquis became effective January…
• Operating Expense TrendsImportance 29 · Surprise 22
  Second-quarter R&D expense increased $327 million to $2.8 billion, and six-month R&D expense increased $614 million to $5.3 billion. Oncology and obesity candidates accounted for $240 million of the quarterly increase…
• Gross Margin DriversImportance 24 · Surprise 14
  Second-quarter cost of sales increased $314 million to $4.1 billion, raising cost of sales to 27.2% of revenue from 25.8%. The increase reflected a $130 million unfavorable sales-mix effect, $90 million of higher…
• Capital Return ProgramImportance 19 · Surprise 6
  Pfizer’s board declared a $0.43-per-share dividend in April 2026, paid on June 12, 2026. The board declared another $0.43-per-share dividend in June 2026, payable September 1, 2026. Pfizer had $3.3 billion remaining…
• Supply Chain ConstraintsImportance 7 · Surprise 6
  Pfizer reported no significant supply-chain disruption during the first six months of 2026 through the filing date. Its global manufacturing sites continued to operate at or near normal levels. The company does not…

8-K · 2026-08-04

• Litigation and Legal RiskImportance 83 · Surprise 82
  Pfizer recorded $842 million of certain legal matters, net, in the second quarter of 2026, compared with $422 million in the prior-year quarter. For the first six months of 2026, such legal matters totaled $1.033…
• Alliance Revenue GrowthImportance 69 · Surprise 40
  Second-quarter alliance revenue increased 19% to $2.697 billion, including $2.174 billion from the United States and $523 million internationally. Six-month alliance revenue rose 15% to $5.036 billion, with U.S.…
• Oncology Portfolio GrowthImportance 69 · Surprise 64
  Worldwide Oncology revenue increased 3% to $4.165 billion in the second quarter and 6% to $7.991 billion for the first six months. Growth was led by Padcev, up 23% worldwide to $667 million in the quarter, Lorbrena, up…
• Hospital Biosimilars DemandImportance 69 · Surprise 64
  Hospital and Biosimilars revenue was broadly stable worldwide at $1.640 billion in the second quarter, with U.S. growth of 7% offset by a 7% international decline. Oncology biosimilars revenue increased 2% worldwide…
• Specialty Care GrowthImportance 64 · Surprise 56
  Specialty Care revenue rose 9% worldwide to $3.353 billion in the second quarter and 10% to $6.292 billion for the first six months. Vyndaqel family revenue increased 9% worldwide and 12% internationally in the…
• Acquisition / Partnership / DivestitureImportance 59 · Surprise 60
  Pfizer completed a strategic global licensing and collaboration agreement with Innovent Biologics on July 10, 2026, covering 12 early-stage and de novo cancer medicines. Innovent received a $650 million upfront payment…
• Restructuring ChargesImportance 59 · Surprise 82
  Second-quarter 2026 restructuring charges, implementation costs and additional depreciation related to asset restructuring totaled $91 million, compared with $29 million in the second quarter of 2025. Six-month 2026…
• COVID Product Demand DeclineImportance 57 · Surprise 64
  COVID-19 product demand weakened materially during the quarter. Paxlovid revenue declined 95% operationally globally, driven by lower COVID-19 infections across U.S. and international markets and lower government…
• Guidance and OutlookImportance 56 · Surprise 68
  Pfizer raised its full-year 2026 revenue guidance midpoint by $500 million, to a range of $60.5 billion to $62.5 billion. The revision reflects approximately $1.5 billion of better-than-expected non-COVID product…
• Legal Matters and ViiV SaleImportance 55 · Surprise 60
  Pfizer recorded a $1.870 billion net gain in the second quarter and first six months from selling its previous investment in ViiV. The gain was partially offset by $867 million of second-quarter charges and $1.0…
• Headcount / RestructuringImportance 52 · Surprise 42
  Pfizer announced approximately $1.0 billion of additional anticipated net savings from its ongoing Realigning Our Cost Base Program, expected to be realized from 2027 through 2029 through technology and simplification…
• Contract Manufacturing OperationsImportance 46 · Surprise 56
  Pfizer CentreOne revenue increased 7% worldwide to $373 million in the second quarter and 7% to $662 million for the first six months. International Pfizer CentreOne revenue grew 24% in the quarter and 14% for the…
• Income Tax Rate ChangesImportance 45 · Surprise 64
  Pfizer’s reported effective tax rate on continuing operations increased to 62.4% in the second quarter of 2026 from 4.6% in the prior-year quarter. The second-quarter rate reflected a tax benefit on the pretax loss…
• Geographic Revenue ShiftImportance 43 · Surprise 32
  Second-quarter U.S. revenue declined less than 1% to $8.857 billion, while international revenue increased 7% to $6.177 billion. Biopharma international revenue rose 7% to $5.871 billion, compared with essentially flat…
• Product Demand TrendsImportance 42 · Surprise 40
  Pfizer’s launched and acquired products grew 18% operationally year over year in the second quarter of 2026. Excluding Comirnaty and Paxlovid, company revenue increased 5% operationally. Eliquis revenue rose 19%…
• Operating Expense TrendsImportance 41 · Surprise 22
  Reported second-quarter SI&A expense was $3.411 billion, essentially unchanged year over year, while operational SI&A expense decreased 1%. The SI&A decrease reflected lower spending in corporate enabling functions,…
• Revenue Performance and MixImportance 37 · Surprise 32
  Second-quarter 2026 revenue increased 3% year over year to $15.034 billion, including 1% operational growth and a $217 million favorable foreign-exchange impact. Biopharma revenue rose 2% reported and 1% operationally…
• Capital Return ProgramImportance 37 · Surprise 6
  Pfizer paid $4.9 billion of cash dividends during the first six months of 2026, equal to $0.86 per common share. The company invested $5.3 billion in internal R&D projects and approximately $170 million in business…
• Product / Drug Pipeline ProgressImportance 31 · Surprise 42
  Pfizer reported positive Phase 2b results for berobenatide, an investigational monthly GLP-1 receptor agonist peptide, showing competitive weight loss, favorable tolerability and low gastrointestinal adverse events in…
• Comirnaty Regulatory ApprovalImportance 31 · Surprise 42
  The European Commission granted Pfizer and BioNTech marketing authorization in July 2026 for their 2026-2027 XFG-variant COVID-19 vaccine for individuals aged six months and older. In June 2026, the U.S. Food and Drug…
• Commercial Portfolio ReorganizationImportance 31 · Surprise 42
  Pfizer changed its Biopharma commercial structure in the first quarter of 2026. Certain off-patent branded and generic sterile injectables and biosimilars were moved primarily from Specialty Care and Oncology into a…
• Gross Margin DriversImportance 30 · Surprise 14
  Reported second-quarter cost of sales increased 8% to $4.092 billion, while cost of sales as a percentage of revenue rose 1.4 percentage points to 27.2% from 25.8%. Adjusted cost of sales increased 4% to $3.656…
• Competition and Market ShareImportance 17 · Surprise 24
  Eliquis continued to benefit from higher U.S. net pricing, but generic entry and price erosion reduced performance in certain international markets. Vyndaqel’s U.S. growth was partly offset by net price erosion…
• Geographic Market CommentaryImportance 10 · Surprise 6
  Eliquis delivered global growth, with higher U.S. net price and demand partly offset by generic entry and price erosion in some international markets. Vyndaqel’s international performance benefited from strong demand,…