PFE · 8-K · 20261103PR000125
Guidance / Outlook
PFIZER INC · 2026-11-03 · Importance 68 · Surprise 68 · From source text
Pfizer raised its full-year 2026 revenue guidance by $1.5 billion at the midpoint to $62.0–$64.0 billion, from $60.5–$62.5 billion. Adjusted diluted EPS guidance was raised and narrowed to $2.95–$3.05 from $2.80–$3.00, and includes an approximately $650 million Innovent-related in-process R&D charge with an approximately $0.10 unfavorable EPS impact. The outlook includes an anticipated unfavorable revenue impact of approximately $1.1 billion from recent and expected generic and biosimilar competition for products that have lost or are expected to lose patent or regulatory protection. Guidance also reflects year-to-date performance, confidence in the business, ongoing cost-improvement initiatives, and exchange rates based on actual rates through the third quarter and mid-October rates for the rest of the year.
Key facts
- Pfizer raised full-year 2026 revenue guidance by $1.5 billion at the midpoint to $62.0–$64.0 billion, from $60.5–$62.5 billion previously. source
- Pfizer’s full-year 2026 guidance includes adjusted SI&A expenses of $12.5–$13.5 billion and adjusted R&D expenses of $10.8–$11.8 billion, versus previously guided R&D expenses of $10.5–$11.5 billion. source
- Pfizer’s 2026 guidance anticipates an unfavorable revenue impact of approximately $1.1 billion from recent and expected generic and biosimilar competition for certain products that have lost or are expected to lose patent or regulatory protection. source
- Pfizer raised and narrowed full-year 2026 adjusted diluted EPS guidance to $2.95–$3.05, from $2.80–$3.00 previously. source
- Pfizer’s adjusted diluted EPS guidance assumes approximately 5.74 billion diluted weighted-average shares outstanding and no share repurchases in 2026. source
- Pfizer’s 2026 adjusted diluted EPS guidance includes a one-time $650 million acquired in-process R&D charge related to the Innovent Biologics in-licensing and collaboration agreement, recorded in third-quarter 2026, with an unfavorable impact of approximately $0.10. source
- Pfizer’s full-year 2026 guidance assumes an effective tax rate on adjusted income of approximately 15.0%. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| revenue | positive | committed | +8.5% | Pfizer raised full-year 2026 revenue guidance by $1.5 billion at the midpoint to $62.0–$64.0 billion, from $60.5–$62.5 billion previously. |
| revenue | negative | committed | -6.2% | Pfizer’s 2026 guidance anticipates an unfavorable revenue impact of approximately $1.1 billion from recent and expected generic and… |
| operating_income | negative | committed | -1.7% | Pfizer’s full-year 2026 guidance includes adjusted SI&A expenses of $12.5–$13.5 billion and adjusted R&D expenses of $10.8–$11.8 billion,… |