{"id":123689,"date":"2021-05-04T13:42:16","date_gmt":"2021-05-04T13:42:16","guid":{"rendered":"https:\/\/precoinnews.com\/?p=123689"},"modified":"2021-05-04T13:42:16","modified_gmt":"2021-05-04T13:42:16","slug":"pfizer-q1-profit-rises-lifts-fy-outlook","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/business\/pfizer-q1-profit-rises-lifts-fy-outlook\/","title":{"rendered":"Pfizer Q1 Profit Rises; Lifts FY Outlook"},"content":{"rendered":"

Pfizer Inc. (PFE) reported a profit for the first-quarter that increased 45 percent from last year. It raised 2021 guidance driven by the updated expectations for contributions to 2021 performance from COVID-19 vaccine, as well as the strong performance of the business<\/span>, partially offset by anticipated additional R&D investments into vaccines to protect against COVID-19.<\/p>\n

Quarterly revenues rose 45 percent from the prior year. The company reported $3.5 billion in first-quarter sales of its COVID-19 vaccine.<\/p>\n

The company raised its fiscal year 2021 adjusted earnings per share outlook to a range of $3.55 – $3.65 from the prior outlook of $3.10 – $3.20. Analysts expect annual earnings of $3.36 per share.<\/p>\n

The company also increased its annual revenues guidance to a range of $70.5 billion – $72.5 billion from the prior estimation of $59.4 billion – $61.4 billion. Analysts expect revenues of $62.99 billion.<\/p>\n

The company now expects full-year sales of $26 billion from the COVID-19 vaccine, up from its previous forecast of about $15 billion, reflecting 1.6 billion doses expected to be delivered in 2021 under signed contracts as of mid-April 2021.<\/p>\n

Pfizer’s first-quarter net income attributable to common shareholders grew 45 percent to $4.88 billion from the previous year’s $3.36 billion, with earnings per share improving to $0.86 from $0.60 last year.<\/p>\n

Adjusted net income was $0.93 compared to $0.63 in the previous year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.78 per share for the first-quarter. Analysts’ estimates typically exclude special items.<\/p>\n

Revenues for the first-quarter were $14.6 billion, an increase of $4.5 billion, or 45 percent, from the prior-year quarter, reflecting operational growth of $4.2 billion, or 42 percent, as well as a favorable impact of foreign exchange of $284 million, or 3%. Analysts expected revenues of $13.6 billion for the quarter.<\/p>\n

First-quarter 2021 operational growth was primarily driven by BNT162b2, which contributed $3.5 billion in global revenues.<\/p>\n

In Tuesday pre-market trade, PFE was trading at $40.34 up $0.51 or 1.28 percent. <\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Pfizer Inc. (PFE) reported a profit for<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23051],"tags":[],"yoast_head":"\nPfizer Q1 Profit Rises; Lifts FY Outlook - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/business\/pfizer-q1-profit-rises-lifts-fy-outlook\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pfizer Q1 Profit Rises; Lifts FY Outlook - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"Pfizer Inc. 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