NEW YORK CITY (dpa-AFX) - Drug major Pfizer Inc. (PFE), after reporting weak third-quarter results but above market estimates, on Tuesday raised fiscal 2025 adjusted earnings guidance again, while reaffirming revenue outlook.
In the pre-market activity, the shares were losing around 0.81 percent to trade at $24.49.
For fiscal 2025, the company now projects adjusted earnings in a range of $3.00 - $3.15 per share, higher than previously expected range of $2.90 to $3.10 per share.
The company continues to project revenues between $61.0 billion and $64.0 billion.
The Wall Street analysts on average expect the company to report earnings of $3.04 per share on revenues of $62.83 billion for the year. Analysts' estimates typically exclude special items.
The company's guidance absorbs the impact of the currently imposed tariffs from China, Canada, and Mexico.
David Denton, CFO and EVP of Pfizer, said, 'Our third-quarter performance demonstrates our continued focus on execution and financial discipline. We raised and narrowed our full-year 2025 Adjusted diluted EPS guidance, underscoring confidence in our ability to deliver strong results...'
Pfizer added that it is on track to deliver approximately $7.2 billion in overall anticipated net cost savings from previously announced cost improvement initiatives by end of 2027, driving productivity gains and operating margin expansion.
In the third quarter, Pfizer's bottom line totaled $3.541 billion or $0.62 per share, down 21% from $4.465 billion or $0.78 per share last year.
Adjusted earnings were $4.949 billion or $0.87 per share for the period, compared to $6.05 billion or $1.06 per share a year ago. Analysts had expected the company to earn $0.64 per share.
The company's revenue for the period fell 5.9 percent to $16.654 billion from $17.702 billion last year. The Street expected revenues of $16.50 billion for the quarter.
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