NEW YORK CITY (dpa-AFX) - Drug major Pfizer Inc. (PFE) reported Tuesday a loss in its second quarter, compared to prior year's profit on one-time charges, despite higher revenues. Further, the frimmaintained fiscal 2026 ernings outlook, while raising revenue forecast.
The company further announced additional anticipated productivity enhancement savings of $2.5 billion associated with ongoing initiatives, expected to be realized from 2027 through 2029.
In the pre-market activity, the shares were gaining around 0.18 percent, trading at $25.09.
Looking ahead for fiscal 2026, the company continues to expect adjusted earnings per share in a range of $2.80 to $3.00,
Further, the company now raised revenue outlook by $500 million at the midpoint to a range of $60.5 billion to $62.5 billion, from previous estimate of $59.5 billion to $62.5 billion.
The 2026 full-year revenue guidance reflects better than expected performance of the non-COVID products by around $1.5 billion and the revised revenue expectation for COVID-19 products, down to approximately $4 billion from approximately $5 billion previously.
In the second quarter, the company recorded net loss of $248 million or $0.04 per share, compared to prior year's profit of $2.91 billion or $0.51 per share.
The latest quarter- loss mainly reflected $4.3 billion in non-cash intangible asset impairments.
Adjusted net income was $4.440 billion, compared to $4.434 billion last year. Adjusted earnings per share were $0.77, compared to prior year's $0.78.
Revenues totaled $15.03 billion, up 3 percent from $14.65 billion a year ago. Operational revenue growth was 1 percent.
The operational increase was driven by an increase in revenues for Eliquis, Padcev, the Vyndaqel family, Lorbrena and several other products across categories, partially offset by a decline in COVID-19 product revenues.
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