Pfizer Reaffirms FY23 Adj. EPS Outlook - Update

(RTTNews) - While reporting financial results for the second quarter, drug major Pfizer Inc. (PFE) reaffirmed its adjusted earnings guidance for the full-year 2023, while trimming annual revenue outlook.

For fiscal 2023, the company now projects adjusted earnings in a range of $3.25 and $3.45 per share on revenues between $67.0 billion and $70.0 billion, with revenues of about $13.5 billion for Comirnaty and about $8 billion for Paxlovid. Excluding COVID-19 products, the company now expects 6 to 8 percent operational revenue growth.

Previously, the company expected adjusted earnings in the range of $3.25 and $3.45 per share on revenues between $67.0 billion and $71.0 billion, with revenues of about $13.5 billion for Comirnaty and about $8 billion for Paxlovid. Excluding COVID-19 products, the company continues to expect 7 to 9 percent operational revenue growth in 2023

The Street is looking for earnings of $3.01 per share on revenues of $61.01 billion for the year.

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