May 01, 2024 08:00 GMT
Pfizer: Full-Year Guidance Seen As Strong
HEALTHCARE
Pfizer (PFE: A2/A): 1Q24 Results
Pfizer reported a 7% Revenue beat $14.9b; Net Income $3.1bn well above $1.8bn expected.
- COVID related revenues fell -19% YoY
- Cost savings of $4bn expected in 2024
- Reaffirms full-year guidance of $58.5-$61.5bn sales
- No Share Repurchases planned for 2024
Pfizer is pivoting away from COVID related remedies. These results will be seen as strong vs some conservative expectations.
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