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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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