TLDR
- Q1 adjusted EPS came in at $0.75, beating the consensus estimate of $0.72.
- Total quarterly revenue was $13.8 billion, supported by Eliquis’ strong performance
- Net profit decreased by 9% compared to the previous year, reaching $2.7 billion. Diluted earnings per share decreased by 10%.
- The company maintains its full-year outlook for 2026: adjusted EPS of $2.80-$3.00 and revenue between $59.5 billion-$62.5 billion.
- PFE shares rose about 0.5% in early premarket activity to about $26.33
Pfizer kicked off 2026 on a positive note with first-quarter results that beat expectations, sending shares up about 0.5% to $26.33 during pre-market hours.
The drugmaker had adjusted earnings of $0.75 per share, beating Street forecasts of $0.72. Quarterly revenue was $13.8 billion.
The company’s anticoagulant drug Eliquis, one of Pfizer’s biggest sources of revenue, has shown continued strength. This product remains an important performer as older drugs show greater resilience than market observers expected.
CFO David Denton highlighted a 22% operating revenue expansion as a result of newly introduced and recently acquired treatments. This metric represents a trend that Pfizer aims to maintain and expand.
On the other hand, profitability metrics showed some weakness. The pharmaceutical giant reported net income of $2.7 billion, which represented a 9% decline year over year. Diluted EPS settled at $0.47, representing a 10% year-over-year contraction.
The company maintains a full-year forecast
Pfizer It kept its 2026 financial outlook unchanged, sticking with forecasts originally presented in December. Management continues to expect adjusted EPS in the range of $2.80 to $3.00 along with total revenue of $59.5 billion to $62.5 billion.
Wall Street analysts were expecting earnings of $2.96 per share and revenue of $61.4 billion, putting both squarely within company-oriented benchmarks.
The pharmaceutical company also confirmed that no stock buybacks are expected during 2026. This expectation remains constant regardless of how the business performs throughout the year.
CEO Albert Bourla adopted an optimistic stance. “We launch into 2026 with great momentum,” he noted, highlighting positive Phase 3 trial results and promising mid-stage data.
Bourla emphasized oncology and weight management as two therapeutic areas where Pfizer believes it has a “strong competitive position to emerge as a leader.”
Upcoming patent expirations remain a concern
The looming patent abyss remains one such challenge Pfizer Most of the headwinds are near-term. Important intellectual property protections covering blockbuster drugs, including Eliquis, are set to expire before 2030.
Pfizer has implemented strategies to mitigate this effect. The organization has negotiated arrangements with generic drug producers to extend exclusivity periods on selected treatments, including Vendaqil.
Additionally, the company has expanded its product portfolio through strategic acquisitions and internal development initiatives to strengthen the pipeline.
The R&D portfolio is reportedly advancing across multiple fronts, with oncology and obesity-related programs receiving particular attention from executive leadership.
First-quarter revenue expanded 5% year-over-year to $14.5 billion on a reported basis, exceeding market expectations going into the earnings announcement.
The combination of earnings and revenue outperformance resulted in a more positive quarterly report than most investors expected.
