Pfizer (PFE) Raises Full-Year Revenue Outlook to $64B on New Products

Pfizer (PFE) reported fiscal third-quarter results that beat estimates and raised its full-year revenue outlook to a range of $62 billion to $64 billion. This is up from a previous forecast of $60.5 billion to $62.5 billion, reflecting strong demand for its newly launched and acquired products. The low end of the new guidance is roughly flat or slightly below Pfizer's 2025 revenue of $62.6 billion.

The company’s adjusted full-year profit per share guidance was also increased to between $2.95 and $3.05, up from $2.80 to $3.00. This includes a one-time $650 million charge in the third quarter related to a licensing agreement with Chinese drugmaker Innovent Biologics, impacting earnings by 10 cents per share. Pfizer reaffirmed its Covid product revenue outlook at about $4 billion for the year, expecting most sales in the fourth quarter during vaccination season.

Pfizer appointed Cecile Guegan as the new chief financial officer following Dave Denton's departure. CEO Albert Bourla noted that Covid revenues were very low this year but stated this was a positive development since the company is outperforming despite a reduced Covid product portfolio. Pfizer’s strategy to drive growth includes strategic acquisitions, new cancer drugs, and weight loss treatments, notably through acquiring Metsera. The company is also pursuing cost-cutting efforts targeting $9.7 billion in net savings by 2029.

This outlook upgrade is significant for investors because it shows Pfizer’s ability to maintain revenue and profit growth amid declining Covid sales. The full-year guidance hike and stronger profit outlook reflect confidence in its evolving product mix and pipeline performance, impacting future revenue and earnings expectations.