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Earnings

Pfizer raises 2026 outlook after Eliquis and cancer drugs lift third-quarter beat

Adjusted profit of 87 cents topped the 73 cents analysts expected, but the stock sat near flat before the open.

· AP's Morning Brief

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Image: Arild Vågen, NYSE Broad Street facade, CC BY-SA 4.0

Pfizer raised its full-year 2026 forecasts on Tuesday after third-quarter results came in well ahead of Wall Street estimates, helped by its blood thinner Eliquis and cancer drug Padcev.

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The drugmaker earned 87 cents a share on an adjusted basis, against the 73 cents analysts polled by LSEG expected. Revenue was $16.58 billion, above the $15.87 billion forecast and roughly flat with the $16.654 billion Pfizer reported a year earlier. Lower COVID product sales weighed on the total, but excluding Comirnaty and Paxlovid, revenue grew 7% operationally. Eliquis sales rose 25% to $2.52 billion, and Padcev brought in $720 million.

Pfizer now expects 2026 revenue of $62.0 billion to $64.0 billion, up from $60.5 billion to $62.5 billion, a $1.5 billion lift at the midpoint. It also raised and narrowed its adjusted earnings outlook to $2.95 to $3.05 a share, from $2.80 to $3.00. The company said that range includes a one-time $650 million charge tied to its Innovent Biologics deal, worth about 10 cents a share.

The beat did not move the stock much early on. Pfizer shares were at $30.51 as of 9:08 a.m. ET in premarket trading, down $0.16, or 0.52%, from Monday's regular-session price of $30.67. Premarket prices can shift once regular trading opens at 9:30 a.m. ET.

Sources

  1. Pfizer via Business Wire — Q3 2026 revenues $16,583 million ($16.58 billion) vs $16,654 million ($16.654 billion) prior year, relatively flat; excluding Comirnaty and Paxlovid revenues grew 7% operationally; adjusted diluted EPS $0.87 (87 cents); FY2026 revenue guidance raised by $1.5 billion at midpoint to $62.0 to $64.0 billion from $60.5 to $62.5 billion; adjusted EPS guidance $2.95 to $3.05 from $2.80 to $3.00; includes one-time $650 million Innovent Biologics charge, about $0.10 (10 cents).
  2. CNBC — Pfizer earnings — EPS 87 cents adjusted vs 73 cents expected (LSEG); revenue $16.58 billion vs $15.87 billion expected; Eliquis $2.52 billion, up 25%; Padcev $720 million; guidance $62 billion to $64 billion from $60.5 billion to $62.5 billion; EPS $2.95 to $3.05 from $2.80 to $3.
  3. Reuters via StreetInsider — Adjusted profit 87 cents vs 73 cents (LSEG); revenue $16.58 billion vs $15.87 billion; sales target $62 billion to $64.0 billion from $60.5 billion to $62.5 billion; EPS $2.95 to $3.05; $650 million Innovent charge about 10 cents per share.
  4. Nasdaq.com quote (PFE) — PFE premarket $30.51, net change -0.16 (-$0.16), -0.52% as of Nov 3, 2026 9:08 AM ET; prior regular-session price $30.67 at 4:00 PM ET Nov 2. Regular trading opens 9:30 a.m. ET.
  5. Yahoo Finance (PFE chart data) — PFE Nov 2, 2026 regular-session price $30.67.