Q4 22 EPS
$1.14
BEAT +8.57%
Est. $1.05
Q4 22 Revenue
$24.29B
BEAT +0.02%
Est. $24.29B
vs S&P Since Q4 22
-102.8%
TRAILING MARKET
PFE -27.4% vs S&P +75.4%
Full Year 2022 Results
FY 22 EPS
$6.58
FY 22 Revenue
$100.33B
Market Reaction
Did PFE Beat Earnings? Q4 2022 Results
Pfizer closed out 2022 on a strong note, posting fourth-quarter adjusted diluted EPS of $1.14, ahead of the $1.05 consensus estimate by 8.57%, as revenue of $24.29 billion rose 1.9% year-over-year and edged past expectations by a razor-thin 0.02%. Th… Read more Pfizer closed out 2022 on a strong note, posting fourth-quarter adjusted diluted EPS of $1.14, ahead of the $1.05 consensus estimate by 8.57%, as revenue of $24.29 billion rose 1.9% year-over-year and edged past expectations by a razor-thin 0.02%. The quarter's outperformance was driven largely by a $0.32 per-share tailwind from significantly lower acquired in-process R&D expenses compared to the year-ago period, which had been weighed down by the Trillium acquisition charge. Full-year revenues topped $100 billion, fueled by Paxlovid and Comirnaty, though the company acknowledged that excluding COVID-19 products, underlying growth was just 2% operationally. The results arrive as rival vaccine makers have been scaling back their own COVID programs amid waning demand, a headwind Pfizer itself now faces directly. Looking ahead, the company guided 2023 revenues of $67.00 to $71.00 billion and adjusted EPS of $3.25 to $3.45, projecting steep declines in COVID product sales while targeting 7% to 9% operational growth in its non-COVID portfolio.
Key Takeaways
- • Comirnaty bivalent booster resumption of deliveries in developed markets after lower Q3 volumes
- • Paxlovid international launches following regulatory approvals and EUAs
- • Prevnar 20 strong adult population uptake in the U.S., up 79% domestically
- • Vyndaqel family continued strong uptake of transthyretin amyloid cardiomyopathy indication, up 31% operationally
- • Eliquis continued oral anticoagulant adoption and U.S. market share gains, up 17% in U.S.
- • Revenue contributions from recently acquired Nurtec ODT/Vydura ($211M) and Oxbryta ($73M)
- • 10 medicines or vaccines generating more than $1 billion each for the full year
PFE YoY Financials
Q4 2022 vs Q4 2021, source: SEC Filings
PFE Revenue by Segment
With YoY comparisons, source: SEC Filings
PFE Revenue by Geography
With YoY comparisons, source: SEC Filings
“2022 was a record-breaking year for Pfizer, not only in terms of revenue and earnings per share, which were the highest in our long history, but more importantly, in terms of the percentage of patients who have a positive perception of Pfizer and the work we do.”
— Albert Bourla, Q4 2022 Earnings Press Release
PFE Earnings Trends
PFE vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
PFE EPS Trend
Earnings per share: estimate vs actual
PFE Revenue Trend
Quarterly revenue: estimate vs actual
PFE Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q4 25 BEAT FY | $0.57 | $0.66 | +15.79% | $17.56B | +4.09% |
| FY Full Year | $3.12 | $3.22 | +3.08% | $62.58B | +1.11% |
| Q3 25 BEAT | $0.64 | $0.87 | +36.96% | $16.65B | +0.92% |
| Q2 25 BEAT | $0.57 | $0.78 | +35.94% | $14.65B | +8.29% |
| Q1 25 BEAT | $0.68 | $0.92 | +35.19% | $13.72B | -2.69% |
| Q4 22 BEAT FY | $1.05 | $1.14 | +8.57% | $24.29B | +0.02% |
| FY Full Year | — | $6.58 | — | $100.33B | — |