This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive
compensation for actions taken through them.
Pfizer Inc. (NYSE: PFE) has managed to handily beat consensus fourth-quarter earnings expectations, at least on the surface. Earnings came to $0.56 per share on $13.6 billion in sales. Thomson Reuters had estimates of $0.52 in earnings per share, but revenue expectations were for $16.27 billion.
The guidance for 2014 was put in a range of $2.20 to $2.30 per share, on revenues of $49.2 billion to $51.2 billion. Thomson Reuters had consensus estimates of $2.28 in earnings per share and revenue of $49.74 billion. Pfizer’s guidance also reflects the anticipated negative impact of approximately $3.0 billion due to recent and expected product losses of exclusivity and a collaboration end. The earnings portion of guidance reflects an anticipated $5 billion in additional share repurchases in 2014.
Pfizer did show that its effective tax rate on adjusted income declined 2.0 percentage points, which fell to 27.7% from 29.7%.
Pfizer shares closed down 1.4% to $29.66 on Monday, and shares were indicated back up just above $30 in early indications Tuesday. Its stock has traded in a 52-week range of $26.79 to $32.50, and the consensus price target is up at $33.17.
Get Ready To Retire (Sponsored)
Start by taking a quick retirement quiz from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes, or less.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Get started right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.