Pfizer Inc. (NYSE: PFE) said on Tuesday that its profit in the fiscal fourth quarter came in weaker than expected. Revenue, on the other hand, topped analysts’ estimates in Q4. The company also gave upbeat guidance for the full financial year on Tuesday.
At £26.33 per share, Pfizer shares are now more than 30% up as compared to the low of £19.74 per share in March 2020 due to the ongoing Coronavirus pandemic that has so far infected over 100 million people worldwide and caused more than 2.2 million deaths.
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Pfizer’s Q4 financial results versus analysts’ estimates
Pfizer said that its net income in the fourth quarter printed at £434.48 million that translates to 7.31 pence per share. In the same quarter last year, it had reported £246.50 million of net loss or 4.39 pence per share.
Adjusted for one-time items, the pharmaceutical corporation earned 30.72 pence per share in the recent quarter versus the year-ago figure of 26.33 pence per share. Pfizer valued its revenue in Q4 at £8.54 billion that represents a 12% annualised growth.
According to FactSet, experts had forecast the company to post £8.40 billion of revenue in the fourth quarter. Their estimate for adjusted per-share earnings, however, stood at a higher 36.57 pence. Pfizer said in December that it will deliver 100 million additional doses of its COVID-19 vaccine to the U.S. government.
The American multinational said that its revenue from vaccines saw a 17% year over year increase in Q4. Revenue from its oncology segment came in 23% higher than last year, while from rare diseases unit, it registered a 26% annualised growth. Lastly, internal medicine revenue jumped 1% and hospital revenue climbed by 8% in the fourth quarter.
Pfizer’s guidance for fiscal 2021
For fiscal 2021, Pfizer now forecasts its adjusted per-share earnings to fall in the range of £2.27 to £2.34. The New York-headquartered company expects up to £44.91 billion of full-year revenue versus the FactSet Consensus of a lower £42.64 billion. Pfizer expects revenue from its COVID-19 vaccine to print near £11 billion this year.
Pfizer remained almost flat on average in the stock market last year. At the time of writing, the world’s largest pharmaceutical company is valued at £145.60 billion and has a price to earnings ratio of 23.17.