The 10-second takeaway
For the quarter ended July 1 (Q2), Pfizer met expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue dropped and GAAP earnings per share expanded significantly.
Margins improved across the board.
Pfizer reported revenue of $15.06 billion. The 13 analysts polled by S&P Capital IQ expected net sales of $14.91 billion on the same basis. GAAP reported sales were 11% lower than the prior-year quarter's $16.98 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.62. The 15 earnings estimates compiled by S&P Capital IQ predicted $0.54 per share. GAAP EPS of $0.43 for Q2 were 30% higher than the prior-year quarter's $0.33 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 82.1%, 350 basis points better than the prior-year quarter. Operating margin was 36.4%, 730 basis points better than the prior-year quarter. Net margin was 21.6%, 620 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $14.64 billion. On the bottom line, the average EPS estimate is $0.55.
Next year's average estimate for revenue is $59.64 billion. The average EPS estimate is $2.22.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 5,491 members out of 6,083 rating the stock outperform, and 592 members rating it underperform. Among 1,527 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 1,426 give Pfizer a green thumbs-up, and 101 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Pfizer is outperform, with an average price target of $24.92.
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