Earnings release
Page 1
Pfizer PFIZER REPORTS STRONG FIRST - QUARTER 2021 RESULTS First - Quarter 2021 Revenues of $ 14.6 Billion , Reflecting 42 % Operational Growth ; Excluding Revenues for BNT162b2 of $ 3.5 Billion , Revenues Grew 8 % Operationally Including a Negative 5 % Impact from Pricing First - Quarter 2021 Reported Diluted EPS ( ¹ ) of $ 0.86 , Adjusted Diluted EPS ( 2 ) of $ 0.93 Raises Full - Year 2021 Guidance for Revenues to a Range of $ 70.5 to $ 72.5 Billion and Adjusted Diluted EPS ) to a Range of $ 3.55 to $ 3.65 , Primarily Reflecting Updates to Anticipated Contributions from BNT162b2 Partially Offset by Additional R & D Expenses for Vaccines to Protect Against COVID - 19 as Well as Other mRNA - Based Development Programs and COVID - 19 Antivirals Now Anticipates Revenues of Approximately $ 26 Billion for BNT162b2 , Reflecting 1.6 Billion Doses Expected to be Delivered in 2021 Under Signed Contracts as of Mid - April 2021 Raises Revenue Guidance Range Excluding BNT162b2 by $ 200 Million , Reflecting Continued Strong Performance of the Business Enters Into Contracts to Supply BNT162b2 to Canada and Israel for Periods Beyond 2021 ; Currently Negotiating Similar Potential Contracts with Multiple Other Countries Maintains Quarterly Dividend for Second - Quarter 2021 at $ 0.39 / Share ; Dividend Will Not Be Reduced as a Result of the Initiation of a Quarterly Dividend by Viatris Inc. ( Viatris ) ( 4 ) NEW YORK , NY , Tuesday , May 4 , 2021 - Pfizer Inc. ( NYSE : PFE ) reported financial results for first - quarter 2021 and raised 2021 guidance ( ³ ) for revenues and Adjusted diluted EPS ( 2 ) driven by the updated expectations for contributions to 2021 performance from BNT162b2 , the Pfizer - BioNTech SE ( BioNTech ) COVID - 19 vaccine , as well as the strong performance of the business excluding BNT162b2 , partially offset by anticipated additional R & D investments into vaccines to protect against COVID - 19 , as well as other mRNA - based development programs and COVID - 19 antivirals . Additionally , Pfizer published this morning on its website the first - quarter 2021 earnings presentation and accompanying prepared remarks from management . EXECUTIVE COMMENTARY Dr. Albert Bourla , Chairman and Chief Executive Officer , stated : " I am extremely proud of the way we have begun 2021 , delivering strong financial results in the first quarter . Even excluding the growth provided from BNT162b2 , our revenues grew 8 % operationally , which aligns with our stated goal of delivering at least a 6 % compound annual growth rate through 2025. In addition , we have achieved important clinical , regulatory and commercial milestones across our pipeline and portfolio while also continuing to increase our capacity to supply urgently - needed doses of BNT162b2 to the world . Each of these accomplishments further demonstrates our commitment to Pfizer's purpose : Breakthroughs that change patients ' lives . " - 1