About this content About Angela Harmantas Angela Harmantas is an Editor at Proactive. She has over 15 years of experience covering the equity markets in North America, with a particular focus on junior resource stocks. Angela has reported from numerous countries around the world, including Canada, the US, Australia, Brazil, Ghana, and South Africa for leading trade publications. Previously, she worked in investor relations and led the foreign direct investment program in Canada for the Swedish government ...

Francesca DeMartino Chief Investor Relations Officer, Senior Vice President Fourth Quarter 2025 Earnings 2 Fourth Quarter 2025 Earnings Teleconference February 3, 2026 1 Introduction Forward-Looking Statements and Non-GAAP Financial Information Fourth Quarter 2025 Earnings 3 • Our discussions during this conference call will include forward-looking statements that are subject to substantial risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such s ...

分组1 - Pfizer reported quarterly earnings of $0.66 per share, exceeding the Zacks Consensus Estimate of $0.57 per share, and showing an increase from $0.63 per share a year ago, resulting in an earnings surprise of +16.81% [1] - The company achieved revenues of $17.56 billion for the quarter ended December 2025, surpassing the Zacks Consensus Estimate by 4.26%, although this represents a decline from year-ago revenues of $17.76 billion [2] - Pfizer has surpassed consensus EPS estimates in all four of the last quarters and has topped consensus revenue estimates three times during the same period [2] 分组2 - The stock has gained approximately 7.1% since the beginning of the year, outperforming the S&P 500, which has gained 1.9% [3] - The future performance of Pfizer's stock will largely depend on management's commentary during the earnings call and the outlook for earnings estimates [3][4] - The current consensus EPS estimate for the upcoming quarter is $0.75 on revenues of $13.9 billion, and for the current fiscal year, it is $2.97 on revenues of $60.81 billion [7] 分组3 - The Large Cap Pharmaceuticals industry, to which Pfizer belongs, is currently ranked in the bottom 23% of over 250 Zacks industries, indicating potential challenges for stock performance [8] - The Zacks Rank for Pfizer is currently 5 (Strong Sell), suggesting that the stock is expected to underperform the market in the near future [6]

Core Insights - Pfizer Inc. reported positive topline data from a mid-stage study for its weight loss drug PF'3944 and exceeded fourth-quarter earnings expectations [1][6] Weight Loss Data - The Phase 2b VESPER-3 study showed a mean placebo-adjusted weight loss of up to 12.3% at week 28 for adults with obesity or overweight [2] - At week 28, Arms 1 and 3 achieved 10% and 12.3% placebo-adjusted weight loss, respectively, indicating robust weight loss without a plateau [3] - PF'3944 maintained a favorable safety profile, with mostly mild or moderate gastrointestinal adverse events reported [4] Clinical Development - Pfizer plans to initiate ten Phase 3 trials for PF'3944 in 2026, as part of a broader clinical development program with over 20 studies planned or ongoing [5] Fourth Quarter Earnings Snapshot - Adjusted earnings for Q4 2025 were 66 cents, up from 63 cents year-over-year, surpassing the consensus estimate of 57 cents [6] - Q4 sales decreased by 1% year-over-year to $17.56 billion, exceeding the consensus of $16.96 billion, reflecting a 3% operational decline [6] Revenue Drivers - The operational decline was mainly due to reduced COVID-19 product revenues, partially offset by increases in sales of Abrysvo, oncology biosimilars, and other products [7] - Comirnaty sales fell 35% to $2.27 billion, while Paxlovid sales dropped 70% to $218 million due to lower COVID-19 infections [8] Core Drugs Performance - Sales of the heart drug Vyndaqel family increased by 7% to $1.69 billion, while cancer drug Ibrance sales decreased by 5% to $1.04 billion [9] - Blood thinner Eliquis revenues rose by 8% to approximately $2.02 billion, and Prevnar sales also increased by 8% to $1.71 billion [10] Outlook - Pfizer reaffirmed its fiscal 2026 adjusted earnings guidance of $2.80-$3.00 per share, compared to the consensus of $2.97 [11] - The company expects approximately $5 billion in revenues from COVID-19 products and anticipates a negative revenue impact of about $1.5 billion due to loss of exclusivity for certain products [12] Stock Performance - Pfizer's stock was down 5.10% at $25.30 during the premarket session [13]

Pfizer reported fourth-quarter results that beat expectations, offering a steadier earnings picture as the company moves further away from the Covid-driven revenue surge of recent years. While demand ... ...

Core Insights - Pfizer announced a positive study outcome for a weight-loss drug candidate, indicating potential growth in this therapeutic area [1] - The company also projected a decline in profits, attributing this to the pricing and tariff policies implemented during the Trump administration [1] Group 1: Drug Development - Pfizer's weight-loss drug candidate has shown promising results in a recent study, which could enhance its portfolio in the obesity treatment market [1] Group 2: Financial Outlook - The company forecasts a profit decline, highlighting the adverse effects of the Trump administration's policies on drug pricing and tariffs [1]

Group 1 - PepsiCo's snack division, Frito-Lay, is struggling due to the impact of GLP-1 weight loss drugs, prompting concerns about the company's future performance [1] - CEO Ramon Laguarta may take significant actions to reduce the company's reliance on snacks, indicating potential strategic shifts [1] - Despite these challenges, PepsiCo's stock closed nearly five points higher, suggesting market optimism or a broader positive trend following a strong quarter from Colgate [1] Group 2 - The market is currently seeing declines in traditional safety stocks, with PepsiCo down over 8% for the year, although it has a 4% yield and is under pressure from an activist firm [3] - Comparatively, other companies like Conagra have experienced even steeper declines, with a nearly 33% drop, highlighting the challenging environment for food and beverage stocks [3]

Core Viewpoint - Pfizer reported a decline in fourth-quarter sales due to decreasing demand for its Covid-19 vaccine and antiviral drug [1] Group 1: Company Performance - Pfizer's fourth-quarter sales were lower compared to previous periods, indicating a significant drop in revenue from Covid-19 related products [1]

Core Insights - Pfizer's experimental obesity drug, acquired through Metsera, demonstrated significant weight loss in a mid-stage trial, with patients losing up to 12.3% of their weight compared to placebo at week 28 [1] - The injection's weight loss efficacy was noted to be 10.5% when considering all patients, regardless of discontinuations [1] Group 1 - The data suggests that the injection can be administered less frequently than existing treatments without losing efficacy, positioning Pfizer favorably in a market currently led by Eli Lilly and Novo Nordisk [2] - Pfizer plans to initiate 10 phase three trials for the injection, named PF'3944, within the year [2] Group 2 - Dr. Jim List, Pfizer's chief internal medicine officer, stated that the topline results support the potential of PF'3944 as a monthly treatment with competitive efficacy [3] - The trial involved patients transitioning from weekly to monthly injections, with no plateau in weight loss observed after the switch [3]

Pfizer also releases positive top-line results from a trial for its injectable GLP-1 receptor agonist in adults with obesity. ...