Pfizer beats Q3 estimates and raises full-year guidance; non-COVID revenue +7%, launched/acquired products +32% (Nov 3)
What happened
Pfizer reported Q3 2026 results Tuesday: revenue of $16.6B (roughly flat year over year) beat the ~$15.85-15.9B consensus by about 4.6%, and adjusted EPS of about $0.84-0.87 beat the ~$0.73-0.74 consensus by roughly 15-19%. GAAP EPS fell 9% to $0.56 on restructuring and acquisition charges. The company raised full-year 2026 guidance: revenue to $62-64B (from $60.5-62.5B in August, midpoint ~1.3% above consensus) and adjusted EPS to $2.95-3.05 (from $2.80-3.00). CEO Albert Bourla said non-COVID revenue grew 7% operationally, while launched and acquired products surged 32% operationally. Standouts: Eliquis +25% to $2.5B, Padcev +55% to $720M, Ibrance over $1B; drags: Paxlovid -63% to $449M, Comirnaty -29% to $808M, Prevnar -10% to $1.56B. Shares traded about 0.5% higher Tuesday morning near multi-year highs.
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Start your free 14-day trialWho’s affected
- Pfizer (beat-and-raise on post-COVID transition); large-cap pharma peers (read-through on non-COVID demand and pricing — Eliquis +25% to $2.5B signals strong demand for branded cardio/metabolic drugs)
- Bristol Myers Squibb (Eliquis co-developer shares in the upside); healthcare sector broadly via earnings-season confidence