Earnings Preview : Pfizer Inc. (NYSE: PFE) Second Quarter 2010
Wednesday, July 28, 2021 3:08 PM

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Pfizer Inc. (NYSE: PFE) is scheduled to report its Q2 2010 results after the market closes on August 2, 2010. The Company is excited about its more diverse in-line product portfolio, including Prevnar/Prevenar 13 for infants and toddlers, which has been approved in more than 40 markets, and its expanded pipeline. It expects to receive phase three clinical results for numerous compounds in its pipeline during the remainder of 2010. 
 
Pfizer Inc is a research-based, global pharmaceutical company that discovers and develops innovative, value-added products that improve the quality of life of people around the world and help them enjoy longer, healthier, and more productive lives.  
 
As for Q1 2010, revenues were $16.8 billion, an increase of 54% compared with $10.9 billion in the year-ago quarter. Revenues for first-quarter 2010 compared with the year-ago quarter were favorably impacted by $5.3 billion, or 48%, due to the addition of the legacy Wyeth products, and $733 million, or 7%, due to foreign exchange. Pfizer posted reported net income of $2.0 billion, a decrease of 26% compared with $2.7 billion in the prior-year quarter, and reported diluted EPS of $0.25, a decrease of 38% compared with $0.40 in the prior-year quarter. First-quarter 2010 adjusted income was $4.9 billion, an increase of 33% compared with $3.7 billion in the year-ago quarter, and adjusted diluted EPS was $0.60, an increase of 11% compared with $0.54 in the year-ago quarter. 
 
Analysts' estimates for Q2 2010 range from a low of $0.50 to a high of $0.59, compared to a consensus estimate of $0.53, with number of estimates being 16 and a coefficient variance of 4.39. On June 24, the board of directors of Pfizer Inc. declared an 18-cent third-quarter 2010 dividend on the company's common stock, payable September 1, 2010, to shareholders of record at the close of business on August 6, 2010. Total sales are expected to come in at $16,680 million, with the operating income at $6,210 million. Net income should likely be $4,145 million and EPS $0.51. Wyeth, at present, has a sound product pipeline with the expected launch of pneumonia drug Prevnar, which has annual sales of around $3 billion in the US. This provides a significant upside for Pfizer's topline. The company's management has given a growth guidance on par with the industry average. With six brands among the top 100 and its sales restructuring and marketing initiatives, the target looks achievable.
 
The stock closed at $15.27 on July 27, 2021 and most analysts' rate this stock as a relative Overweight with an average price target of $20.
 

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