Vials containing the Pfizer/BioNTech vaccine against the coronavirus disease (COVID-19) are displayed before being used at a mobile vaccine clinic in Valparaiso, Chile, January 3, 2022.
Rodrigo Garrido | reuters
pfizer on Tuesday issued sales guidance of $67 billion to $71 billion for 2023, a decline from its record-breaking 2022 results.
pharmaceutical company $100.3 billion booked for full year 2022Highest ever growth in Covid vaccine and antiviral sales to over $50 billion.
Pfizer expects revenue to decline by up to 33% for 2023 compared to 2022 Epidemic Easy and demand for its covid portfolio slides. The company expects $13.5 billion in 2023 in sales for the Covid vaccine and $8 billion for Paxlovid.
Pfizer is forecasting 2023 earnings of $3.25 to $3.45 per share, down 50% from its 2022 record of $6.58. The company reports net income of $31.4 billion in 2022, up 43% from 2021.
Pfizer’s stock fell 3% in premarket trading.
The drugmaker’s results for the fourth quarter largely met analysts’ expectations. The company booked net income of nearly $5 billion for the quarter, up 47% compared to the same period in 2021. It generated revenue of $24.3 billion for the quarter.
Here’s how the company fared compared to Wall Street’s expectation for the fourth quarter, based on average analysts’ estimates compiled by Refinitiv:
- Adjusted EPS: $1.14 vs $1.05 expected
- Revenue: $24.3 billion vs. $24.28 billion