Pfizer earnings date
Pfizer's next results are expected on November 3, 2026. Watch whether non-COVID sales sustain the forecast and whether cash after dividends and capital expenditure improves.
What has Pfizer guided for the year?
Guidance is management’s forecast. Pfizer issued its 2026 forecast on August 4. It expects revenue between $60,500 million and $62,500 million, with a midpoint of $61,500 million. COVID revenue guidance fell by $1 billion, to $4,000 million, so non-COVID products must provide the improvement.
| Period guided | Low | High | Date given | |
|---|---|---|---|---|
| Revenues | Year to Dec 2026 | 60,500 | 62,500 | Aug 4, 2026 |
| Revenues, Midpoint | Year to Dec 2026 | 61,500 | 61,500 | Aug 4, 2026 |
| Adjusted SI&A Expenses | Year to Dec 2026 | 12,500 | 13,500 | Aug 4, 2026 |
| Adjusted R&D Expenses | Year to Dec 2026 | 10,500 | 11,500 | Aug 4, 2026 |
| Adjusted Diluted EPS | Year to Dec 2026 | 2.80 | 3.00 | Aug 4, 2026 |
| COVID-19 products revenue expectation | Year to Dec 2026 | 4,000 | 4,000 | Aug 4, 2026 |
What this means. The expected loss of 0.10 dollars per share from the Innovent Biologics transaction is already included in the company's forecast range, so it should not be subtracted again.
Has Pfizer kept its past promises?
Pfizer also reported $5.1 billion of savings toward its $5.7 billion cost-realignment objective for 2026. It reported approximately $800 million of annual Seagen cost synergies toward a $1 billion objective. Synergies are savings or other benefits from combining operations, but cutting costs alone does not prove that the acquisition earned an adequate return.
How have Pfizer's revenue and profit changed?
Revenue reached 15,034 in June 2026, up from 14,653 a year earlier. Operational growth was only 1%, while sales excluding Comirnaty and Paxlovid grew faster. Gross margin fell from 74.2% to 72.8%, and operating income declined from 3,783 to 3,063.
| Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | 15,034 | 14,451 | 17,557 | 16,654 | 14,653 | 13,715 | 17,763 | 17,702 |
| Gross margin | 72.8% | 75.4% | 70.0% | 74.9% | 74.2% | 79.3% | 66.7% | 70.3% |
| Operating income | 3,063 | 4,031 | 2,872 | 3,851 | 3,783 | 3,738 | 2,348 | 4,958 |
| Net income | -256 | 2,701 | -1,648 | 3,541 | 2,885 | 2,967 | 403 | 4,473 |
| EPS, diluted | -0.04 | 0.47 | -0.29 | 0.62 | 0.51 | 0.52 | 0.07 | 0.79 |
What this means. The June and September cash figures come from six- or nine-month totals, so they do not show only what happened in those three months.
What should you watch in Pfizer's next results?
Pfizer reports third-quarter results on November 3, 2026. Investors should watch whether non-COVID sales sustain the upgraded forecast and whether cash after dividends and capital expenditure improves. The Innovent transaction also brings a research charge into that quarter, so an earnings beat will matter less if funding capacity does not improve with it.