Pfizer (PFE) Q2 Earnings: What To Expect

Global pharmaceutical company Pfizer (NYSE:PFE) will be reporting earnings this Tuesday before market hours. Here’s what to expect.

Pfizer beat analysts’ revenue expectations last quarter, reporting revenues of $14.45 billion, up 5.4% year on year. It was a mixed quarter for the company, with a beat of analysts’ EPS estimates but a miss of analysts’ full-year EPS guidance estimates.

Is Pfizer a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.

This quarter, the market is expecting Pfizer’s revenue to decline 1.7% year on year, a reversal from the 10.3% increase it recorded in the same quarter last year.

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Pfizer rarely misses Wall Street’s revenue estimates.

Looking at Pfizer’s peers in the pharmaceuticals segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Corcept delivered year-on-year revenue growth of 7.3%, missing analysts’ expectations by 1%, and Bristol-Myers Squibb reported revenues up 5.7%, topping estimates by 12.9%. Corcept traded up 27.3% following the results while Bristol-Myers Squibb was also up 3%.

Read our full analysis of Corcept’s results here and Bristol-Myers Squibb’s results here.

Investors in the pharmaceuticals segment have had steady hands going into earnings, with share prices flat over the last month. Pfizer is up 5.6% during the same time and is heading into earnings with an average analyst price target of $28.75 (compared to the current share price of $25.04).

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