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PFE Stock Alert: 3 Major Takeaways From Pfizer’s Q3 Earnings

  • Pfizer (PFE) reported Street-beating Q3 sales and profits, along with raised forward fiscal guidance.
  • Furthermore, Pfizer disclosed positive data for a respiratory virus vaccine.
  • PFE stock moved moderately higher in early-morning trading.
PFE stock - PFE Stock Alert: 3 Major Takeaways From Pfizer’s Q3 Earnings

Source: pio3 / Shutterstock.com

Pharmaceutical giant Pfizer (NYSE:PFE) is having a great day, as the company is serving up a triple-whammy for its investors. First, Pfizer’s top- and bottom-line third-quarter 2022 results beat analysts’ expectations. Second, the company raised its revenue and profit guidance. Finally, PFE stock is rising because Pfizer released encouraging results for its respiratory syncytial virus, or RSV, vaccine.

Regarding the clinical results, Pfizer announced its top-line data from a Phase 3 study of “RSVpreF when administered to pregnant participants to help protect their infants from RSV disease after birth.”

RSVpreF met a primary endpoint of the study, demonstrating “81.8% efficacy in preventing a severe form of lower respiratory tract illness in infants in the first 90 days,” according to Yahoo! Finance. There are major revenue-generating implications here, as there currently aren’t any approved RSV vaccines in the U.S.

This, by itself, could have been enough to get the Pfizer bulls excited. However, the clinical results were just one of three pieces of positive news for Pfizer today.

PFE Stock Gets a Boost from Financial Data and Guidance

Turning to financial matters, Pfizer just released its Q3 2022 results, and there’s not much to complain about. On an adjusted and diluted basis, Pfizer earned $1.78 per share. Analysts, meanwhile had only expected $1.39 per share.

Moreover, Pfizer collected $22.64 billion in quarterly revenue, while Wall Street had modeled $21.07 billion. Yet, that’s not even the end of the story.

On top of all that, Pfizer raised its 2022 adjusted diluted EPS guidance from a range of $6.30 to $6.45 to a range of $6.40 to $6.50. Also, the company slightly adjusted its 2022 revenue guidance from between $98 billion and $102 billion to between $99.5 and $102 billion.

Consequently, PFE stock moved up 2% to 3% this morning. It’s a moderate price move, but there’s still time for Pfizer’s investors to absorb all of the good news. Soon enough, they may choose to celebrate Pfizer’s results by purchasing more shares, thereby pushing the price up even further.

On the date of publication, David Moadel did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

David Moadel has provided compelling content – and crossed the occasional line – on behalf of Motley Fool, Crush the Street, Market Realist, TalkMarkets, TipRanks, Benzinga, and (of course) InvestorPlace.com. He also serves as the chief analyst and market researcher for Portfolio Wealth Global and hosts the popular financial YouTube channel Looking at the Markets.


Article printed from InvestorPlace Media, https://investorplace.com/2022/11/pfe-stock-alert-3-major-takeaways-from-pfizers-q3-earnings/.

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