Pfizer (PFE) Q2 2026 Earnings
How Did PFE Stock React to Q2 2026 Earnings?
S&P 500 over the same 30 days: +0.24%.
Did PFE Beat Earnings? Q2 2026 Results
Yes. Pfizer reported Q2 2026 earnings of $0.77 a share on Aug 4, 2026, beating the $0.68 consensus estimate by 12.9%. Revenue was $15.0B against a $14.4B estimate.
Pfizer posted a solid second-quarter beat on both the top and bottom lines, extending its streak of adjusted EPS beats to six consecutive quarters as the pharmaceutical giant navigated a mixed product landscape. Adjusted diluted EPS of $0.77 topped the $0.68 consensus estimate by 12.87%, while revenue of $15.03 billion, up 2.6% year over year, cleared the $14.39 billion analyst expectation by 4.49%. The outperformance was driven largely by non-COVID products, which grew 18% operationally and more than offset steep declines in Paxlovid and Comirnaty; Eliquis rose 19% operationally on favorable U.S. pricing dynamics, Padcev climbed 23% on urothelial cancer share gains, and Lorbrena advanced 37% in ALK+ lung cancer. Institutional interest in the stock has been building alongside results, with some investors adding new positions in recent months. Looking ahead, Pfizer raised its full-year 2026 revenue guidance midpoint by $500 million to a range of $60.50 to $62.50 billion, while reaffirming adjusted diluted EPS guidance of $2.80 to $3.00.
- Launched and acquired products grew 18% operationally year-over-year
- Eliquis up 19% operationally driven by higher net price in U.S. from lower rebates and channel mix favorability plus higher global demand
- Padcev up 23% operationally driven by increased first-line la/mUC market share and cisplatin-ineligible MIBC launch uptake
- Vyndaqel family up 8% operationally driven by continued diagnosis uptake and market expansion
- Lorbrena up 37% operationally driven by increased first-line ALK+ mNSCLC patient share
- Paxlovid down 95% operationally due to lower COVID-19 infections
- Comirnaty down 34% operationally due to lower returns provision adjustment and narrower vaccination recommendation
“Pfizer had another strong quarter, delivering on our financial commitments and advancing our strategy. Our launched and acquired products performed well, our obesity program is advancing with meaningful momentum and our oncology portfolio remains a source of strength. I am confident we will create substantial future value for patients and shareholders.”
Pfizer CEO, on the earnings call
What Is Pfizer's Outlook?
Pfizer raised its full-year 2026 revenue guidance midpoint by $500 million to a range of $60.5 to $62.5 billion (midpoint $61.5 billion), reflecting approximately $1.5 billion better-than-expected non-COVID product performance partially offset by a $1.0 billion reduction in COVID-19 product revenue expectations (now approximately $4 billion vs. $5 billion previously). Full-year 2026 adjusted diluted EPS guidance is reaffirmed at $2.80 to $3.00, absorbing an approximately $0.10 impact from the $650 million Innovent Biologics transaction to be recorded in Q3 2026. Adjusted SI&A expenses are expected at $12.5 to $13.5 billion, adjusted R&D expenses at $10.5 to $11.5 billion, and effective tax rate on adjusted income at approximately 15.0%. Guidance assumes diluted weighted-average shares of approximately 5.74 billion and no share repurchases in 2026. An anticipated unfavorable revenue impact of approximately $1.1 billion is expected from recent and expected generic and biosimilar competition.
PFE YoY Financials
| Metric | Q2 2026 | Q2 2025 | Year over year |
|---|---|---|---|
| Revenue | $15.0B | $14.7B | +2.6% |
| Gross Profit | $10.9B | $9.4B | +16.2% |
PFE Revenue by Segment
PFE Revenue by Geography
When Does Pfizer Report Next?
Figures from SEC filings and company reports. Not investment advice.