Pfizer (PFE) Q4 Earnings 2022

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.

The pharmaceutical company booked $100.3 billion for the full year 2022, its highest ever, with over $50 billion in Covid vaccine and antiviral sales.

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 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

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