Earnings Release Is Pfizer A Buy?

 

Pfizer Inc. (NYSE: PFE) reported financial results for first-quarter 2021 and raised 2021 guidance(3) for revenues and Adjusted diluted EPS(2) driven by the updated expectations for contributions to 2021 performance from BNT162b2, the Pfizer-BioNTech SE (BioNTech) COVID-19 vaccine, as well as the strong performance of the business excluding BNT162b2, partially offset by anticipated additional R&D investments into vaccines to protect against COVID-19, as well as other mRNA-based development programs and COVID-19 antivirals. 

Additionally, Pfizer published this morning on its website the first-quarter 2021 earnings presentation and accompanying prepared remarks from management. 

 

  • First-Quarter 2021 Revenues of $14.6 Billion, Reflecting 42% Operational Growth; Excluding Revenues for BNT162b2 of $3.5 Billion, Revenues Grew 8% Operationally Including a Negative 5% Impact from Pricing 
  • First-Quarter 2021 Reported Diluted EPS(1) of $0.86, Adjusted Diluted EPS(2) of $0.93 
  • Raises Full-Year 2021 Guidance(3) for Revenues to a Range of $70.5 to $72.5 Billion and Adjusted Diluted EPS(2) to a Range of $3.55 to $3.65, Primarily Reflecting Updates to Anticipated Contributions from BNT162b2 Partially Offset by Additional R&D Expenses for Vaccines to Protect Against COVID-19 as Well as Other mRNA-Based Development Programs and COVID-19 Antivirals 
  • Now Anticipates Revenues of Approximately $26 Billion for BNT162b2, Reflecting 1.6 Billion Doses Expected to be Delivered in 2021 Under Signed Contracts as of Mid-April 2021 
  • Raises Revenue Guidance Range Excluding BNT162b2 by $200 Million, Reflecting Continued Strong Performance of the Business 
  • Enters Into Contracts to Supply BNT162b2 to Canada and Israel for Periods Beyond 2021; Currently Negotiating Similar Potential Contracts with Multiple Other Countries 
  • Maintains Quarterly Dividend for Second-Quarter 2021 at $0.39/Share; Dividend Will Not Be Reduced as a Result of the Initiation of a Quarterly Dividend by Viatris Inc. (Viatris)

 

CWEB Analyst’s have initiated a Buy Rating for   Pfizer Inc. (NYSE: PFE) and potential upside of $99 in 2021. We believe that total revenue will grow faster than expenses in 2021. Revenue has doubled in some sectors of the company which is a very positive sign. We expect another jump in revenue in the second and third quarter of 2021. We also expect that Pfizer will start vaccine on young adults and maybe very young age kids and this will also increase their bottom line revenue.

PFE


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