Pfizer has raised its full-year 2026 revenue and earnings forecasts after delivering strong third-quarter results, powered by robust commercial performance, disciplined execution and accelerating growth from its newer and acquired products.
The pharmaceutical giant reported third-quarter revenue of $16.6 billion, broadly unchanged from the same period last year. However, excluding contributions from its COVID-19 products Comirnaty and Paxlovid, revenue rose 7% operationally, highlighting the strength of its broader business.
A major growth driver was Pfizer's launched and acquired product portfolio, which recorded a striking 32% year-over-year operational revenue increase.
The strong performance has prompted the company to raise its full-year 2026 revenue guidance by $1.5 billion at the midpoint, setting a new range of $62 billion to $64 billion. Pfizer also raised and narrowed its adjusted diluted earnings-per-share forecast to $2.95-$3.05.
Pfizer Chairman and CEO Albert Bourla said the company had delivered another strong quarter while making progress on its long-term growth strategy.
"Pfizer had another strong quarter with commercial momentum and disciplined execution while advancing our strategy for creating long-term shareholder value. Our obesity program continued to advance and recent milestones in oncology, immunology and vaccines further demonstrate the potential of our pipeline. With a robust slate of expected catalysts ahead, I believe we're well positioned to deliver meaningful new medicines for patients and lasting value in the years ahead."
The company is also banking on its late-stage development pipeline to sustain momentum, reporting eight key pivotal study starts, one pivotal study readout and two regulatory decisions during the recent period.
Cecile Guegan, Pfizer's CFO and Executive Vice President, pointed to strong global commercial performance and continued cost discipline as key contributors to the quarter's results.
“Our third-quarter results reflect strong commercial performance globally and continued operational discipline. This quarter, our non-COVID products delivered strong 7% operational revenue growth, and I’m particularly pleased with the 32% year-over-year operational revenue growth from our launched and acquired products. Today, we are raising our full-year 2026 Revenue and Adjusted diluted EPS guidance, reflecting our strong year-to-date performance and confidence in our business.”
Pfizer also announced Guegan's appointment as Chief Financial Officer and Executive Vice President.
While adjusted earnings remained stable in the third quarter, reported profit declined compared with the previous year.
Pfizer posted reported net income of $3.24 billion, down 8% from $3.54 billion in the third quarter of 2025. Reported diluted earnings per share fell 9% to $0.56 from $0.62.
Adjusted net income, however, edged up 1% to $4.99 billion from $4.95 billion, while adjusted diluted EPS remained unchanged at $0.87.
For the first nine months of 2026, revenue increased 2% to $46.07 billion from $45.02 billion a year earlier. But reported net income dropped 40% to $5.68 billion, while reported diluted EPS fell 40% to $0.99.
Adjusted net income declined 6% to $13.72 billion, and adjusted diluted EPS slipped 7% to $2.39.
Pfizer's Global Biopharmaceuticals Business generated $16.28 billion in third-quarter revenue, compared with $16.31 billion in the corresponding period last year.
For the first nine months, the business recorded revenue of $45.11 billion, up 2% on a reported basis and 1% operationally.
Pfizer CentreOne contributed $300 million in third-quarter revenue, down 13% reported and 12% operationally from $344 million a year earlier. Its nine-month revenue stood at $962 million, broadly unchanged from the previous year.
With stronger-than-expected year-to-date performance, accelerating contributions from newer products and a pipeline packed with potential milestones, Pfizer is entering the final stretch of 2026 with an upgraded financial outlook and a renewed focus on long-term growth.
