Pfizer Stock Rises as 2025 Outlook in Line With Expectations | Global News Avenue

Pfizer (PTFE) shares rose on Tuesday morning after the drugmaker confirmed its full-year 2024 forecast and issued 2025 revenue and adjusted profit guidance in line with analysts’ expectations.

Pfizer says it expects 2024 income Adjusted range is $61 billion to $64 billion Earnings per share (EPS) Expect it to be between $2.75 and $2.95. Analysts expected revenue of $63.01 billion and adjusted earnings per share of $2.93, according to estimates compiled by Visible Alpha.

Pfizer expects its revenue range to remain unchanged in 2025, while analysts expect a slight increase to $63.24 billion. Pfizer expects adjusted earnings per share to rise slightly to $2.80 to $3.00, while analysts expected $2.89.

Pfizer hits 2024 cost reduction target

Pfizer has successfully met its goal of cutting $4 billion in costs by the end of 2024 and expects to save another $500 million next year, the company said on Tuesday. Drug manufacturers have Restore revenue growth in two of its recent quarters This is the first time since COVID-19 vaccine sales peaked.

“We also expect to continue to improve our operating margins through focused financial discipline,” Chief Executive Officer (CEO) Dr. Albert Bourla said.

Pfizer shares have recently risen 4.5%, but are still down about 8% this year.