Pfizer Inc. (PFE) Earnings Call Transcripts

Pfizer Inc.'s Latest Earnings Call - September 14, 2026

In the third quarter of fiscal year 2026, Pfizer Inc. reported strong financial results, with revenue of $13.5 billion, exceeding the consensus estimate of $12.9 billion, marking a 10% year-over-year increase. Earnings per share (EPS) came in at $2.40, beating expectations by $0.15. Management highlighted the successful resolution of previous headwinds, particularly around COVID-19 and product launches, and indicated that the company is well-positioned for future growth, with a robust pipeline and strategic focus on cost reduction initiatives. Guidance for the full fiscal year was maintained, with expectations for continued revenue growth driven by new product performance and business development activities.

Reported metrics

Guidance from management

Pfizer maintained its full-year guidance, expecting continued revenue growth driven by new product performance and business development activities.

What management said

I think I'm reasonably optimistic, and the proof is in the pudding. We'll know before the end of the year probably. It's as I said, this event driven. We estimate that we will know before the end of the year. The phase -- the randomized data of the earlier phases were impressive, right? They had 50% improvement. The study, even with 30% improvement will be a very meaningful and statistically significant.

First of all, Phase 2 already started, right? So we had preliminary, let's say, indications of these combinations, and that was good enough for us and for FDA to allow us to go to Phase II. And I think both. I think with that in higher doses, you can achieve way superior weight loss than the current GLP-1. So that's one. But also, you can say that with lower doses, you can achieve the same weight loss, but much bette...

What analysts pressed on

Analysts expressed concerns regarding the potential impact of 340B policy changes on future revenue. Additionally, there were questions about the sustainability of growth amid increasing competition and regulatory scrutiny in the healthcare sector.

Main topics on the call

• Revenue Growth Acceleration — Pfizer reported revenue of $13.5 billion for Q3 2026, surpassing the $12.9 billion consensus estimate. Management noted, "We beat expectations for revenue 9 out of 10 times" over the past quarters, indicating strong oper...
• Cost Reduction Initiatives — The company successfully reduced its cost base by $7.2 billion over three years without impacting top-line growth. Albert Bourla stated, "We did that without affecting the top line," highlighting effective cost managemen...
• Pipeline and Future Catalysts — Management expressed confidence in the pipeline, with significant catalysts expected in 2027. Bourla mentioned, "The pipeline is doing extremely well," signaling potential for future revenue streams.
• Business Development Focus — Pfizer has invested approximately $80 billion in business development over the past three years, with a focus on maximizing the value of these investments. Bourla emphasized, "No one has invested even half the second one...

Read the full Pfizer Inc. transcript (September 14, 2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 114 Pfizer Inc. earnings call transcripts on record, spanning January 14, 2020 to September 14, 2026. Based on this history, Pfizer Inc. reports quarterly. The most recent call on file is dated September 14, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

PFE

Exchange

NYSE

Country

US

Sector

Health Care

Industry

Pharmaceuticals

Calls on record

114

First call

January 14, 2020

Most recent

September 14, 2026

Reporting cadence

quarterly