PFE.US expects a big jump in Q2 earnings, with core products focusing on the market
1min read Pfizer (PFE.US) will report its second-quarter earnings on Tuesday, July 30. Zacks expects Pfizer to report Q2 revenue of $13.22 billion, up 3.8% YoY; earnings per share of $0.46, down 31.3% YoY.
The consensus EPS estimate for Pfizer has increased 1.17% over the past 30 days.
Pfizer has exceeded the consensus EPS estimate in all four quarters.
Pfizer is facing a lack of "core" growth as the impact of the pandemic fades and the related revenues for COVID-19 drugs decline sharply. Investors are looking for the performance of Pfizer's core products, particularly its oncology and vaccine products outside of COVID-19 drugs.
Pfizer is also advancing a weight-loss drug development and is looking to enter the $50 billion weight-loss drug market. The company earlier this month said that it had cleared a scientific hurdle in a small study and that its once-daily oral weight-loss drug, danuglipron, would enter mid-stage research in the second half of this year. If the drug is successful, it will enter the final stages of development.
Pfizer has estimated that its oral weight-loss drug will eventually capture about a third of the weight-loss drug market. Analysts expect the weight-loss drug market to reach $130 billion by the end of this decade.
Pfizer's shares have risen nearly 12% this year, but have lagged the S&P 500 by more than 14%.