Pfizer Projects $64 Billion in Revenue for 2024, Shares Soar on Strong Earnings Outlook

After successfully meeting its fourth-quarter targets, Pfizer has expressed optimism about its financial outlook for the upcoming fiscal year. On Tuesday, Pfizer’s stock rose following the announcement of its 2024 annual forecast and its revenue and adjusted earnings guidance for 2025, which align with analysts’ estimates.

Pfizer projects its 2024 revenue to range between $61 billion and $64 billion, with adjusted earnings per share (EPS) expected to fall between $2.75 billion and $2.95 billion.

According to Visible Alpha, analysts anticipate revenue of $63.1 billion and adjusted earnings of $2.93 billion. For 2025, Pfizer maintains the same revenue range, while analysts predict a slight increase to $63.24 billion.

Pfizer forecasts adjusted EPS for 2025 to fall between $2.8 billion and $3 billion, exceeding analysts’ estimates of $2.89 billion. The company also reported achieving its cost-cutting target of $4 billion by the end of 2024 and expects to save an additional $500 million over the next year.

Pfizer CEO Albert Bourla noted that the company witnessed a return to revenue growth for the first time since the peak of COVID-19 vaccine sales in the most recent second quarter. He expressed anticipation of continued improvements in operating margins through focused financial discipline.

Pfizer’s shares climbed 4.48% following the announcement, although they remain down about 8% for the year.