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On Tuesday, shares of Pfizer Inc. rose by 1.7% in pre-market trading following the release of its Q4 2024 financial report, which exceeded analysts' expectations.
The American pharmaceutical giant reported a net profit of $410 million, or 7 cents per share. This represents a significant improvement compared to a loss of $3.37 billion, or 60 cents per share, during the same period last year.
The company's revenue increased by 22%, totaling $17.76 billion, compared to $14.57 billion in Q4 2023. This performance surpassed FactSet's consensus estimate of $17.35 billion.
This growth is primarily due to a one-time non-cash revenue return of $3.5 billion associated with its antiviral drug Paxlovid. Additionally, there has been an increase in sales from the Seagen oncology portfolio, the Vyndaqel family for cardiovascular treatment, and overall growth in Paxlovid sales.
Total sales of Paxlovid reached $727 million, a significant improvement compared to the $3.14 billion loss recorded last year, which stemmed from the transition to a traditional commercial sales model in the U.S.
Furthermore, Pfizer experienced a positive impact from currency fluctuations, which added an extra $62 million to its overall revenue. The company's management has reaffirmed its forecast for 2025, projecting revenue between $61 billion and $64 billion, with adjusted earnings per share ranging from $2.80 to $3.00.
According to FactSet, the average analyst expectations are for revenue of $63.07 billion and earnings of $2.91 per share.
Pfizer's CFO, David Denton, expressed confidence that the company will return to pre-pandemic operational margin levels in the coming years and achieve total cost savings of $4.5 billion by the end of 2025.
This situation presents several opportunities for traders. Pfizer's stock has risen following a strong earnings report, which may indicate a continuation of this upward trend, making the company's shares attractive for short- and medium-term speculative trades.
Furthermore, considering the company's long-term prospects in innovative drug development, Pfizer remains a promising asset for investors seeking stable capital growth.
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Given the high volatility in the pharmaceutical sector and the upcoming release of key data on drug sales, investors should monitor Pfizer's stock closely.
In the upcoming quarters, the company is expected to continue growing its revenue by expanding its portfolio of prescription drugs, which could lead to further increases in its share prices.
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