Pfizer’s COVID-19 Vaccine Generated Second Quarter Sales of $7.8 Billion

Shares of Pfizer Inc. PFE,
fell 0.6% in premarket trading Wednesday after the company clocked in an additional nearly $8 billion in revenue for the COVID-19 vaccine it developed with BioNTech SE BNTX,
Pfizer now expects the vaccine to generate $33.5 billion in revenue this year. The company posted earnings of $5.56 billion, or 98 cents per share, in the second quarter of 2021, compared to $3.49 billion or 62 cents per share in the same quarter a year ago. Adjusted EPS was $1.07, against a FactSet consensus of 97 cents. Pfizer’s revenue rose to $18.97 billion for the quarter, compared to $9.86 billion in revenue generated in the second quarter of 2020. This is mainly driven by two factors: an improved year-over-year performance compared to the second quarter of 2021, which saw much of the western world in pandemic lockdown and $7.8 billion in revenue from the COVID-19 -vaccine. The FactSet consensus for Pfizer’s sales was $18.70. Pfizer has updated its guidance to say it now expects revenues of $45.0 million to $47.0 billion for 2021, compared to previous guidance that had quoted revenues of $44.6 billion to $46.6 billion. It also said it now expects full-year earnings per share of $3.95 to $4.05. Pfizer’s stock is up 14.3% so far this year, while the broader S&P 500 SPX,
won 17.2%.