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Sentiment · FY2026 Q2
| Analyst | Firm | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Chris Schott | JPMorgan | 12 (0%) |
| Terence Flynn | Morgan Stanley | 9 (22%) |
| Steve Scala | TD Cowen | 9 (33%) |
| Umer Raffat | Evercore ISI | 8 (25%) |
| Vamil Divan | Guggenheim | 8 (25%) |
| Courtney Breen | Bernstein | 7 (0%) |
| Dave Risinger | Leerink Partners | 7 (14%) |
| Evan Seigerman | BMO Capital Markets | 7 (0%) |
| Asad Haider | Goldman Sachs | 7 (29%) |
| Geoff Meacham | Citigroup | 7 (0%) |
| Firm | Analysts | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| JPMorgan | 1 | 12 (0%) |
| TD Cowen | 1 | 9 (33%) |
| Goldman Sachs | 2 | 9 (22%) |
| Morgan Stanley | 1 |
Pfizer delivered Q1 revenues of $14.5 billion, exceeding expectations with 2% operational growth, and adjusted EPS of $0.75. Excluding COVID products, the underlying business delivered approximately 7% operational growth. The Vyndamax patent settlement extended exclusivity, and oncology pipeline readouts were positive. R&D investment increased 11% to support the pipeline. Full-year 2026 guidance was reaffirmed at $59.5-62.5 billion revenue and $2.80-$3.00 adjusted EPS. LOE headwinds through 2028 preceded a growth inflection.
Innovation & R&D | M&A | Regulation Policy | Competitive Dynamics | Demand | Capital Allocation | Trade Tariffs | Product Launch | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 10 | 4 | 3 | 5 | 6 | 3 | 6 | |
| 2025Q1 | 4 | 3 | 4 | 1 | 2 | 3 | 9 | 1 |
| 2025Q2 | 5 | 5 | 9 | 3 | 2 | 1 | 4 | 1 |
| 2025Q3 | 5 | 8 | 6 | 3 | 4 | 3 | 1 | 2 |
| 2025Q4 | 15 | 3 | 6 | 1 | 1 | |||
| 2026Q1 | 3 | 2 | 2 | 1 | 4 | 1 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | |
|---|---|---|---|---|---|---|
| Innovation & R&D | 10 | 4 | 5 | 5 | 15 | 3 |
| M&A | 4 | 3 | 5 | 8 | 3 | 2 |
| Regulation Policy | 3 | 4 | 9 | 6 | ||
| Competitive Dynamics | 5 | 1 | 3 | 3 | 6 | 2 |
| Demand | 6 | 2 | 2 | 4 | 1 | |
| Capital Allocation | 3 | 3 | 1 | 3 | 1 | 4 |
| Trade Tariffs | 9 | 4 | 1 | |||
| Product Launch | 6 | 1 | 1 | 2 | 1 | 1 |
| Quarter | Revenue | Rev YoY | EPS | EPS YoY | Op margin | Net margin | FCF |
|---|---|---|---|---|---|---|---|
| FY2024 Q4 | $17.76B | +21.9% | $0.07 | +112.1% | 32.2% | 2.3% | $5.80B |
| FY2025 Q1 | $13.71B | -7.8% | $0.52 | -5.1% | 33.7% | 21.6% | $1.77B |
| FY2025 Q2 | $14.65B | +10.3% | $0.51 | — | 24.4% | 19.9% | $-1.20B |
| FY2025 Q3 | $16.65B | -5.9% | $0.62 | -20.9% | 21.3% | 21.3% | $4.00B |
| FY2025 Q4 | $17.56B | -1.2% | $-0.29 | -503.3% | 21.0% | -9.4% | $4.50B |
| FY2026 Q1 | $14.45B | +5.4% | $0.47 | -9.5% | 27.9% | 18.6% | $2.18B |
| FY2026 Q2 | $15.03B | +2.6% | $-0.04 | -108.5% | 31.3% | -1.6% | $302M |
Management’s own words, often on a non-GAAP, constant-currency, or adjusted basis — so these can differ from the GAAP figures above (e.g. constant-currency revenue growth excludes currency swings).
| 9 (22%) |
| Evercore ISI | 1 | 8 (25%) |
| Guggenheim | 1 | 8 (25%) |
| Citigroup | 1 | 7 (0%) |
| Bernstein | 1 | 7 (0%) |
What PFE and other companies said about each other on FY2026 Q1 earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“the recently announced Pfizer settlement for Vyndamax impacts how you think about the TTR cardiomyopathy landscape”
An analyst asks about Pfizer's Vyndamax settlement (affecting stabilizer-class generic timing); Alnylam says its growth outlook is not dependent on stabilizer generic entry.
“Pfizer and IQVIA Holdings Inc. entered into a strategic regional promotion agreement covering selected Pfizer products across 23 countries in Europe.”
Pfizer signed a strategic regional promotion agreement with IQVIA covering selected products across 23 European countries, a commercial-services win that expands IQVIA's partnership with Pfizer.
“including both internally discovered programs and opportunities we have added through strategic moves such as our acquisition of Metsera and our in-licensing agreements with 3SBio and YaoPharma.”
Pfizer added pipeline assets via an in-licensing agreement with YaoPharma.
“including both internally discovered programs and opportunities we have added through strategic moves such as our acquisition of Metsera and our in-licensing agreements with 3SBio and YaoPharma.”
Pfizer added pipeline assets via an in-licensing agreement with 3SBio.
“We closed on the sale of our stake in ViiV in the second quarter, providing us with approximately $1.65 billion in net proceeds, after taxes and customary closing costs.”
Pfizer divested its minority stake in ViiV Healthcare for roughly $1.65 billion net, adding to its business-development capacity.
“that's the reason why we decided on March -- on February this year to actually do this collaboration with Hangzhou Sciwind Biosciences for the commercialization of ecnoglutide in China.”
Pfizer entered a collaboration with Hangzhou Sciwind Biosciences to commercialize the GLP-1 ecnoglutide in China's large obesity market.
“we're not coming very late into the market because remember, Lilly really introduced their asset in -- at the beginning of last year.”
Pfizer references Lilly as the incumbent in the China/international obesity (GLP-1) market as Pfizer launches ecnoglutide, noting it is not far behind Lilly's entry.
“even after many months of competition from Merck holding share steady at 70%.”
Pfizer says its Prevnar adult pneumococcal vaccine is holding 70% share despite competition from Merck's rival adult pneumococcal vaccine.
“our adjusted gross margins have generally remained in the mid-to-upper 70s when excluding Comirnaty, which is a 50-50 profit split with our partner BioNTech.”
BioNTech is Pfizer's Comirnaty COVID vaccine partner under a 50-50 profit split, which weighs on Pfizer's reported gross margin.
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
PFE Pfizer | 5 | +5.4% | |
| ABBV AbbVie | 9 | +12.4% | |
| AMGN Amgen Inc. | 8 | +5.8% | |
| BIIB Biogen | 4 | +1.9% | |
| BMY Bristol Myers Squibb | 4 | +2.6% | |
| GILD Gilead Sciences | 8 | +4.4% | |
| JNJ Johnson & Johnson | 7 | +9.9% | |
| LLY Lilly (Eli) | 10 | +55.5% | |
| MRK Merck & Co., Inc. | 7 | +4.3% |