Pfizer Beats Q3 Estimates and Raises Full-Year Guidance on Eliquis and Cancer Drug Demand

Pfizer reported third-quarter 2026 revenue of $16.58 billion, topping the $15.87 billion Wall Street consensus, while adjusted EPS of $0.87 beat estimates of $0.73 by 14 cents. GAAP EPS came in at $0.56, a 9% decline year over year, but overall revenue was roughly flat compared to the prior-year period as strength in non-COVID products offset fading pandemic-era sales.

The company raised its full-year 2026 revenue guidance to a range of $62 billion to $64 billion, up from the prior range of $60.5 billion to $62.5 billion, and lifted its adjusted EPS outlook to $2.95 to $3.05 from $2.80 to $3.00. Both the new revenue midpoint and the EPS midpoint roughly align with analyst consensus of $62.17 billion and $2.96, respectively. Eliquis, the blood thinner Pfizer co-markets with Bristol-Myers Squibb, was cited as a key demand driver, rising 25% in the quarter, while the bladder cancer drug Padcev surged 55%. Non-COVID revenue grew 7% operationally, and revenue from recently launched and acquired products expanded 32% operationally year over year.

Pfizer also confirmed that Cecile Guegan has been appointed permanent Chief Financial Officer and Executive Vice President, effective November 1, 2026. Guegan, a roughly 20-year company veteran, had served as interim CFO since August 16, 2026. Shares edged about 1% higher in pre-market trading following the results, supported by a 5.6% dividend yield.