Drug major Pfizer Inc. (PFE), while reporting lower profit in its first quarter despite revenue growth, on Tuesday maintained fiscal 2026 outlook.
In the pre-market activity, the shares were gaining around 0.40 percent, trading at $26.44, after closing Monday's regular trading 0.11 percent lower.
For fiscal 2026, the company continues to expect adjusted earnings per share in a range of $2.80 to $3.00, and revenues in a range of $59.5 to $62.5 billion.
In the first quarter, the company's net earnings came in at $2.687 billion, down 9 percent from $2.967 billion last year. Earnings per share declined 10 percent to $0.47 from $0.52 a year ago.
Adjusted earnings were $4.290 billion or $0.75 per share for the period, compared to $5.237 billion or $0.92 per share a year ago.
The company's revenue for the period rose 5.4 percent to $14.451 billion from $13.715 billion last year. Operational growth was 2 percent year-over-year.
Excluding contributions from Comirnaty and Paxlovid, revenues grew 7 percent operationally.
The company recorded 22 percent year-over-year operational revenue growth from launched and acquired products.
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