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Notable Earnings To Watch Next Week – LLY, AAPL, PG, MRK, PFE, CVX

Pfizer Inc. (PFE)
Pfizer Inc. (PFE)

Healthcare products maker Pfizer Inc. (PFE) is slated to release financial results for its second quarter on Tuesday, July 30. Wall Street analysts expect earnings of $0.75 per share on revenue of $13.40 billion for the quarter.

Year-Ago Numbers:

* Revenues - $13.5 Bln
* Reported Net Income - $3.87 Bln
* Reported EPS - $0.65
* Adj. Income - $4.83 Bln
* Adj. EPS - $0.81.

FY19 Outlook:

* Now expects FY19 adj. EPS of $2.83 - $2.93 versus prior view of $2.82 - $2.92; Consensus - $2.91/Shr.
* Still sees FY19 revenues in the range of $52 bln - $54 bln; Consensus - $53.28 bln.

Recent Happenings:

July 1, Pfizer reported top-line results from CrisADe CARE 1 study showed that crisaborole ointment, 2%, was well-tolerated in children aged 3 months to less than 24 months with mild to moderate atopic dermatitis. Currently, it is approved for mild to moderate atopic dermatitis in patients two years of age and older.

June 28, Pfizer said the U.S. Food and Drug Administration has approved Zirabev, a biosimilar to Avastin, for the treatment of five types of cancer.

June 17, Pfizer agreed to acquire Array BioPharma Inc. for $48 per share in cash, for a total enterprise value of about $11.4 billion. The Boards of Directors of both companies have approved the merger. Pfizer expects to complete the acquisition in the second half of 2019. The transaction is expected to be dilutive to Pfizer's adjusted earnings per share by $0.04 -$0.05 in 2019, $0.04 -$0.05 in 2020, neutral in 2021, and accretive beginning in 2022, with additional accretion and growth anticipated thereafter.