Pfizer's rebound and McDonald's E. coli impact headline pre-market earnings; post-close focus shifts to Alphabet and AMD.
Pfizer's non-COVID drugs and contributions from new and newly acquired products are likely to have driven top-line growth in the third quarter.
Pfizer (NYSE: PFE) is scheduled to report its Q3 2024 results on Tuesday, October 29. We expect the company to post revenue of $15.1 billion and earnings of $0.63 on a per share and adjusted basis, slightly above the consensus estimates of $14.9 billion and $0.62, respectively.
Pfizer's quarterly financial report on Tuesday comes at a critical moment for the U.S. drugmaker and its CEO, as activist hedge fund Starboard Value ramps up the pressure to demonstrate concrete results of a promised turnaround.
The company's problems are no longer deniable.
The pharmaceutical company's stock is relatively cheap, representing an opportunity for patient value investors.
Today's Final Trades from the Investment Committee.
Beyond analysts' top -and-bottom-line estimates for Pfizer (PFE), evaluate projections for some of its key metrics to gain a better insight into how the business might have performed for the quarter ended September 2024.
Pfizer's Q3 consensus estimate is likely to be exceeded as the successful integration of Seagen assets and the deleveraging efforts should lead to stronger EPS growth in the coming quarters. In Q2, we saw that management's approach is effective as they have successfully reduced operating costs relative to sales, resulting in higher margins. PFE has raised adjusted EPS guidance for 2024, now expecting adjusted EPS of $2.45-2.65, up from $2.15-2.35, moving the middle of the range up $0.30.
Starboard calls out PFE's board of directors to take action against the latter's management for not earning sustainable revenue returns on R&D and M&A.
The FDA approves Pfizer's RSV vaccine, Abrysvo, for adults aged 18-59 years with increased risk of the disease.
PFE's non-COVID drugs and contributions from new and newly acquired products are likely to have driven top-line growth in the third quarter.