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Highlights:
- Pfizer Inc. (NYSE:PFE) reported a strong Q1, FY 2022, revenue of US$25.7 billion on Tuesday.
- Pfizer posted 82% operational revenue growth in the first quarter of 2022.
- Pfizer’s direct sales of the Comirnaty vaccine grew to US$13.2 billion.
Pharma major Pfizer Inc. (NYSE:PFE) on Tuesday posted robust revenue growth of US$25.7 billion for the first quarter of fiscal 2022, boosted by COVID-19 vaccine sales.
The company’s diluted earnings per share (EPS) were US$1.37, and the adjusted diluted earnings per share were US$1.62.
Pfizer’s net income grew 66% to US$7.86 billion compared to US$4.8 in the year-ago period.
The company kept the supply steady for its Pfizer-BioNTech COVID-19 vaccine, marketed as Comirnaty, as demand stayed strong.
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Pfizer on track to delivering 2 bn vaccine doses to poor nations
“We are on track to fulfill our commitment to deliver at least 2 billion doses to low- and middle-income countries in 2021 and 2022,” said Pfizer Chairman and CEO Albert Bourla.
The first-quarter performance is not only a proud achievement from a financial perspective but also from the standpoint of being a force to reckon with during the pandemic, he added.
Pfizer has a market cap of US$273.83 billion, a P/E ratio of 12.77, and a forward one-year P/E ratio of 6.66. Its EPS is US$3.85. The 52-week highest and lowest stock prices were US$61.71 and US$37.96, respectively. Its trading volume was 36,228,410 on May 2.
Pfizer’s 2022 revenue guidance remains the same and represents 27% operational growth from 2021 revenues at the midpoint.
During the first quarter of 2022, Pfizer returned US$4.2 billion to its shareholders through a combination of US$2.2 billion in cash dividends and US$2.2 billion in share repurchases.
Bottom line:
Pfizer’s direct sales of the Comirnaty vaccine grew to US$13.2 billion, driven by demand for booster doses. Pfizer also received several regulatory approvals that bolstered its sales.
Another key driver of revenue was Paxlovid, which contributed US$1.5 billion in global sales.