Pfizer Tightens 2020 Guidance
October 27 2020 - 7:42AM
Dow Jones News
By Matt Grossman
Pfizer Inc. Tuesday offered more precise financial guidance for
the full year, tightening previously issued ranges and slightly
raising the midpoint of its adjusted profit forecast.
The pharmaceutical company said it now expects revenue of $48.8
billion to $49.5 billion for the full year, compared with a
previous range of $48.6 billion to $50.6 billion. Pfizer now
expects adjusted earnings per share of $2.88 to $2.93, a tweak from
the company's previous range of $2.85 to $2.95.
Pfizer said the pandemic's effects on the company's financial
performance so far were less severe than expected at the peak of
the crisis, but added that the recovery has been slower than
originally expected. The 2020 guidance doesn't assume a revenue
contribution from Pfizer's candidate Covid-19 vaccine, which has
entered a late round of testing in clinical trials.
Write to Matt Grossman at matt.grossman@wsj.com
(END) Dow Jones Newswires
October 27, 2020 07:27 ET (11:27 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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