New York, Feb 9 (SocialNews.XYZ) US pharmaceutical company Pfizer Inc. has presented weaker-than-expected operating guidance for 2022 leading to material loss of its stock price.
Pfizer expects to realise $98-102 billion of revenues in 2022 and the mid-point of the guidance range represents a 23-per cent growth from that in 2021.
Pfizer would have $103.2 billion of revenues of consensus estimate, according to market information supplier FactSet.
Pfizer raised its forecast on revenues from Covid-19 vaccine in 2022 by $1 billion to $32 billion, which is still lower than FactSet consensus estimate of $34.8 billion and $33.79 billion of consensus forecast released by market data supplier Refinitiv.
Antivirus pill Paxlovid is projected to generate $22 billion of revenues in 2022, lower than $22.88 billion estimated by ten analysts polled by Refinitiv.
Adjusted diluted earnings per share (EPS) of Pfizer would range from $6.35-6.55 in 2022, lower than FactSet estimate of $6.71.
"Today we are issuing guidance for the coming year which, if achieved, would represent the highest level of annual revenues and adjusted diluted EPS in Pfizer's long history," said Frank D'Amelio, Chief Financial Officer and Executive Vice-President of Pfizer.
There is less potential upside to this guidance through the year, compared to the situation the company faced in 2021 when the vaccine was newly available and few people had received any doses of the vaccine, D'Amelio added.
The stock price of Pfizer shed as much as 6.62 per cent at one point in the morning session due to the weaker-than-expected guidance.
The revenues of Pfizer in 2021 jumped 95 per cent to $81.288 billion, which is roughly in line with market expectations.
Meanwhile, the operating results of Pfizer in the fourth quarter of 2021 were mixed with adjusted EPS topping market expectation but revenues lower than expected.
Source: IANS
About Gopi
Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.
He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.
When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.
He can be reached at gopi@socialnews.xyz