Pfizer Beats Q3 Estimates, Raises 2026 Guidance and Names Cecile Guegan Permanent CFO

PFE reported third-quarter 2026 adjusted earnings of $0.87 per share on Tuesday, $0.14 ahead of the $0.73 analyst consensus. Revenue came in at $16.58 billion against roughly $15.87 billion expected, which CNBC described as relatively flat from the same period a year ago. On a GAAP basis, Pfizer booked net income of $3.24 billion, or $0.56 per share, below the prior-year quarter.

The beat came with a guidance raise. Pfizer now expects 2026 revenue of $62 billion to $64 billion, up from $60.5 billion to $62.5 billion, and adjusted EPS of $2.95 to $3.05, up from $2.80 to $3.00. The blood thinner Eliquis did much of the work, with sales up 25% to $2.52 billion, driven primarily by higher U.S. net pricing. Sales of newly launched and acquired products grew 32% operationally, and Reuters singled out the recently acquired cancer drug Padcev among the growth drivers. Pfizer's release put Padcev at $720 million for the quarter, up 55%, while falling COVID product sales kept the headline revenue line flat; excluding Comirnaty and Paxlovid, the company said revenue grew 7% operationally.

Pfizer also settled its finance leadership. Cecile Guegan, a two-decade company veteran who had served as interim CFO since August, when Dave Denton left to become CFO of Nike, was named permanent chief financial officer effective November 1. BMO analyst Evan Seigerman said the appointment gives "more perceived stability" ahead of 2027 guidance decisions, according to Reuters. Reuters also reported that late-stage data for the experimental drug mevrometostat has slipped to the first quarter of 2027 from year-end.

The market reaction was muted: Reuters reported the shares down 0.4% at $30.53 in morning trading, against a prior close of $30.67. The quarterly dividend of $0.43 per share goes ex-dividend on November 6. What to watch next is whether Eliquis pricing gains persist and how Guegan frames 2027 guidance, the first full planning cycle under the new permanent CFO.