Pfizer raises 2026 outlook and names new finance chief

Pfizer increased its full-year 2026 financial guidance on Nov. 3 following third-quarter results that surpassed analyst expectations. The company now projects annual revenue between $62.0 billion and $64.0 billion, up from its previous forecast of $60.5 billion to $62.5 billion.

The pharmaceutical firm also raised its adjusted earnings per share guidance to a range of $2.95 to $3.05, compared to the earlier estimate of $2.80 to $3.00. For the third quarter, Pfizer reported revenue of $16.58 billion to $16.6 billion and adjusted earnings per share of $0.87.

Alongside the financial update, Pfizer announced the appointment of Cecile Guegan as Chief Financial Officer and Executive Vice President, effective Nov. 1. Guegan, who has been with the company for over 20 years, had served as interim CFO since Aug. 16 following the departure of Dave Denton.

CEO Albert Bourla stated that the company experienced a strong quarter characterized by commercial momentum and disciplined execution. Guegan noted that the raised guidance reflects the company's strong year-to-date performance and confidence in the business.

Pfizer is currently managing a decline in demand for its COVID-19 products, Comirnaty and Paxlovid. To offset these losses, the company is focusing on growth in other areas, such as its anticoagulant Eliquis and cancer therapy Padcev, while continuing a cost-reduction program aimed at achieving $9.7 billion in cumulative net savings by 2029.