Pfizer named longtime finance executive Cecile Guegan chief financial officer in November and raised its 2026 outlook after third-quarter revenue and adjusted earnings topped analyst expectations, CNBC reported Tuesday.
The company’s revenue outlook is now $62 billion to $64 billion, compared with its previous range of $60.5 billion to $62.5 billion. Its adjusted earnings forecast rose to $2.95 to $3.05 per share from $2.80 to $3. CNBC said Pfizer cited performance so far this year and continuing cost reductions. The lower end of the new revenue range is roughly level with or slightly below the company’s $62.6 billion in 2025 revenue.
Pfizer recorded $16.58 billion in third-quarter revenue, little changed from a year earlier. Adjusted earnings were 87 cents per share. Analysts surveyed by LSEG had expected revenue of $15.87 billion and adjusted earnings of 73 cents per share, CNBC reported.
The company’s account, as reported by CNBC, cited a $57 million operational revenue decline, largely tied to lower COVID-product sales, and a $15 million hit from foreign exchange. Higher sales of other medicines helped offset those pressures: Eliquis brought in $2.52 billion, up 25%, while cancer drug Padcev generated $720 million. Sales from Pfizer’s recently launched and acquired products rose 32% on an operational basis. Its COVID vaccine and antiviral Paxlovid also exceeded analysts’ sales expectations, despite steep declines in those products’ revenue.
Cecile Guegan became Pfizer’s chief financial officer in November after serving in the interim role since August. She spent about two decades in finance leadership positions at the company. Former Pfizer CFO Dave Denton left to become CFO of Nike, CNBC reported.
Pfizer is targeting about $9.7 billion in net savings through 2029. CNBC reported that the company expanded its multiyear cost-reduction effort in August to help counter lower COVID-product sales; generic competition also threatens some of its largest medicines. CEO Albert Bourla was scheduled to discuss the results on CNBC at 1:30 p.m. ET Tuesday.
