Pfizer (PFE) reported net income of US$ 3.2 billion in the third quarter of 2026 (US$ 3,242 million), down 8% from US$ 3.5 billion in the same period of 2025. Earnings per share (EPS) were US$ 0.56, versus US$ 0.62 a year earlier. Adjusted earnings per share (non-GAAP, which excludes items the company considers non-recurring) came in at US$ 0.87, the same as in 3Q25.
Revenue totaled US$ 16.6 billion (US$ 16,583 million), virtually flat from US$ 16,654 million in 3Q25. Excluding results from Comirnaty and Paxlovid, revenue grew 7% on an operational basis (excluding currency effects). Recently launched and acquired products rose 32% on an operational basis. Paxlovid revenue, meanwhile, fell 63% to US$ 449 million, and Comirnaty declined 30% to US$ 808 million. Among products that grew, Eliquis rose 25% to US$ 2.5 billion, and Padcev advanced 55% to US$ 720 million.
Adjusted net income was US$ 5.0 billion (US$ 4,985 million), up 1%. In the quarter, the company recorded a US$ 650 million expense for acquired in-process research and development rights, tied to the licensing and collaboration agreement with Innovent Biologics. Restructuring charges were US$ 791 million, versus US$ 286 million a year earlier, mainly due to severance costs from the cost realignment program.
Pfizer raised its 2026 revenue guidance to between US$ 62.0 billion and US$ 64.0 billion, from US$ 60.5 billion to US$ 62.5 billion previously. Its adjusted earnings per share guidance moved to between US$ 2.95 and US$ 3.05, from US$ 2.80 to US$ 3.00. The guidance does not assume share repurchases in 2026; the remaining authorization is US$ 3.3 billion. In the nine months, the company paid US$ 7.3 billion in dividends, or US$ 1.29 per share.
The company also named Cecile Guegan as CFO and executive vice president, unanimously elected by the board, effective November 1, 2026. She had served as interim CFO since August 16, 2026 and has been at Pfizer since 2009, following the acquisition of Wyeth. The compensation committee approved an annual base salary of US$ 1.3 million and a target annual cash incentive of US$ 1.3 million.
