Pfizer Poised for Mixed Second Quarter, RBC Says

Pfizer's (PFE) second-quarter revenue is expected to match Wall Street's estimates, while its earnings per share may fall short, RBC Capital Markets said in a note on Friday. The brokerage forecasts revenue of $14.43 billion, largely in line with consensus views, with EPS at $0.66, lower than the Street's $0.68 estimate. The drugmaker is scheduled to report its second-quarter financials Aug. 4. Pfizer COVID-19 products Comirnaty and Paxlovid are expected to generate lower-than-expected revenue for the second quarter amid waning demand for vaccinations, RBC analyst Trung Huynh wrote. Prostate cancer drug Xtandi will also likely miss consensus estimates, though Eliquis and Ibrance are seen coming in stronger than expected. Xtandi is co-developed by Pfizer and Astellas Pharma. Eliquis is a blood thinner medicine jointly developed by Bristol Myers Squibb (BMY) and Pfizer, while Ibrance is Pfizer's breast cancer treatment. "Our EPS sits 3% below consensus due to unfavorable gross margin mix and elevated (research and development) spending to fund key pipeline programs," according to the RBC note. RBC raised its 2026 revenue forecast to $61.33 billion from $61.25 billion and.