=Pfizer (PFE) reported earnings on Tue 30 Oct 2018 (b/o)

Pfizer beats by $0.03, misses on revs; narrows FY18 EPS in-line, lowers FY18 revs below consensus 

• Reports Q3 (Sep) earnings of $0.78 per share, excluding non-recurring items, $0.03 better than the S&P Capital IQ Consensus of $0.75; revenues rose 1.0% year/year to $13.3 bln vs the $13.53 bln S&P Capital IQ Consensus.
• Co issues guidance for FY18, narrows EPS of $2.98-3.02 from $2.95-3.05, excluding non-recurring items, vs. $2.99 S&P Capital IQ Consensus; lowers FY18 revs of $53-53.7 bln from $53.5-55.5 bln  vs. $54.16 bln S&P Capital IQ Consensus.
  • Updated guidance is primarily reflecting: lower-than-anticipated Essential Health revenues, primarily due to continued legacy Hospira Sterile Injectable Pharmaceuticals (SIP) product shortages in the U.S.; and recent unfavorable changes in foreign exchange rates in relation to the U.S. dollar from mid-July 2018 to mid-October 2018, primarily the weakening of certain emerging markets currencies and the euro.