Join        Login             Stock Quote

Pfizer (PFE) 4Q Earnings Jump On Sale Of Nutrition Business

 January 29, 2013 07:28 AM

(By Balachander) Pfizer Inc. (NYSE: PFE) posted a jump in quarterly earnings as a hefty gain from the sale of its Nutrition business boosted results. Adjusted results also topped market expectations.

Adjusted earnings per share (EPS) declined 4 percent to 47 cents from 49 cents, versus Wall Street expectations of 44 cents.

Reported earnings were $6.32 billion, including income of discontinued operations of $4.83 billion related to the sale of the company's Nutrition business in November 2012 to Nestle. In the year-ago quarter, Pfizer earned $1.44 billion.

Revenue was $15.06 billion, down 7 percent from $16.14 billion, while analysts expected $14.37 billion. U.S. revenue fell 9 percent, while International revenue declined 5 percent due to the unfavorable impact of foreign exchange and the losses of exclusivity of cholesterol drug Lipitor in developed Europe.

[Related -Pfizer Inc. (PFE) Q3 Earnings Preview: What To Watch?]

"Fourth-quarter reported earnings were favorably impacted by the gain on the sale of the Nutrition business....lower acquisition-related costs, while unfavorably impacted by higher costs associated with the potential separation of Zoetis," the company said.

The New York-based pharmaceutical giant's total Lipitor revenue tumbled 71 percent for the fourth quarter. Lipitor lost exclusivity in the U.S. in November 2011 and other markets in 2011 and 2012. This loss of exclusivity reduced branded worldwide revenues by $1.4 billion in the fourth quarter.

[Related -Six Stocks That Could Get An October Bump From The FDA]

Pfizer, which bought Wyeth for $68 billion in 2009, has a diverse drug portfolio including Lipitor, Novarsc, Lyrica, Prevnar, Enbrel, Celebrex. The company shells out about $8 billion a year on R&D, and is developing more than 75 compounds.

Cost of sales fell 13 percent. Selling, informational and administrative expenses and research and development expenses dropped 7 percent and 17 percent, respectively.

Looking ahead for the full year 2013, the company forecasts adjusted EPS in the range of $2.20 to $2.30 on revenue between $56.2 billion and $58.2 billion. Analysts expect EPS of $2.29 on revenue of $57.55 billion.

The stock, which has been trading in the 52-week range between $20.75 and $27.30, ended Monday's regular trading at $26.84.

iOnTheMarket Premium


Post Comment -- Login is required to post message
Alert for new comments:
Your email:
Your Website:

rss feed

Latest Stories

article imageMBIA Inc. (MBI) : BTI's $12 a Tough Task

MBIA Inc. (NYSE:MBI) is doing well on a day stocks are struggling The guarantee insurance company is the read on...

article imageUrban Outfitters, Inc. (URBN) Q2 Earnings Preview: A Snug Fit

Urban Outfitters, Inc. (NASDAQ:URBN) will hold a webcast to discuss its second quarter of fiscal-year 2015 read on...

article imageEstee Lauder Companies Inc. (EL) Q4 Earnings Preview: Options Player Betting On EL’s EPS Looking Pretty

Estee Lauder Companies Inc. (NYSE:EL) will release fiscal 2014 fourth quarter and full year financial read on...

article imageHerbalife Ltd. (HLF): 3 Reasons To Pay Attention to Recent Insider Buying

Well, well, well… it looks as if boardroom buyers viewed the recent selloff as an opportunity to buy. read on...

Popular Articles

Daily Sector Scan
Partner Center

Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.