Pfizer Inc (PFE) Q2 2024 Earnings Report

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Pfizer Inc

PFE

$26.03 1.30%

Exchange: NYSE | Sector: Healthcare | Industry: Drug Manufacturers General

Q2 2024

Published: Aug 5, 2024

Earnings Highlights

Revenue of $13.28B up 0.4% year-over-year
EPS of $0.00 increased by 101% from previous year
Gross margin of 62.1%
Net income of 24.00M
"Albert Bourla: "We believe we are well positioned to continue creating value for our shareholders. Our business is performing well with a strong first half of the year. We are confident in our ability to navigate the post-pandemic environment effectively."" - Albert Bourla

PFE

Pfizer Inc

Period Q2 2024

Currency USD

Report Type Quarterly Earnings

Generated Dec 8, 2025

Executive Summary

In Q2 2024, Pfizer Inc experienced a resilient financial performance driven by robust execution across its core product portfolio. The company reported total revenues of $13.3 billion, reflecting a year-over-year increase of 3%, underpinned by significant growth in non-COVID product sales. Key strategic priorities, including achieving world-class oncology leadership and expanding its innovative pipeline in obesity treatment, continue to fuel growth. Management’s focus on cost realignment and operational efficiencies is anticipated to enhance future profitability, presenting a strong investment thesis as Pfizer navigates the post-pandemic landscape.

Key Performance Indicators

Revenue

Increasing

13.28B

QoQ: -10.73% | YoY: 0.39%

Gross Profit

Increasing

8.24B

62.10% margin

QoQ: -21.48% | YoY: 108.00%

Operating Income

Increasing

1.88B

QoQ: -58.78% | YoY: 194.80%

Net Income

Increasing

24.00M

QoQ: -99.23% | YoY: 101.01%

EPS

Increasing

0.00

QoQ: -99.24% | YoY: 101.00%

Revenue Trend

Margin Analysis

Financial Highlights

Revenue Performance:
- Total Revenue: $13.3 billion
- Year-over-Year Growth: 3%
- Non-COVID Products Operational Growth: 14% in Q2 2024.

Profitability Metrics:
- Gross Profit: $8.24 billion with a gross profit margin of 62.1%, an improvement from the previous year.
- Operating Income: $1.88 billion, yielding an operating margin of 14.1%.
Net Income: $24 million (up 101.0% YoY)
- Adjusted EBITDA: $2.4 billion, with an EBITDA margin of 27.2%.

Cash Flow:
- Cash at End of Period: $1.05 billion, up from $719 million at the beginning of the period.
- Free Cash Flow: -$2.42 billion, driven by strategic investments and dividend payments.

Income Statement

Metric	Value	YoY Change	QoQ Change
Revenue	13.28B	0.39%	-10.73%
Gross Profit	8.24B	108.00%	-21.48%
Operating Income	1.88B	194.80%	-58.78%
Net Income	24.00M	101.01%	-99.23%
EPS	0.00	101.00%	-99.24%

Key Financial Ratios

Gross Profit Margin

Excellent

62.10%

Gross profit margin is exceptional, indicating strong pricing power and operational efficiency

Operating Profit Margin

Fair

14.10%

Operating margin is moderate, room for improvement in cost management

Net Profit Margin

Weak

0.18%

Net profit margin is below industry norms, profitability concerns

Return on Assets

Weak

0.01%

Return on assets suggests inefficient capital allocation

Return on Equity

Weak

0.03%

Return on equity suggests inefficient capital allocation

Current Ratio

Concern

0.86

Current ratio below safe levels, potential liquidity risk

Debt to Equity

Elevated

0.78

Debt-to-equity shows significant leverage, monitor debt levels

P/E Ratio

High Growth

1,665.57x

Very high P/E indicates aggressive growth expectations, higher risk

Price to Book

Fair Value

1.82x

Price-to-book ratio reasonable for profitable companies

Historical Earnings Comparison

Period	Revenue ($M)	EPS ($)	YoY Growth	Report
Q4 2024	17,763.00	0.07	+19.4%	View
Q3 2024	17,702.00	0.78	+24.2%	View
Q2 2024	13,283.00	0.00	+0.4%	View
Q1 2024	14,879.00	0.55	+16.8%	View

Pfizer Inc (PFE) Q2 2024 Earnings Report

Earnings Highlights

Executive Summary

Key Performance Indicators

Revenue Trend

Margin Analysis

Financial Highlights

Income Statement

Key Financial Ratios

Management Insights Available for Members

Peer Comparison Available for Members

Investment Outlook & SWOT Available for Members

Historical Earnings Comparison

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