Pfizer Inc. has reaffirmed its full-year 2025 adjusted diluted EPS guidance and provided its full-year 2026 guidance. The company has revised its full-year 2025 revenue guidance to approximately $62.0 billion and provided a full-year 2026 revenue guidance range of $59.5 to $62.5 billion.
In terms of adjusted SG&A expenses, Pfizer anticipates full-year 2026 expenses to be in the range of $12.5 to $13.5 billion, reflecting ongoing progress with its cost realignment program. Additionally, the company expects full-year 2026 adjusted R&D expenses to be in the range of $10.5 to $11.5 billion, reflecting continued focus on prioritization in key therapeutic areas.
For full-year 2026 adjusted diluted EPS, Pfizer anticipates a range of $2.80 to $3.00, primarily reflecting expected revenues, anticipated stable gross and operating margins versus full-year 2025 guidance, and an anticipated higher tax rate on adjusted income compared to full-year 2025 guidance.
A comparison of Pfizer’s 2025 financial guidance to its 2026 financial guidance shows that while the 2025 revenue was expected to be approximately $62.0 billion, the 2026 revenue guidance ranges from $59.5 to $62.5 billion. Additionally, the adjusted SG&A expenses for 2025 were estimated to be in the range of $13.1 to $14.1 billion, whereas for 2026, they are projected to be between $12.5 and $13.5 billion. Similarly, the adjusted R&D expenses for 2025 were anticipated to be in the range of $10.0 to $11.0 billion, and for 2026, they are expected to be between $10.5 and $11.5 billion. The effective tax rate on adjusted income is also forecasted to increase from approximately 11% in 2025 to around 15% in 2026. Lastly, the adjusted diluted EPS for 2025 was projected to be in the range of $3.00 to $3.15, while for 2026, it is expected to be between $2.80 and $3.00.
Pfizer’s CEO commented, "2025 was a year of strong execution and strategic progress for Pfizer. We’ve strengthened our foundation, advanced our R&D pipeline, and positioned our company for sustainable growth in the post-loe period. As we move into 2026, we’re focused on serving patients with innovative medicines and vaccines while creating long-term value for our shareholders."
Pfizer will host a live conference call and webcast to further discuss the full-year 2026 financial guidance. Today the company's shares have moved -4.86% to a price of $25.145. For more information, read the company's full 8-K submission here.
