-=Pfizer (PFE) reported earnings on Tue 29 Jan 2019 (b/o)

Pfizer beats by $0.01, reports revs in-line; guides FY19 below consensus

• Reports Q4 (Dec) earnings of $0.64 per share, excluding non-recurring items, $0.01 better than the S&P Capital IQ Consensus of $0.63; revenues rose 2.0% year/year to $13.98 bln vs the $13.92 bln S&P Capital IQ Consensus; operational growth of $657 million, or 5%, partially offset by the unfavorable impact of foreign exchange of $383 million, or 3%.
• Innovative Health revenues increased 10% operationally, primarily driven by continued growth from key brands including: Ibrance, Eliquis Xeljanz offset by Viagra and Enbrel Essential Health revenues declined 3% operationally.
• Co issues downside guidance for FY19, sees EPS of $2.82-2.92, excluding non-recurring items, vs. $3.04 S&P Capital IQ Consensus; sees FY19 revs of $52-54 bln vs. $54.31 bln S&P Capital IQ Consensus. Midpoints of these ranges imply essentially flat operational performance compared to 2018 excluding the unfavorable impact of foreign exchange and net gains on equity investments from 2018 results. Financial guidance for Adjusted diluted EPS reflects anticipated share repurchases totaling ~$9 billion in 2019. Dilution related to share-based employee compensation programs is currently expected to offset the reduction in shares associated with these share repurchases by ~half.