Pfizer Raises 2026 Forecast and Names Guegan CFO

Pfizer raised its 2026 revenue forecast to $62 billion–$64 billion and named Cecile Guegan chief financial officer, as stronger sales of newer products helped lift its outlook. The company reported third-quarter revenue of $16.58 billion, while its revised profit forecast also moved higher.

Higher revenue and profit forecasts

The new revenue range compares with Pfizer’s previous forecast of $60.5 billion–$62.5 billion. Its lower bound is roughly flat or slightly below the $62.6 billion recorded in 2025. Pfizer said its strong performance so far this year contributed to the increase.

The company now expects adjusted full-year earnings of $2.95–$3.05 per share, up from its earlier range of $2.80–$3.00. The updated outlook includes a one-time $650 million charge, equivalent to a 10-cent-per-share impact, recorded in the third quarter under a licensing and collaboration agreement with Chinese cancer drugmaker Innovent Biologics.

Newer products offset weaker Covid sales

Third-quarter revenue was relatively flat year over year. Pfizer reported a $57 million operational decline, mainly because of lower Covid product sales, and a $15 million negative effect from foreign exchange. Growth in other medicines helped counter those pressures.

Sales of newly launched and acquired products rose 32% operationally. The group includes cancer drug Padcev, respiratory syncytial virus vaccine Abrysvo, pneumococcal vaccine Prevnar 20 and lung cancer drug Lorbrena.

Blood thinner Eliquis brought in $2.52 billion, up 25%, while Padcev generated $720 million. Pfizer’s Covid vaccine recorded $808 million in sales and antiviral Paxlovid $449 million; both products exceeded analysts’ expectations for the quarter, despite declining sales.

Guegan takes over finance leadership

Guegan, who has held several finance leadership roles at Pfizer over two decades, became CFO this month. She had served as interim CFO since August, when Dave Denton stepped down and left the company to take the same role at Nike.

Her appointment gives Pfizer an internal finance leader as it works to rebuild growth. The company is facing falling demand for Covid products and generic competition for major medicines. CEO Albert Bourla has pursued acquisitions and new cancer treatments, as well as a move into weight-loss treatments through Pfizer’s acquisition of Metsera.

Cost cuts and the next test

Pfizer expanded its multi-year cost-cutting programme in August to help offset the drop in Covid sales. It is targeting roughly $9.7 billion in net savings through 2029. The savings plan sits alongside its effort to grow revenue from newer and acquired products.

Net income for the third quarter was $3.24 billion, or 56 cents per share, compared with $3.54 billion, or 62 cents per share, in the same quarter of 2025. Excluding certain items, including restructuring charges and costs tied to intangible assets, adjusted earnings were 87 cents per share.

The next concrete measure of the revised outlook will be whether Pfizer can sustain growth in its newer products while Covid sales and competition from generic drugs continue to weigh on its business.