Pfizer (PFE) Earnings: Q3 2026 Results and Next Report Date

The quarter ended September 27, 2026 and Pfizer published the results on November 3, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison. Pfizer reports EPS two ways: GAAP, under the accounting rules every US filer follows, and Adjusted, which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• Pfizer's international subsidiaries run on a fiscal year ending November 30, so the Q3 2026 figures include them for the three months ended August 23, 2026 and U.S. subsidiaries for the three months ended September 27, 2026.
• Both GAAP and Adjusted results include a $650 million acquired in-process R&D charge for the Innovent Biologics agreement in Q3 2026, and a $1.35 billion charge for the 3SBio agreement in Q3 2025. Pfizer's Adjusted measures do not exclude acquired IPR&D.

Source: Pfizer Q3 2026 results, November 3, 2026. Also in the Form 10-Q for the quarter ended September 27, 2026. Figures as reported; checked against the release on November 10, 2026.

How Pfizer splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• Pfizer's Global Biopharmaceuticals Business (Biopharma) revenue was $16.3 billion in Q3 2026, flat on $16.3 billion in Q3 2025, 98% of total revenue.
• Pfizer's Pfizer CentreOne revenue was $300 million in Q3 2026, down 13% from $344 million in Q3 2025, 2% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

In its Q3 2026 release, Pfizer said:

“Raises full-year 2026 Revenue guidance (2) by $1.5 billion at the midpoint to a range of $62.0 to $64.0 billion from $60.5 to $62.5 billion previously.”

“Raises and narrows full-year 2026 Adjusted (3) diluted EPS guidance (2) to a range of $2.95 to $3.05 from $2.80 to $3.00 previously.”

“Includes a one-time $650 million Acquired In-Process R&D charge related to the in-licensing and collaboration agreement with Innovent Biologics, Inc. recorded in the third quarter of 2026 with an unfavorable impact of approximately $0.10.”

“Current financial guidance does not anticipate any share repurchases in 2026.”

Source: Pfizer Q3 2026 release, Nov 3, 2026.

This is the company's own guidance as of Nov 3, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the PFE forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

Revenues and GAAP (Reported) diluted EPS, each as first reported in that quarter's release. The losses per share in Q4 2025 and Q2 2026 are Pfizer's own reported figures.

Pfizer's next report is expected around February 2, 2027, a date estimated from its reporting history that the company has not yet confirmed. This page will show Q3 2026 until those results are out and have been checked against the release.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Nov 3, 2026

Pfizer reports one reportable segment, Biopharma, which brought in $16,283 million of Pfizer's $16,583 million in Q3 2026 revenues. Pfizer CentreOne, its contract development and manufacturing organization, added $300 million. Inside Biopharma, Primary Care was $6,971 million, Oncology $4,327 million, Specialty Care $3,349 million and Hospital and Biosimilars $1,635 million. U.S. revenues were $10,602 million and international revenues $5,981 million. (Pfizer Q3 2026 release, Nov 3, 2026; Pfizer Form 10-K, 2025, Feb 26, 2026)

Pfizer's revenues fell $71 million from a year earlier, which Pfizer called relatively flat. The COVID-19 products drove the decline: Paxlovid fell $771 million, or 63% operationally, on lower COVID-19 infections, and Comirnaty fell $339 million, or 29% operationally, partly on narrower U.S. vaccine recommendations. Excluding Comirnaty and Paxlovid, revenues grew 7% operationally. The Prevnar family fell $180 million, or 10% operationally, on lower U.S. vaccination rates. (Pfizer Q3 2026 release, Nov 3, 2026)

Pfizer's gains came mainly from Eliquis (up $513 million, or 25%, operationally), Padcev (up $255 million, or 55%), the Vyndaqel family (up $193 million, or 12%), Nurtec ODT/Vydura (up $135 million, or 33%) and Lorbrena (up $114 million, or 43%). Pfizer's launched and acquired products, a group that includes Padcev, Adcetris, Tukysa, Tivdak, Nurtec ODT/Vydura, Prevnar 20 (Pediatrics), Abrysvo, Elrexfio and Lorbrena, grew 32% operationally. (Pfizer Q3 2026 release, Nov 3, 2026)

Eliquis was Pfizer's largest product at $2,523 million, with U.S. revenue up 40% to $1,808 million. Pfizer attributed the rise mainly to higher U.S. net price from lower rebates and channel mix. Pfizer develops and sells Eliquis with Bristol-Myers Squibb and shares profits and losses equally except in certain countries. The drug's Medicare Maximum Fair Price under the Inflation Reduction Act took effect on January 1, 2026; negotiated prices for Ibrance and Xtandi take effect in 2027. (Pfizer Q3 2026 release, Nov 3, 2026; Pfizer Form 10-K, 2025, Feb 26, 2026; Pfizer Form 10-Q, Q3 2026, Nov 3, 2026)

Pfizer's Q3 2026 revenues were made up of product revenues of $13,255 million, alliance revenues of $2,851 million and royalty revenues of $477 million. Sales are concentrated in U.S. wholesalers: in 2025 McKesson accounted for 25% of Pfizer's total revenues, Cencora 16% and Cardinal Health 13%. (Pfizer Q3 2026 release, Nov 3, 2026; Pfizer Form 10-K, 2025, Feb 26, 2026)

Pfizer's Reported (GAAP) diluted EPS was $0.56 in Q3 2026 and its Adjusted diluted EPS $0.87. Adjusted income of $4,985 million adds back, before tax, $1,128 million of amortization of intangible assets, $364 million of acquisition-related items and $893 million of restructuring and related charges, mostly employee termination costs from Pfizer's cost realignment program, less a $677 million tax effect on those items. (Pfizer Q3 2026 release, Nov 3, 2026)

Pfizer's acquired in-process R&D expense was $669 million, including the $650 million Innovent Biologics charge, against $1,390 million a year earlier, when it included a $1.35 billion charge for 3SBio. Pfizer keeps these charges in its Adjusted results. R&D expenses rose 18% operationally to $3,016 million, mainly on spending for oncology and obesity candidates. The effective tax rate on Adjusted income was 14.0%, against 7.9% a year earlier. (Pfizer Q3 2026 release, Nov 3, 2026)

Pfizer's diluted weighted-average shares were 5,751 million in Q3 2026, against 5,714 million a year earlier. Pfizer has completed no share repurchases in 2026 and says it wants to de-lever first; it paid $7.3 billion of dividends, or $1.29 per share, in the first nine months of 2026, and has $3.3 billion of repurchase authorization remaining. (Pfizer Q3 2026 release, Nov 3, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

Pfizer publishes a full-year outlook in its release. With Q3 2026 it raised 2026 revenue guidance by $1.5 billion at the midpoint to $62.0 to $64.0 billion, and raised and narrowed Adjusted diluted EPS guidance to $2.95 to $3.05 from $2.80 to $3.00. The EPS range absorbs the $650 million Innovent charge, which Pfizer puts at about $0.10 a share. (Pfizer Q3 2026 release, Nov 3, 2026)

Pfizer's other guidance lines are Adjusted SI&A expenses of $12.5 to $13.5 billion, Adjusted R&D expenses of $10.8 to $11.8 billion and an effective tax rate on Adjusted income of approximately 15.0%. The outlook assumes about 5.74 billion diluted shares, no share repurchases and an unfavorable revenue impact of approximately $1.1 billion from generic and biosimilar competition. Pfizer gives no GAAP guidance other than revenues. (Pfizer Q3 2026 release, Nov 3, 2026)

A consensus figure is the average of the models published by the analysts who cover Pfizer, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones Pfizer's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning PFE is on is PFE a buy or a sell?, what analysts expect next is on the PFE forecast, and what the company does is on the Pfizer (PFE) stock page.

Every number on this page can be traced to a document Pfizer published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.