Pfizer Raises Annual Forecast as Longtime Executive Takes CFO Role

Cecile Guegan, who spent the last twenty years climbing the ranks within the company’s finance division, assumed the role of chief financial officer this month. She had been operating in an interim capacity since August, following the departure of Dave Denton, who left the pharmaceutical firm to join Nike. Her appointment signals a shift toward continuity as the company navigates a period of aggressive cost-cutting.

Financial performance for the third quarter proved robust, with adjusted earnings hitting 87 cents per share against an expected 73 cents. Revenue reached $16.58 billion, comfortably outpacing the $15.87 billion forecast by analysts. Bolstered by these figures, management raised its annual revenue outlook to a range of $62 billion to $64 billion, up from the previous estimate of $60.5 billion to $62.5 billion. Adjusted profit projections have also climbed, now sitting between $2.95 and $3.05 per share.