Slide 1: Second Quarter 2018 Earnings Teleconference
Second Quarter 2018 Earnings Teleconference July 31, 2018
Slide 2: Introduction
Introduction Chuck Triano Senior Vice President, Investor Relations Second Quarter 2018 Earnings
Slide 3: Forward-Looking Statements and Non-GAAP Financial Information
Forward-Looking Statements and Non-GAAP Financial Information Our discussions during this conference call will include forward-looking statements about, among other things, our anticipated future operating and financial performance, business plans and prospects, in-line products and product candid
Slide 4: Opening Remarks
Opening Remarks Ian Read Chairman and Chief Executive Officer Second Quarter 2018 Earnings
Slide 5: CEO Perspectives
CEO Perspectives Innovative Health (IH) business posted another solid quarter, growing Revenues by 5% operationally in Q2 2018 compared to Q2 2017 IH growth was driven by strong performances from Ibrance, Xtandi, Xeljanz and Eliquis Essential Health (EH) business saw strong growth this quarter
Slide 6: Updates and Next Steps for Select 'Up to 15 in 5' Cohort
Updates and Next Steps for Select ‘Up to 15 in 5’ Cohort Oncology Inflammation & Immunology Xtandi® PROSPER – Approved July 2018 Xeljanz® UC (US) – Approved May 2018 Next Step: Launch ongoing Next Step: 5mg and 10mg launch ongoing Dacomitinib – Priority Review Granted Xeljanz® UC (EU) – Encouraging
Slide 7: Financial Review
Financial Review Frank D’Amelio Executive Vice President & Chief Financial Officer Second Quarter 2018 Earnings
Slide 8: Income Statement Highlights
Income Statement Highlights ($ Millions, Except Per Share Amounts and Percentages) Second Quarter 2018 2017 Change Revenues $13,466 $12,896 4% Reported Net Income(1) 3,872 3,073 26% Reported Diluted EPS(1) 0.65 0.51 28% Adjusted Income(1) 4,827 4,063 19% Adjusted Diluted EPS(1) 0.81 0.67 21% Q2 2018
Slide 9: Impact of Foreign Exchange on Revenues and Select Adjusted Income Components
Impact of Foreign Exchange on Revenues and Select Adjusted Income(1) Components ($ Millions, Except Percentages) Favorable / (Unfavorable) Second Quarter 2018 2017 FX Impact Revenues $13,466 $12,896 $377 3% Adjusted Cost of Sales(1) 2,876 2,592 (126) (5%) COS as a Percentage of Revenues 21.4% 20.1%
Slide 10: 2018 Financial Guidance
2018 Financial Guidance(1) $53.0 to $55.0 billion Revenues (previously $53.5 to $55.5 billion) Adjusted Cost of Sales(1) as a Percentage of Revenues 20.5% to 21.5% Adjusted SI&A Expenses(1) $14.0 to $15.0 billion $7.7 to $8.1 billion Adjusted R&D Expenses(1) (previously $7.4 to $7.9 billion) Approxi
Slide 11: Key Takeaways
Key Takeaways Delivered strong Q2 2018 financial results, with 2% operational Revenue growth and Adjusted diluted EPS(1) up 21% compared to the same period last year Raised 2018 financial guidance for Adjusted diluted EPS(1) by $0.05 to a range of $2.95 to $3.05; lowered midpoint of Revenue guidance
Slide 12: Second Quarter 2018 Earnings Teleconference Q&A Session
Second Quarter 2018 Earnings Teleconference Q&A Session July 31, 2018
Slide 13: Footnotes
Footnotes Financial Definitions Footnotes (1) Reported net income is defined as net income attributable to Pfizer Inc. in accordance with U.S. GAAP. Reported diluted earnings per share (EPS) is defined as reported diluted EPS attributable to Pfizer Inc. common shareholders in accordance with U.S. GA