Pfizer Reports Lower Q3 Earnings, Names New CFO
The drugmaker's third-quarter profit fell from a year earlier while its board appointed Cecile Guegan as chief financial officer effective November 1.
Updated on Nov. 3, 2026 in Corporate Finance
Live Poll
Do you trust large pharmaceutical companies to keep medicine prices fair for patients?
Pfizer reported third-quarter earnings of $3.242 billion, or $0.56 per share, down from $3.541 billion, or $0.62 per share, a year earlier. The company also said its board unanimously appointed Cecile Guegan as chief financial officer and executive vice president, effective November 1.
Why it matters
The earnings decline and leadership change come as the drugmaker reshapes its finance team and reports softer results. Guegan has been interim chief financial officer since August 16 and previously oversaw financial operations and reporting for Pfizer's biopharmaceutical business.
Adjusted third-quarter earnings were $4.985 billion ($0.87 per share), while revenue slipped 0.4% to $16.583 billion from $16.654 billion a year earlier. The extraction does not state the reasons behind the revenue decline or the company's forward outlook.
The players
Pfizer
Pfizer is a major U.S. pharmaceutical company that develops and sells medicines and vaccines worldwide.
Cecile Guegan
Cecile Guegan is Pfizer's chief financial officer and executive vice president, previously overseeing the financial operations and reporting of the company's biopharmaceutical business.
The details
Pfizer's board made the appointment unanimously, naming Guegan chief financial officer and executive vice president effective November 1. Guegan has served as interim chief financial officer since August 16 and will oversee the company's financial operations, execution, and strategic planning. Pfizer shares rose 0.29% to $30.80 in premarket trading.
Timeline
August 16: Guegan began serving as interim chief financial officer.
Tuesday: Pfizer announced the CFO appointment and reported earnings.
November 1: Guegan's appointment as chief financial officer takes effect.
Earnings Trajectory
Pfizer's third-quarter net earnings fell from $3.541 billion to $3.242 billion year over year, and revenue slipped 0.4%. The company's own prior-year quarterly results serve as the baseline against which this quarter's decline is measured.
Investors tracking Pfizer will see the new CFO take over formal responsibility for financial reporting on November 1, after Guegan's interim tenure. The lower per-share earnings figure is the number shareholders will weigh alongside the adjusted results when assessing the stock.
The takeaway
Leadership continuity in the finance function can help a company manage reporting through periods of softer results. Readers following Pfizer should compare the reported and adjusted earnings figures, since they differ substantially.
What happens next
Guegan's appointment as chief financial officer takes effect November 1.
Further reading
For more on how companies manage their finances, see Corporate Finance.
Live Poll
Do you trust large pharmaceutical companies to keep medicine prices fair for patients?
