Healthcare Just Beat Almost Everyone: 23 of 24 Firms Topped Estimates

Healthcare was the calm corner of a brutal week. While the broader market plunged, a new earnings scorecard published on Saturday, November 7 shows 23 of the 24 healthcare companies that reported this week beat earnings-per-share estimates — a 95.8% hit rate that few sectors can match this season.

What happened

Of the 60 healthcare companies tracked in the scorecard, 24 reported quarterly results this week. Twenty-three beat EPS estimates and only one missed. Twenty companies also beat revenue estimates, 21 grew earnings from a year earlier, and 18 grew revenue year over year, according to the Seeking Alpha earnings scorecard.

The State Street Health Care Select Sector SPDR ETF (XLV) stayed roughly flat during the week even as broader markets fell sharply. Year to date, healthcare has gained more than 19%, compared with about 7% for the S&P 500 — a gap that helps explain why investors kept returning to the sector while technology and AI-linked stocks sold off.

The big names behind the numbers

Pfizer reported adjusted earnings of $0.87 per share on revenue of $16.58 billion, ahead of Wall Street expectations. Pfizer also raised its full-year guidance, lifting its revenue outlook to $62 billion to $64 billion and its adjusted EPS outlook to $2.95 to $3.05, and confirmed a new chief financial officer. Demand for its COVID products was softer, but the beat and the guidance raise were the story investors focused on.

Moderna posted earnings of $0.38 per share on revenue of $1.3 billion, beating expectations and lifting its full-year growth outlook, helped by higher COVID vaccine sales in overseas markets. Its planned cancer vaccine launch remains subject to regulatory approval, so that part of the story is still ahead.

Viatris was the mixed print in the group. Earnings rose 6% from a year earlier to $0.71 per share and the company raised full-year guidance, but revenue was flat at about $3.7 billion and missed the consensus estimate, as generics sales fell for the first time this year.

Why it's blowing up

The timing is what made the scorecard go viral in finance circles on Saturday. This was the same week the Nasdaq suffered one of its worst days since April 2025, Japan's Nikkei fell into a bear market, and volatility spiked. Against that backdrop, a sector where almost every reporter beat estimates — and two of the biggest names raised guidance — stood out as the exception, not the rule.

Healthcare's year-to-date lead tells the longer story too. A gain of more than 19% against the S&P 500's roughly 7% means the sector was already outperforming before this week; the earnings results gave investors a fundamental reason, beyond defensiveness, for that lead to hold.

Key facts

• 24 healthcare companies reported this week out of 60 tracked; 23 beat EPS estimates (95.8%).
• 20 of the 24 beat revenue estimates; earnings grew year over year at 21 firms and revenue grew at 18.
• Pfizer: $0.87 EPS on $16.58 billion in revenue, with full-year revenue guidance raised to $62–$64 billion.
• Moderna: $0.38 EPS on $1.3 billion in revenue, with its full-year growth outlook lifted.
• Viatris: $0.71 EPS, up 6% year over year, guidance raised, but revenue flat at $3.7 billion and below consensus.
• Healthcare is up more than 19% year to date versus about 7% for the S&P 500, and its main sector ETF was flat in a down week.

What's next

Earnings season is drawing to a close for the sector. The scorecard notes only one major healthcare name still due to report next week: Hims & Hers Health. Beyond that, the questions are whether Pfizer's raised guidance holds as COVID product demand fades, whether Moderna's outlook lift survives regulatory timing on its cancer vaccine, and whether healthcare can keep its year-to-date lead if the broader market stabilises. This post reports what happened and how markets reacted; it is not a recommendation to buy, sell, or hold any stock.

Sources

Seeking Alpha — Earnings Scorecard: 96% healthcare firms post EPS wins this week
TradingView — Earnings Scorecard: 96% healthcare firms post EPS wins this week
BigGo Finance — Pfizer Q3 Earnings Beat, Full-Year Guidance Raised

FAQ

How many healthcare companies beat earnings estimates this week?

23 of the 24 healthcare companies that reported this week beat EPS estimates, a 95.8% rate, and 20 of them also beat revenue estimates.

How did healthcare perform versus the broader market?

The main healthcare sector ETF was roughly flat during a week when broader markets plunged, and healthcare is up more than 19% year to date versus about 7% for the S&P 500.

What did Pfizer report?

Pfizer reported adjusted EPS of $0.87 on revenue of $16.58 billion, beating expectations, and raised full-year revenue guidance to $62 billion to $64 billion.

Which major healthcare company reports next?

Hims & Hers Health is the one major healthcare firm still due to report next week as the sector's earnings season winds down.