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Mar 31, 2020
Bristol-Myers Squibb Q1 2020 Earnings Report
Reported strong sales, robust operating performance and significant advancement of the company’s pipeline.
Key Takeaways
Bristol Myers Squibb reported first quarter revenues of $10.8 billion, an increase of 82% on a reported basis and non-GAAP EPS of $1.72. The increase was driven primarily by the impact of the Celgene Acquisition. The quarter benefitted by approximately $500 million due to COVID-19 related buying patterns.
Reports First Quarter Revenues of $10.8 Billion, an Increase of 82%; On a Pro Forma Basis, Revenue Increase of 13% or 8% Excluding Impact of COVID-19
Posts GAAP Loss Per Share of $0.34 and Non-GAAP EPS of $1.72
Achieves Multiple Significant Clinical and Regulatory Milestones Across Portfolio
Continues Progress on Integration Initiatives; $2.5B Synergy Target Remains on Track
Bristol-Myers Squibb
Bristol-Myers Squibb
Bristol-Myers Squibb Revenue by Segment
Revenue by Segment
Net Product Sales Revenue
CapyFin.comAlliance and Other Revenues Revenue
CapyFin.com Forward Guidance
Bristol Myers Squibb is updating its 2020 GAAP EPS guidance range from $0.75 - $0.95 to $0.37 to $0.57. In addition, the company is affirming its 2020 non-GAAP EPS guidance range of $6.00 to $6.20 and 2021 non-GAAP EPS guidance range of $7.15 to $7.45.
Positive Outlook
- Mid-April foreign exchange and interest rates apply
- A reduction in new-to-brand prescriptions, and on physician administered product demand during the second quarter sees recovery during the third quarter and fully recovered in the fourth quarter
- Products that saw significant advanced buying at the end of the first quarter will see that inventory work-down during the rest of the year, mostly in the second quarter and to a lesser degree in third and fourth quarters
- All clinical trial activities are planned to resume by the end of the year where local country restrictions have been lifted
Revenue & Expenses
Visualization of income flow from segment revenue to net income