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Jun 30, 2021
Bristol-Myers Squibb Q2 2021 Earnings Report
Reported strong second-quarter results, driven by robust product sales, pipeline advancement, and strong clinical and operational performance.
Key Takeaways
Bristol Myers Squibb reported strong second-quarter results with revenues of $11.7 billion, a 16% increase year-over-year. The company achieved significant regulatory and clinical milestones, and delivered strong commercial performance, including Opdivo's return to growth.
Second quarter revenues reached $11.7 billion, a 16% increase year-over-year, or 13% when adjusted for foreign exchange.
Earnings per share (EPS) were reported at $0.47, with non-GAAP EPS at $1.93.
Strong commercial performance was achieved, including Opdivo's return to growth and momentum across the new product portfolio.
The company adjusted GAAP and reaffirmed non-GAAP EPS guidance for 2021.
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 2021 GAAP EPS guidance range of $3.18 - $3.38 to $2.77 - $2.97 and reaffirming its non-GAAP EPS guidance range of $7.35 - $7.55. Both GAAP and non-GAAP guidance assume current exchange rates.
Positive Outlook
- Worldwide revenues increasing in the high-single digits.
- Gross margin as a percentage of revenue is expected to be approximately 79% for GAAP and approximately 80% for non-GAAP.
- Marketing, selling and administrative expenses to be in-line with 2020 levels for GAAP and increasing in the low-single digits for non-GAAP.
- Research and development expenses decreasing in the low-single digits for GAAP and increasing in the mid-single digits for non-GAAP.
- An effective tax rate of approximately 23% for GAAP and approximately 16% for non-GAAP.
Revenue & Expenses
Visualization of income flow from segment revenue to net income