Bristol-Myers Squibb Q3 2020 Earnings Report
Key Takeaways
Bristol Myers Squibb reported a significant increase in third-quarter revenue, driven by the Celgene acquisition. The company's GAAP EPS was $0.82, and non-GAAP EPS was $1.63. They are also planning to acquire MyoKardia to strengthen cardiovascular franchise.
Third quarter revenues reached $10.5 billion, a 75% increase.
GAAP EPS was reported at $0.82, while non-GAAP EPS reached $1.63.
The company is planning the acquisition of MyoKardia to extend and strengthen the cardiovascular franchise.
Positive results were achieved from the POETYK-PSO-1 trial evaluating deucravacitinib for plaque psoriasis.
Bristol-Myers Squibb
Bristol-Myers Squibb
Bristol-Myers Squibb Revenue by Segment
Forward Guidance
Bristol Myers Squibb is increasing its 2020 GAAP EPS guidance range from ($0.06) - $0.09 to $0.47 - $0.57. In addition, the company is raising its 2020 non-GAAP EPS guidance range from $6.10 - $6.25 to $6.25 - $6.35 and reaffirming its 2021 non-GAAP EPS guidance range of $7.15 to $7.45.
Positive Outlook
- Revenue: $41.5B - $42.0B
- Gross margin as a percentage of revenue: Approximately 80%
- Marketing, selling, and administrative expense: Approximately $6.9B
- Research and development expense: Approximately $9.2B
- Effective tax rate: Approximately 16%
Revenue & Expenses
Visualization of income flow from segment revenue to net income