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Sep 30, 2021
Bristol-Myers Squibb Q3 2021 Earnings Report
Reported solid sales, strong commercial execution, and continued pipeline progress
Key Takeaways
Bristol Myers Squibb reported a strong third quarter in 2021, marked by a 10% increase in revenues to $11.6 billion. The company saw GAAP EPS of $0.69 and non-GAAP EPS of $2.00. Advances in the product pipeline included FDA Priority Review for relatlimab and nivolumab combination.
Third quarter revenues reached $11.6 billion, a 10% increase year-over-year.
GAAP earnings per share were reported at $0.69, while non-GAAP EPS stood at $2.00.
The FDA granted priority review for the fixed-dose combination of relatlimab and nivolumab for treating unresectable or metastatic melanoma.
The company updated its GAAP EPS guidance range to $2.68 - $2.83 and its non-GAAP EPS guidance range to $7.40 - $7.55 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 $2.77 - $2.97 to $2.68 - $2.83 and its non-GAAP EPS guidance range of $7.35 - $7.55 to $7.40 - $7.55.
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 increasing in the low-single digits for GAAP and increasing in the mid-single digits for non-GAAP.
- An effective tax rate of approximately 26% for GAAP and approximately 16.5% for non-GAAP.
Revenue & Expenses
Visualization of income flow from segment revenue to net income