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Sep 30, 2024
Bristol-Myers Squibb Q3 2024 Earnings Report
Bristol-Myers Squibb's Q3 2024 performance reflected a focus on near-term execution and building a foundation for long-term sustainable growth.
Key Takeaways
Bristol Myers Squibb reported strong third-quarter results, driven by the Growth Portfolio and Eliquis, with revenues increasing by 8% to $11.9 billion. The company achieved U.S. approval of Cobenfy and is raising its 2024 revenue and Non-GAAP EPS guidance.
Third Quarter Revenues were $11.9 Billion, increasing 8% (+10% Adjusting for Foreign Exchange).
Growth Portfolio Revenues were $5.8 Billion, increasing 18% (+20% Adjusting for Foreign Exchange).
GAAP EPS was $0.60 and Non-GAAP EPS was $1.80; Includes Net Impact of $(0.09) Per Share for GAAP EPS and Non-GAAP EPS Due to Acquired IPRD Charges and Licensing Income.
Achieved U.S. Approval of Cobenfy, the First New Pharmacological Approach to Treat Schizophrenia in Decades.
Revenue by Geographic Location
Forward Guidance
Bristol Myers Squibb is raising its 2024 line-item guidance.
Positive Outlook
- Total Revenues ~5% increase
- Total Revenues (excl. F/X) ~6% increase
- Gross Margin % Between ~74.5% and ~75%
- Operating Expenses ~4% to ~5% increase
- Diluted EPS $0.75 - $0.95
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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