Bristol-Myers Squibb Q3 2024 Earnings Report
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.
Bristol-Myers Squibb
Bristol-Myers Squibb
Bristol-Myers Squibb Revenue by Segment
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