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Dec 31, 2020
Bristol-Myers Squibb Q4 2020 Earnings Report
Reported solid operational and financial results, and laid a strong foundation for the future.
Key Takeaways
Bristol Myers Squibb reported Q4 2020 revenues of $11.1 billion, a 39% increase, and a GAAP loss per share of $4.45, with non-GAAP EPS of $1.46. The company completed the acquisition of MyoKardia and announced a debt tender offer. They also delivered positive results from a trial evaluating Deucravacritinib for plaque psoriasis and announced a licensing agreement with The Rockefeller University for a COVID-19 treatment.
Fourth Quarter revenues reached $11.1 billion, marking a 39% increase.
The company posted a Fourth Quarter GAAP loss per share of $4.45 and a non-GAAP EPS of $1.46.
Bristol Myers Squibb completed the acquisition of MyoKardia, expanding its cardiovascular franchise.
A debt tender offer for up to $4.0 billion was announced.
Revenue by Geographic Location
Forward Guidance
Bristol Myers Squibb is providing 2021 GAAP EPS guidance in the range of $3.12-$3.32 and is increasing its non-GAAP EPS guidance range from $7.15 - $7.45 to $7.35 - $7.55. They expect worldwide revenues increasing in the high-single digits.
Positive Outlook
- Worldwide revenues increasing in the high-single digits.
- Gross margin as a percentage of revenue to be approximately 80.5%.
- Marketing, selling and administrative expenses to be in-line with 2020 levels for GAAP and increasing in the low-single digit range for non-GAAP.
- Research and development expenses decreasing in the high-single digits for GAAP and increasing in the mid-single digits for non-GAAP.
- An effective tax rate of approximately 22% for GAAP and approximately 16% for non-GAAP.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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