Loading...
•
Dec 31, 2023
Bristol-Myers Squibb Q4 2023 Earnings Report
Reported a slight revenue increase driven by in-line and new products, offset by Revlimid decline, and strengthened growth profile through strategic transactions.
Key Takeaways
Bristol Myers Squibb reported Q4 2023 revenues of $11.5 billion, a 1% increase year-over-year. GAAP EPS was $0.87, while non-GAAP EPS reached $1.70. The company's in-line and new product portfolio saw a 9% revenue increase, reaching $9.8 billion. Strategic acquisitions and collaborations, including Karuna Therapeutics, RayzeBio, and SystImmune, were announced to bolster long-term growth.
Fourth-quarter revenues reached $11.5 billion, with GAAP EPS at $0.87 and non-GAAP EPS at $1.70.
In-line and new product portfolio revenues increased by 9% to $9.8 billion.
Strategic transactions, including acquisitions of Karuna Therapeutics and RayzeBio, and a collaboration with SystImmune, were initiated.
2024 guidance forecasts low single-digit revenue growth and a non-GAAP EPS range of $7.10 to $7.40.
Bristol-Myers Squibb
Bristol-Myers Squibb
Bristol-Myers Squibb Revenue by Segment
Bristol-Myers Squibb Revenue by Geographic Location
Revenue by Segment
Net Product Sales Revenue
CapyFin.comAlliance and Other Revenues Revenue
CapyFin.comRevenue by Geographic Location
U.S. Revenue
CapyFin.comInternational Revenue
CapyFin.com Forward Guidance
Bristol Myers Squibb anticipates low single-digit revenue growth and a non-GAAP EPS range of $7.10 to $7.40 for 2024.
Positive Outlook
- Total 2024 revenues are expected to increase by low single-digits.
- Excluding foreign exchange, total revenues are expected to increase by low single-digits.
- Non-GAAP Gross margin is expected to be approximately 74%.
- Other Income/(Expense) is expected to be approximately $250 million.
- An effective tax rate of approximately 17.5%.
Challenges Ahead
- The 2024 financial guidance excludes the impact of any potential future strategic acquisitions, including the announced planned acquisitions of RayzeBio and Karuna.
- Guidance excludes divestitures, specified items, and the impact of future Acquired IPRD charges.
- The company is not, without unreasonable effort, able to reliably predict the impact of accelerated depreciation and impairment charges.
- The company is not, without unreasonable effort, able to reliably predict legal and other settlements.
- The company is not, without unreasonable effort, able to reliably predict gains and losses from equity investments and other adjustments.
Revenue & Expenses
Visualization of income flow from segment revenue to net income