https://assets.capyfin.com/instruments/678fdc13234e27009c5d5863.png avatar
Bristol-Myers Squibb
🇺🇸 NYSE:BMY
View Company
OverviewEarningsDividends
•
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.

Total Revenue
$11.5B
Previous year: $11.4B
+0.6%
EPS
$1.7
Previous year: $1.82
-6.6%
Gross Profit
$8.73B
Previous year: $8.81B
-0.9%
Cash and Equivalents
$11.5B
Previous year: $9.12B
+25.7%
Free Cash Flow
$3.92B
Previous year: $2.96B
+32.5%
Total Assets
$12.6B
Previous year: $96.8B
-86.9%

Bristol-Myers Squibb

Bristol-Myers Squibb

Bristol-Myers Squibb Revenue by Segment

Bristol-Myers Squibb Revenue by Geographic Location

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

Company Overview

Full financial data and analysis

View Bristol-Myers Squibb