Biopharmaceutical company Bristol Myers Squibb (NYSE: BMY) will be announcing earnings results tomorrow morning. Here’s what investors should know.
Bristol-Myers Squibb beat analysts’ revenue expectations by 6.6% last quarter, reporting revenues of $12.34 billion, up 7.5% year on year. It was a mixed quarter for the company, with a solid beat of analysts’ EPS estimates but a significant miss of analysts’ full-year EPS guidance estimates.
Is Bristol-Myers Squibb a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Bristol-Myers Squibb’s revenue to decline 8.9% year on year to $10.81 billion, a reversal from the 4.7% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.50 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Bristol-Myers Squibb has missed Wall Street’s revenue estimates twice over the last two years.
Looking at Bristol-Myers Squibb’s peers in the pharmaceuticals segment, only Johnson & Johnson has reported results so far. It beat analysts’ revenue estimates by 1.5%, delivering year-on-year sales growth of 2.4%. The stock price was unchanged following the results.
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