BMS Q3 Revenue Up 7% to $13.1B; Non-GAAP EPS Falls to $1.35 on Deal Charges
BMY sits 42% above its 52-week low of $42.52 on light trading volume (0.4× avg).
Summary
Bristol Myers Squibb grew Q3 revenue 7% to $13.1 billion on Eliquis and new-product demand, but non-GAAP EPS fell to $1.35 from $1.63 as $1.56 billion of acquired-IPRD charges and generic erosion of Pomalyst and Revlimid weighed on profit.
Key Events · Earnings and Guidance · BMY
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Q3 Revenue Grows 7% to $13.1B
Total revenues rose to $13,069 million from $12,222 million, with U.S. revenues up 9% to $9,074 million.
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EPS Falls on Deal Charges
GAAP diluted EPS was $1.05 vs $1.08; non-GAAP fell to $1.35 from $1.63 as Acquired IPRD charges rose to $1,558 million from $633 million, including $500 million to BioNTech and $775 million to Hengrui.
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Legacy Portfolio Generic Erosion
Pomalyst/Imnovid revenue fell 81% to $130 million and Revlimid 47% to $303 million, while Eliquis grew 25% to $4,690 million.
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Cash Flow and Net Debt
Nine-month operating cash flow was $8,678 million vs $12,182 million; net debt fell $4.1 billion to $29,918 million after $1.7 billion of debt repayment and $3.9 billion of dividends.
Analysis · BMY · Life Sciences
Top-line growth of 7% to $13.1 billion, powered by Eliquis (+25% to $4.69 billion) and the Growth Portfolio (+12%), masked a weaker bottom line: GAAP diluted EPS slipped to $1.05 from $1.08 and non-GAAP EPS dropped to $1.35 from $1.63. The culprit was largely one-time business development spend, with Acquired IPRD charges jumping to $1.56 billion from $633 million, including the $500 million BioNTech anniversary payment and $775 million for Hengrui. Meanwhile, the legacy patent cliff is now visible in the numbers: Pomalyst/Imnovid revenue collapsed 81% to $130 million and Revlimid fell 47% to $303 million as generics took hold. Nine-month GAAP EPS still rose to $3.98 from $2.93 on lower amortization and higher revenue. Cash generation weakened, with operating cash flow falling to $8.68 billion from $12.18 billion, but net debt still dropped $4.1 billion to $29.9 billion after debt repayment and $3.9 billion of dividends.
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In the 30 days to Oct 29, 2026, 30.9% of the 1649 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.02%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, BMY was trading at $60.20 on NYSE in the Life Sciences sector, with a market capitalization of approximately $123B. The 52-week trading range was $42.52 to $68.64. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.