BMS Q3 Revenue Up 7% to $13.1B; Raises Revenue Guidance but Cuts EPS Outlook
BMY sits 46% above its 52-week low of $42.52.
Summary
Bristol Myers Squibb grew Q3 revenue 7% to $13.1B and raised its full-year revenue outlook, but cut non-GAAP EPS guidance to $6.35-$6.55 as $1.6B of acquired IPRD charges and a 360bp gross-margin decline weighed on earnings.
Key Events · Earnings and Guidance · BMY
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Q3 Revenue Grows 7% to $13.1B
Total revenues rose to $13.069B from $12.222B, with Growth Portfolio up 12% to $7.662B and Legacy Portfolio up 1% to $5.415B.
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Revenue Guidance Raised, EPS Cut
FY2026 revenue guidance lifted to $49.75-$50.25B from ~$49.0-$50.0B, but non-GAAP EPS guidance cut to $6.35-$6.55 from $6.75-$7.00 on a $(0.60) Acquired IPRD and licensing impact.
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IPRD Charges and Margin Pressure
Q3 Acquired IPRD charges were $1.558B, up 146% from $633M, costing $(0.58) per share; GAAP gross margin fell to 68.3% from 71.9% on product mix and a one-time contract termination charge.
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Q3 EPS Down 17% Non-GAAP
GAAP EPS was $1.05 versus $1.08; non-GAAP EPS was $1.35 versus $1.63, both including the $(0.58) net IPRD and licensing impact.
Analysis · BMY · Life Sciences
Revenue is running ahead of prior guidance, with the full-year range moving up to $49.75-$50.25B from ~$49.0-$50.0B on broad Growth Portfolio momentum and Eliquis still growing 25%. The bottom line tells a different story: non-GAAP EPS guidance drops to $6.35-$6.55 from $6.75-$7.00, as $1.558B of Acquired IPRD charges in Q3 alone cost $(0.58) per share and gross margin fell to 68.3% from 71.9% on product mix. Q3 non-GAAP EPS of $1.35 was down 17% year over year. The quarter thus pairs top-line strength with heavier business-development spending, leaving investors to weigh whether the licensing outlays buy future growth or merely dilute near-term earnings.
How filings like this one have moved
In the 30 days to Oct 29, 2026, 31% of the 1656 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.01%. 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 $61.94 on NYSE in the Life Sciences sector, with a market capitalization of approximately $123.7B. 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.