Bristol Myers Squibb Crushes Q2, Lifts 2026 Guidance Far Above Consensus
BMY sits 50% above its 52-week low of $42.52.
Summary
Bristol Myers Squibb reported Q2 2026 revenue of $12.97B and non-GAAP EPS of $2.04, beating consensus and significantly raising full-year guidance. The Growth Portfolio grew 15%, and the company lifted its 2026 revenue and EPS outlook well above Street estimates.
Key Events · Earnings and Guidance · BMY
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Q2 Revenue and EPS Beat
Total revenues of $12.97B grew 6% YoY (5% ex-FX), with non-GAAP EPS of $2.04, up 40% from $1.46 a year ago, driven by 15% Growth Portfolio expansion.
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Full-Year Guidance Raised Significantly
2026 revenue guidance increased to ~$49.0B-$50.0B from ~$46.0B-$47.5B, and non-GAAP EPS raised to $6.75-$7.00 from $6.05-$6.35, reflecting broad-based momentum.
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Growth Portfolio Momentum
Growth Portfolio revenues reached $7.6B, up 15% YoY, led by Opdivo Qvantig (>200% growth), Reblozyl (+29%), Camzyos (+60%), Breyanzi (+41%), and Opdualag (+23%).
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Eliquis Guidance Boosted
Worldwide Eliquis revenue growth guidance raised to 20%-25% from 10%-15%, driven by continued U.S. demand and market share gains.
Analysis · BMY · Life Sciences
A massive Q2 beat and a full-year outlook raised well above consensus underscore Bristol Myers Squibb's accelerating turnaround. Revenue reached $12.97B, a 6% year-over-year increase, fueled by 15% growth in the Growth Portfolio. Non-GAAP EPS surged 40% to $2.04 from $1.46 a year ago. The company now sees 2026 revenue at ~$49.0B-$50.0B, up from ~$46.0B-$47.5B, and non-GAAP EPS at $6.75-$7.00, up from $6.05-$6.35 — both comfortably ahead of Street expectations. An expanding share of total revenue is coming from the Growth Portfolio, where key drugs like Reblozyl, Camzyos, and Breyanzi posted strong gains. Pipeline momentum continues with FDA acceptance of filings for Reblozyl and mezigdomide. Trading near its 52-week high, the stock's turnaround narrative is reinforced as new launches increasingly offset legacy patent cliffs.
At the time of this filing, BMY was trading at $63.94 on NYSE in the Life Sciences sector, with a market capitalization of approximately $128.9B. The 52-week trading range was $42.52 to $64.97. This filing was assessed with positive market sentiment and an importance score of 9 out of 10.