Bristol-Myers Beats Q3 Estimates, Raises Sales Outlook But Cuts Profit Guidance
BMY sits 42% above its 52-week low of $42.52.
Summary
Bristol-Myers beat on both lines for Q3 2026: adjusted EPS of $1.35 against a $1.17 consensus, and revenue up 7% to $13.07 billion versus $12.74 billion expected. The Growth Portfolio did the work, up 12% to $7.7 billion on Opdivo Qvantig, Breyanzi, Reblozyl, Camzyos and Opdualag, while the Legacy Portfolio grew just 1% to $5.4 billion as generic erosion offset Eliquis. Margins narrowed — adjusted gross margin fell to 68.4% from 72.9% — on product mix and a one-time contract termination charge. The guidance is mixed: they raised full-year revenue to $49.75-$50.25 billion from $49-$50 billion but cut adjusted EPS to $6.35-$6.55 from $6.75-$7, below the $6.54 consensus. On the call, management said AI is already cutting R&D timelines, targeting a 20-30% reduction in drug testing timelines and halving the time from target selection to lead molecule.
At the time of this announcement, BMY was trading at $60.58 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 news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Benzinga.