Bristol Myers Raises 2026 Forecast After Q2 Smashes Estimates
BMY sits 51% above its 52-week low of $42.52.
Summary
Bristol Myers Squibb delivered a massive Q2 beat and raised full-year guidance well above consensus. Revenue of $12.97B crushed the $11.75B estimate, and adjusted EPS of $2.04 nearly doubled the $1.59 expected. The company lifted its 2026 revenue outlook to $49-50B from $46-47.5B and EPS to $6.75-7.00 from $6.05-6.35. Eliquis was the standout, with sales surging 22% to $4.48B, and the full-year growth forecast was hiked to 20-25% from 10-15%. Newer drugs also excelled: Reblozyl, Camzyos, Breyanzi, and Opdivo Qvantig all beat estimates by double-digit margins. This follows a string of positive pipeline news, including FDA acceptance of mezigdomide and strong data for IZA-Bren. The results show the growth portfolio is successfully offsetting Revlimid's decline, with nine products growing double digits. The stock is near its 52-week high, and this report reinforces the turnaround narrative. Pfizer shares in Eliquis economics, but BMY is the primary beneficiary of the raised outlook.
At the time of this announcement, BMY was trading at $64.30 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 news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: Reuters.