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.
Updates
· Reuters — Shares rose 2.5% premarket. Opdivo sales fell 3% to $2.49B, while Qvantig revenue was $261M.
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.