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Bristol-Myers Squibb Company (BMY - Free Report) is a New York-based major producer and distributor of pharmaceuticals and other healthcare related products. The company’s key oncology products include Opdivo, Sprycel, Yervoy and Empliciti. Other than oncology, the company is focused on immunology and cardiovascular drugs like Orencia and Eliquis. It also markets drugs for HBV and HCV like Baraclude and Daklinza. The company’s virology portfolio comprises products like Reyataz and the Sustiva franchise.
Bristol-Myers is also active on partnership front and pursue strategic acquisitions across therapeutic areas including immunoscience, oncology, fibrosis and genetically defined diseases.
However, like many of its peers, Bristol-Myers is facing generic competition for several of its key products. Moreover, its HIV and HCV businesses are under competitive pressure. In this scenario, investor focus remains on company’s high-profile immuno-oncology drug, Opdivo, apart from the usual top-and bottom-line numbers.
Bristol-Myers has a mixed record of earnings surprises in the recent quarters. The company’s earnings surpassed expectations in three of the last four quarters, with an average positive surprise of 2.71%
Currently, Bristol-Myers has a Zacks Rank #3 (Hold), but that could definitely change following the company’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: Bristol-Myers beats on second-quarter 2018 earnings. The company reported EPS of $1.01 while our consensus called for EPS of 87 cents.
Revenues: Moreover, revenues were above expectations. Bristol-Myers posted revenues of $5.7 billion, compared to our consensus estimate of $5.48 billion.
2018 Guidance: Bristol-Myers updated its earnings outlook for 2018. The company expects earnings in the range of $3.55 to $3.65 per share (previously $3.35 to $3.45). The Zacks Consensus Estimate for earnings stands at $3.43 per share.
Pre-Market Trading: Shares are up 1.6% in pre-market trading.
Key Stats: In July, label for Sprycel was expanded to include pediatric patients (aged 1 year to 18 years) with Philadelphia chromosome-positive chronic myeloid leukemia in chronic phase in Europe. The FDA approved a combination regimen of Opdivo plus Yervoy for the treatment of metastatic colorectal cancer in treatment of patients with high microsatellite instability.Moreover in June, the company’s blockbuster drug, Opdivo, was approved in China for second-line treatment of non-small cell lung cancer patients.
Check back later for our full write up on this BMY earnings report later!
Bristol-Myers Squibb Company Price and EPS Surprise
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
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Bristol-Myers (BMY) Q2 Earnings Beat Estimates
Bristol-Myers Squibb Company (BMY - Free Report) is a New York-based major producer and distributor of pharmaceuticals and other healthcare related products. The company’s key oncology products include Opdivo, Sprycel, Yervoy and Empliciti. Other than oncology, the company is focused on immunology and cardiovascular drugs like Orencia and Eliquis. It also markets drugs for HBV and HCV like Baraclude and Daklinza. The company’s virology portfolio comprises products like Reyataz and the Sustiva franchise.
Bristol-Myers is also active on partnership front and pursue strategic acquisitions across therapeutic areas including immunoscience, oncology, fibrosis and genetically defined diseases.
However, like many of its peers, Bristol-Myers is facing generic competition for several of its key products. Moreover, its HIV and HCV businesses are under competitive pressure. In this scenario, investor focus remains on company’s high-profile immuno-oncology drug, Opdivo, apart from the usual top-and bottom-line numbers.
Bristol-Myers has a mixed record of earnings surprises in the recent quarters. The company’s earnings surpassed expectations in three of the last four quarters, with an average positive surprise of 2.71%
Currently, Bristol-Myers has a Zacks Rank #3 (Hold), but that could definitely change following the company’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: Bristol-Myers beats on second-quarter 2018 earnings. The company reported EPS of $1.01 while our consensus called for EPS of 87 cents.
Revenues: Moreover, revenues were above expectations. Bristol-Myers posted revenues of $5.7 billion, compared to our consensus estimate of $5.48 billion.
2018 Guidance: Bristol-Myers updated its earnings outlook for 2018. The company expects earnings in the range of $3.55 to $3.65 per share (previously $3.35 to $3.45). The Zacks Consensus Estimate for earnings stands at $3.43 per share.
Pre-Market Trading: Shares are up 1.6% in pre-market trading.
Key Stats: In July, label for Sprycel was expanded to include pediatric patients (aged 1 year to 18 years) with Philadelphia chromosome-positive chronic myeloid leukemia in chronic phase in Europe. The FDA approved a combination regimen of Opdivo plus Yervoy for the treatment of metastatic colorectal cancer in treatment of patients with high microsatellite instability.Moreover in June, the company’s blockbuster drug, Opdivo, was approved in China for second-line treatment of non-small cell lung cancer patients.
Check back later for our full write up on this BMY earnings report later!
Bristol-Myers Squibb Company Price and EPS Surprise
Bristol-Myers Squibb Company Price and EPS Surprise | Bristol-Myers Squibb Company Quote
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Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
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