Bristol Myers Squibb (NYSE:BMY) Issues Quarterly Earnings Results

Key Points

• Bristol Myers Squibb beat quarterly expectations: Adjusted EPS was $2.04 versus the $1.60 consensus estimate, while revenue rose 5.7% year over year to $12.97 billion.
• Management raised its 2026 outlook to adjusted EPS of $6.75–$7.00 and revenue of $49–$50 billion, supported by strong growth from Eliquis and newer products including Breyanzi, Camzyos, Reblozyl and Opdivo Qvantig.
• Investors still face execution risks: Several key clinical readouts were delayed, and analysts remain mixed, with the stock carrying a consensus “Hold” rating despite its quarterly dividend and improved guidance.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) announced its quarterly earnings data on Thursday. The biopharmaceutical company reported $2.04 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.44, FiscalAI reports. The business had revenue of $12.97 billion during the quarter, compared to the consensus estimate of $11.74 billion. Bristol Myers Squibb had a return on equity of 64.87% and a net margin of 15.01%.Bristol Myers Squibb's revenue for the quarter was up 5.7% on a year-over-year basis. During the same period in the prior year, the company earned $1.46 EPS. Bristol Myers Squibb updated its FY 2026 guidance to 6.750-7.000 EPS.

Here are the key takeaways from Bristol Myers Squibb's conference call:

• Second-quarter results exceeded expectations: Revenue increased 5% to approximately $13 billion, with the growth portfolio up 14% to $7.6 billion and adjusted EPS of $2.04. Management raised its full-year 2026 revenue and adjusted EPS guidance.
• Growth was broad-based, led by ELIQUIS demand growth of 21%, BREYANZI growth of 41%, CAMZYOS growth of 59%, REBLOZYL growth of 29%, and continued momentum for Sotyktu and Opdivo Qvantig. Management now expects ELIQUIS revenue growth of 20%-25% for 2026.
• The company highlighted multiple potential pipeline catalysts, including late-2026 readouts for amilparant, Sotyktu in lupus, milvexian in secondary stroke prevention, and several oncology programs. Iberdomide’s FDA decision is expected August 17, 2026, while mezigdomide has a May 2027 PDUFA date.
• Timelines for important studies have moved later: milvexian’s atrial-fibrillation readout is now expected in the first quarter of 2027, while COBENFY’s ADEPT program readouts will begin in early 2027 and extend through the year. Management attributed the delays to slower event accrual and efforts to preserve study quality, while maintaining confidence in the programs.
• Bristol Myers Squibb reported approximately $3.4 billion in second-quarter operating cash flow, $11.5 billion in cash and marketable securities, and another $1.2 billion of debt repayment. Productivity savings and financial flexibility are supporting continued pipeline investment, potential business development, and shareholder returns.

Bristol Myers Squibb Price Performance

Shares of BMY stock traded up $1.88 during trading on Thursday, hitting $64.98. The company had a trading volume of 18,018,696 shares, compared to its average volume of 12,268,565. Bristol Myers Squibb has a 52 week low of $42.52 and a 52 week high of $65.56. The stock has a market capitalization of $132.70 billion, a price-to-earnings ratio of 18.25, a price-to-earnings-growth ratio of 0.18 and a beta of 0.23. The company has a quick ratio of 1.28, a current ratio of 1.42 and a debt-to-equity ratio of 2.10. The stock's 50-day moving average is $57.79 and its two-hundred day moving average is $58.22.

Bristol Myers Squibb Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Thursday, July 2nd will be issued a $0.63 dividend. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $2.52 annualized dividend and a dividend yield of 3.9%. Bristol Myers Squibb's dividend payout ratio (DPR) is presently 70.79%.

Trending Headlines about Bristol Myers Squibb

Here are the key news stories impacting Bristol Myers Squibb this week:

• Positive Sentiment: Quarterly results exceeded expectations. BMY reported adjusted earnings of $2.04 per share versus the $1.60 consensus estimate, while revenue rose 5.7% year over year to $12.97 billion, well ahead of the $11.74 billion forecast. Earnings also increased from $1.46 per share in the prior-year quarter. Reuters article
• Positive Sentiment: Management raised its 2026 outlook. The company now expects adjusted EPS of $6.75–$7.00 and revenue of $49 billion–$50 billion, above analyst expectations of approximately $6.31 EPS and $47.3 billion in revenue. Wall Street Journal article
• Positive Sentiment: Growth products are helping offset patent-related pressure. Strong demand for Eliquis, along with newer treatments including Camzyos, Reblozyl, Opdivo Qvantig and Breyanzi, supported the quarter. Investors are increasingly focused on whether these products can replace declining legacy-drug revenue. Quartz article
• Positive Sentiment: Valuation remains attractive to some analysts. A bullish view highlighted BMY’s low forward valuation and roughly 4% dividend yield, while Piper Sandler maintained a Buy rating. Seeking Alpha article
• Neutral Sentiment: Analyst opinion remains mixed: strong results and a better Eliquis outlook were balanced by a Hold rating reflecting legacy-product declines and delays or uneven performance among pipeline assets. TipRanks article
• Negative Sentiment: Put-option trading was unusually heavy, with 44,620 puts purchased—about 77% above average—signaling that some traders are hedging against a pullback or taking a bearish view despite the earnings beat.

Wall Street Analysts Forecast Growth

BMY has been the subject of a number of recent analyst reports. Wall Street Zen raised shares of Bristol Myers Squibb from a "buy" rating to a "strong-buy" rating in a research report on Saturday, June 27th. Cantor Fitzgerald reissued a "neutral" rating and issued a $54.00 price target on shares of Bristol Myers Squibb in a research report on Monday, July 6th. Bank of America lowered their price objective on Bristol Myers Squibb from $67.00 to $66.00 and set a "buy" rating for the company in a research note on Friday, July 10th. Guggenheim reiterated a "buy" rating and issued a $72.00 target price on shares of Bristol Myers Squibb in a research note on Wednesday, April 8th. Finally, BMO Capital Markets reissued a "market perform" rating on shares of Bristol Myers Squibb in a research report on Monday. Eight equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $61.25.

Institutional Trading of Bristol Myers Squibb

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Brighton Jones LLC raised its holdings in Bristol Myers Squibb by 33.4% during the 4th quarter. Brighton Jones LLC now owns 19,728 shares of the biopharmaceutical company's stock valued at $1,116,000 after buying an additional 4,935 shares during the last quarter. Sivia Capital Partners LLC boosted its holdings in shares of Bristol Myers Squibb by 59.4% during the second quarter. Sivia Capital Partners LLC now owns 7,477 shares of the biopharmaceutical company's stock worth $346,000 after purchasing an additional 2,786 shares during the period. United Bank grew its stake in shares of Bristol Myers Squibb by 15.0% in the second quarter. United Bank now owns 25,148 shares of the biopharmaceutical company's stock worth $1,164,000 after purchasing an additional 3,277 shares during the last quarter. Marshall Wace LLP bought a new position in Bristol Myers Squibb during the 2nd quarter valued at approximately $221,000. Finally, Nebula Research & Development LLC purchased a new stake in Bristol Myers Squibb in the 2nd quarter worth approximately $405,000. Hedge funds and other institutional investors own 76.41% of the company's stock.

About Bristol Myers Squibb

Bristol Myers Squibb is a global biopharmaceutical company headquartered in Princeton, New Jersey, focused on discovering, developing and delivering medicines for serious diseases. The company's core activities include research and development, clinical development, manufacturing and commercialization of prescription pharmaceuticals across multiple therapeutic areas. BMS concentrates on advancing therapies in oncology, hematology, immunology, cardiovascular disease and specialty areas through both small molecules and biologics.

BMS's marketed portfolio and late‑stage pipeline reflect a strong emphasis on cancer and immune‑mediated conditions.

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