Bristol Myers Squibb (NYSE:BMY) Posts Earnings Results, Beats Expectations By $0.25 EPS

Key Points

• Bristol Myers Squibb beat quarterly expectations, reporting $1.35 adjusted EPS versus the $1.10 consensus and $13.07 billion in revenue versus $12.72 billion expected. Revenue increased 6.9% year over year.
• The company’s growth portfolio rose 12% to $7.7 billion, supported by newer medicines including BREYANZI, CAMZYOS and QVANTIG. BMS raised its full-year revenue outlook to approximately $50 billion, though higher research charges pressured its EPS outlook.
• Investors face longer-term risks from a projected $1.5 billion–$2 billion decline in ELIQUIS revenue in 2027, weaker-than-expected Opdivo sales and uncertainty around several pipeline programs.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) released its quarterly earnings results on Thursday. The biopharmaceutical company reported $1.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.10 by $0.25, FiscalAI reports. The firm had revenue of $13.07 billion for the quarter, compared to the consensus estimate of $12.72 billion. Bristol Myers Squibb had a return on equity of 66.90% and a net margin of 18.87%. The firm's quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.63 EPS.

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

• Strong third-quarter execution led to raised 2026 guidance. Revenue increased 7% to approximately $13.1 billion, growth-portfolio sales rose 12%, and non-GAAP EPS guidance is now $6.35–$6.55.
• The growth portfolio is becoming increasingly diversified, with eight medicines each annualizing above $1 billion. Key contributors included BREYANZI, CAMZYOS, OPDUALAG, REVLIMID, and QVANTIG, whose sales grew 28% sequentially and are now annualizing above $1.3 billion.
• BMS reported encouraging pipeline progress, including positive registrational results for Zenbexus, admilparant, RYZ101, and arlo-cel. The company also expects multiple additional readouts through 2027, including milvexian, SOTYKTU in lupus, Cobenfy, and golcadomide.
• The company expects a significant $1.5 billion–$2 billion ELIQUIS revenue decline in 2027 as loss of exclusivity begins in Europe, while the broader legacy portfolio is expected to decline 3%–5% in 2026.
• Management highlighted execution risks and ongoing uncertainty around several programs, including mixed dose results for admilparant, the need to improve Cobenfy patient starts and repeat prescribing, and a temporary clinical pause for autoimmune CAR-T candidate zola-cel following a fatal septic pneumonia case.

Bristol Myers Squibb Trading Up 1.2%

BMY traded up $0.73 during trading on Thursday, hitting $61.30. The company's stock had a trading volume of 9,709,498 shares, compared to its average volume of 12,014,263. The firm's 50 day moving average price is $62.98 and its 200-day moving average price is $59.88. The company has a debt-to-equity ratio of 1.89, a current ratio of 1.53 and a quick ratio of 1.38. The stock has a market cap of $125.22 billion, a PE ratio of 13.50, a PEG ratio of 0.31 and a beta of 0.19. Bristol Myers Squibb has a twelve month low of $43.19 and a twelve month high of $68.64.

Bristol Myers Squibb Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 2nd. Investors of record on Friday, October 2nd will be given a dividend of $0.63 per share. The ex-dividend date is Friday, October 2nd. This represents a $2.52 dividend on an annualized basis and a yield of 4.1%. Bristol Myers Squibb's dividend payout ratio (DPR) is 55.51%.

Insider Activity

In other news, SVP Phil M. Holzer sold 500 shares of Bristol Myers Squibb stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $67.50, for a total value of $33,750.00. Following the completion of the sale, the senior vice president owned 16,862 shares of the company's stock, valued at $1,138,185. The trade was a 2.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.05% of the stock is owned by company insiders.

More Bristol Myers Squibb News

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

• Positive Sentiment: Third-quarter revenue rose 6.9% year over year to $13.07 billion, exceeding Wall Street’s roughly $12.72 billion estimate, while adjusted EPS of $1.35 also topped expectations. Bristol Myers Squibb Reports Third Quarter Financial Results for 2026
• Positive Sentiment: The company’s newer-drug Growth Portfolio expanded 12% to $7.7 billion and generated nearly all of the quarterly revenue growth. Eliquis demand also supported results, strengthening confidence that newer products can offset pressure from older medicines. Bristol Myers Growth Drugs Hit $7.7 Billion
• Positive Sentiment: Bristol Myers raised its full-year revenue outlook to approximately $50 billion, reflecting stronger-than-expected demand for its newer medicines. Management also highlighted artificial intelligence as helping accelerate drug research, although the financial impact remains an area investors will monitor. Bristol Myers Lifts Sales Outlook as Newer Drugs Drive Growth
• Neutral Sentiment: The 17% year-over-year decline in adjusted EPS largely reflected deal-related accounting effects rather than deterioration in the underlying business, according to the earnings reaction. Bristol Myers Squibb Q3 Earnings and AI Research
• Negative Sentiment: Bristol Myers cut its 2026 EPS outlook because of higher in-process research and development charges. The reduction limits the benefit of the higher sales forecast and may keep investors focused on spending and earnings quality. Bristol Myers Cuts EPS Outlook but Raises Revenue Forecast
• Negative Sentiment: Opdivo sales fell short of expectations, creating concern about performance from one of Bristol Myers’ key established products and contributing to the initial pressure on the stock. Bristol Myers Slips on Opdivo Sales and Guidance Cut

Wall Street Analyst Weigh In

Several research firms have recently weighed in on BMY. Sanford C. Bernstein reissued a "market perform" rating on shares of Bristol Myers Squibb in a report on Tuesday, October 13th. Weiss Ratings raised shares of Bristol Myers Squibb from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday, August 18th. Daiwa Securities Group lifted their target price on shares of Bristol Myers Squibb from $53.00 to $66.00 and gave the company a "neutral" rating in a report on Tuesday, August 4th. The Goldman Sachs Group upgraded shares of Bristol Myers Squibb from a "hold" rating to a "strong-buy" rating in a research note on Friday, October 16th. Finally, Wells Fargo & Company dropped their price objective on shares of Bristol Myers Squibb from $65.00 to $60.00 and set an "equal weight" rating on the stock in a research note on Tuesday, October 13th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, sixteen have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Bristol Myers Squibb presently has an average rating of "Hold" and an average target price of $65.50.

About Bristol Myers Squibb

Bristol Myers Squibb NYSE: BMY is a global biopharmaceutical company focused on discovering, developing and commercializing medicines for serious diseases. Its research and development activities span oncology, hematology, immunology, cardiovascular disease, neuroscience and other specialty areas.

The company's portfolio includes oncology medicines such as Opdivo, Yervoy, Abraxane, Sprycel and Pomalyst, as well as Eliquis, an anticoagulant developed in partnership with Pfizer. Bristol Myers Squibb also markets immunology and neuroscience products, including Orencia and Sotyktu, and continues to invest in therapies based on biologics, cell therapy and other advanced treatment approaches.

Bristol Myers Squibb traces its roots to pharmaceutical businesses founded by Bristol-Myers in 1881 and E.R.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.