Biopharmaceutical company Bristol Myers Squibb (NYSE:BMY) will be reporting results tomorrow before the bell. Here’s what you need to know.
Bristol-Myers Squibb beat analysts’ revenue expectations by 5.8% last quarter, reporting revenues of $11.89 billion, up 8.4% year on year. It was a stunning quarter for the company, with a solid beat of analysts’ full-year EPS guidance estimates.
Is Bristol-Myers Squibb a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Bristol-Myers Squibb’s revenue to be flat year on year at $11.58 billion, in line with its flat revenue from the same quarter last year. Adjusted earnings are expected to come in at $1.47 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Bristol-Myers Squibb has missed Wall Street’s revenue estimates twice over the last two years.
Looking at Bristol-Myers Squibb’s peers in the branded pharmaceuticals segment, some have already reported their Q4 results, giving us a hint as to what we can expect. Pfizer delivered year-on-year revenue growth of 21.9%, beating analysts’ expectations by 3%, and Johnson & Johnson reported revenues up 5.3%, in line with consensus estimates. Johnson & Johnson traded down 1% following the results.
Read our full analysis of Pfizer’s results here and Johnson & Johnson’s results here.
There has been positive sentiment among investors in the branded pharmaceuticals segment, with share prices up 2.6% on average over the last month. Bristol-Myers Squibb is up 4% during the same time and is heading into earnings with an average analyst price target of $61.72 (compared to the current share price of $59.44).
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