Bristol-Myers Squibb Company Reports Higher-Than-Expected Earnings Despite Lower-Than-Expected Revenue
April 28, 2023
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BRISTOL-MYERS ($NYSE:BMY): Bristol-Myers Squibb Company (NYSE:BMY) reported higher-than-expected earnings despite lower-than-expected revenue in its latest earnings release. The company posted a Non-GAAP Earnings Per Share (EPS) of $2.05, surpassing estimates by $0.05, however, revenues of $11.3B fell short by $290M. This marks the tenth consecutive quarter that the company has beat earnings expectations. Bristol-Myers Squibb is a global biopharmaceutical company headquartered in New York City. Its portfolio of products covers a range of therapeutic categories, including cardiovascular, oncology, immunoscience, and neuroscience. The company is a leader in many key markets and invests heavily in research and development.
It has a diverse portfolio of prescription medicines, vaccines and over-the-counter products that are used to treat many conditions and ailments. It also operates a pipeline of potential new medicines to address unmet medical needs. Overall, despite its lower-than-expected revenue, Bristol-Myers Squibb was still able to post better-than-expected earnings due to cost containment measures and a strong focus on its core business. The company remains committed to delivering innovative products and services to patients around the world and to creating value for its shareholders.
Market Price
The stock opened at $68.0 and closed at $67.6, a decrease of 0.6% from the prior closing price of $68.0. Despite the lower-than-expected revenue, the company was able to report higher-than-expected earnings due to cost control measures, efficient management of expenses, and strategic product and market positioning. This report serves as an indication that even in the face of unfavorable market conditions, Bristol-Myers Squibb is able to manage its resources in order to maximize profits. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Bristol-myers Squibb. More…
| Total Revenues | Net Income | Net Margin |
| 46.16k | 6.33k | 16.2% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Bristol-myers Squibb. More…
| Operations | Investing | Financing |
| 13.07k | -1.06k | -16.96k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Bristol-myers Squibb. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 96.82k | 65.7k | 14.97 |
Key Ratios Snapshot
Some of the financial key ratios for Bristol-myers Squibb are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 20.9% | 15.5% | 19.4% |
| FCF Margin | ROE | ROA |
| 25.9% | 17.5% | 5.8% |
Analysis
At GoodWhale, we have conducted an analysis of the wellbeing of BRISTOL-MYERS SQUIBB. Our Risk Rating shows that BRISTOL-MYERS SQUIBB is a high risk investment in terms of its financial and business aspects. We have detected a total of three risk warnings in the company’s income sheet, balance sheet, and non financial components. If you would like to learn more about these risk warnings, please become a registered user of GoodWhale. We guarantee that all our users will have an informed and comprehensive understanding of the company’s current wellbeing. More…
Peers
The company was founded in 1887 and is headquartered in New York City. The company’s products are sold in over 100 countries. Bristol-Myers Squibb Co’s competitors include Merck & Co Inc, Amgen Inc, Eli Lilly and Co.
– Merck & Co Inc ($NYSE:MRK)
Merck & Co Inc is a global health care company that offers a wide range of products and services to customers in more than 140 countries. The company has a market cap of 236.25B as of 2022 and a Return on Equity of 28.84%. Merck & Co Inc is a diversified company that operates in four main business segments: Pharmaceuticals, Vaccines, Animal Health, and Consumer Care. The company’s products include prescription and over-the-counter medicines, vaccines, biologic therapies, and consumer and animal health products. Merck & Co Inc is one of the world’s largest pharmaceutical companies and is a leading provider of health care products and services.
– Amgen Inc ($NASDAQ:AMGN)
Amgen Inc is a large biotechnology company with a market cap of 132.76B as of 2022. The company has a strong return on equity of 460.37%. The company focuses on developing and delivering therapies for serious illnesses.
– Eli Lilly and Co ($NYSE:LLY)
Eli Lilly and Co is a pharmaceutical company with a market cap of 312.88B as of 2022. Its return on equity is 45.88%. The company focuses on the discovery, development, manufacture, and sale of pharmaceutical products. It offers products in the areas of endocrinology, diabetes, oncology, immunology, neuroscience, and erectile dysfunction.
Summary
Despite this, investors appeared to be encouraged by the EPS beat, as BMS’s stock price rose nearly 4% following the earnings release. Going forward, investors must keep an eye on the potential impact of the pandemic on BMS’s operations, while also considering the company’s long-term strategy and the potential of its product pipeline to drive growth and profitability.
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