BRISTOL-MYERS SQUIBB Reports Fourth Quarter FY2022 Earnings Results on February 2 2023
March 27, 2023
Earnings Overview
On February 2 2023, BRISTOL-MYERS SQUIBB ($NYSE:BMY) reported total revenue of USD 2.0 billion for the fourth quarter of FY2022, ending December 31 2022, which was a 14.8% decrease from the same quarter of the previous year. Net income also saw a 4.8% decrease, totaling USD 11.4 billion.
Transcripts Simplified
In the fourth quarter, global revenues for the new product portfolio were $645 million, up 87%, while full year revenues topped over $2 billion, nearly doubling over 2021. Opdivo saw double-digit growth in both the fourth quarter and the full year. Eliquis had a great year, with global revenues in the fourth quarter and full year growing 6% and 14%, respectively. Camzyos had sales of $16 million in the fourth quarter since its launch in May 2022.
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% |
Price History
BRISTOL-MYERS SQUIBB reported its fourth quarter FY2022 earnings results on Thursday, February 2, 2023. The company opened at a price of $70.3 and closed the day at $72.8, representing a 2.2% increase from its previous closing price of $71.2. This is an indication that the market is bullish about the company’s fantastic performance in the fourth quarter and its future outlook, which is positive. The company attributed its strong performance to its strong execution in the fourth quarter, particularly in its Pharmaceuticals business.
In addition, the company’s cost-cutting initiatives and focus on efficiency have contributed to the strong performance in the fourth quarter, allowing it to achieve higher margins and cost savings. Overall, BRISTOL-MYERS SQUIBB is in a good position for the future given its strong performance in FY2022. The market has responded positively to the company’s results and this is reflected in its share price. Investors should keep an eye on BRISTOL-MYERS SQUIBB as they are likely to benefit from a strong showing in the future. Live Quote…
Analysis
GoodWhale recently conducted an analysis of BRISTOL-MYERS SQUIBB‘s wellbeing. Using the Star Chart, we found that BRISTOL-MYERS SQUIBB has a high health score of 8/10, meaning they have the financial flexibility to ride out any crisis without the risk of bankruptcy. According to our research, BRISTOL-MYERS SQUIBB falls into the ‘rhino’ classification, meaning they have achieved moderate revenue or earnings growth. This indicates that investors looking for dividends, growth, and profitability would benefit from keeping an eye on this company. Unfortunately, BRISTOL-MYERS SQUIBB shows weaknesses in asset management, which could be a red flag for investors. More…
Peers
The company was founded in 1887 and is headquartered in New York City. The company’s products are sold in over 100 countries. Bristol-Myers Squibb Co’s competitors include Merck & Co Inc, Amgen Inc, Eli Lilly and Co.
– Merck & Co Inc ($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
BRISTOL-MYERS SQUIBB reported its fourth quarter FY2022 earnings on February 2 2023, with total revenue of USD 2.0 billion and net income of USD 11.4 billion. Both figures were lower than the same quarter of prior year, with total revenue down 14.8% and net income down 4.8%. This is a cause for concern for investors in the company, as it suggests that profits are declining and that the company’s performance has weakened. Investors will be hoping for improved performance in the next quarter and/or a reversal in this trend in order to restore confidence in the company’s prospects.
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