BRISTOL-MYERS SQUIBB Reports FY2022 Q4 Earnings Results on February 2, 2023
March 27, 2023
Earnings Overview
On February 2 2023, BRISTOL-MYERS SQUIBB ($NYSE:BMY) reported the financial results for Q4 of FY2022, which ended on December 31 2022. Total revenue for the fourth quarter amounted to USD 2.0 billion, a decrease of 14.8% compared to the same quarter of the prior year, while net income was USD 11.4 billion, a decrease of 4.8% year over year.
Transcripts Simplified
BRISTOL-MYERS SQUIBB reported fourth quarter sales of $645 million, up 87%, and full year sales of over $2 billion, nearly doubling year-over-year. This growth was driven by strong demand for their new and core indications, primarily Opdivo and their first-in-class LAG-3 inhibitor Opdualag. Their cardiovascular portfolio also saw strong growth, with Eliquis reporting global revenue growth of 6% and 14% in the fourth quarter and full year, respectively.
They also reported a successful launch of their first-in-class myosin inhibitor Camzyos, with fourth quarter sales of $16 million. Going forward, they expect growth to continue from new indications in both early and late-stage cancers.
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% |
Stock Price
On Thursday, BRISTOL-MYERS SQUIBB reported their FY2022 fourth quarter earnings results. The stock opened at $70.3 and closed at $72.8, up 2.2% from the previous closing price of 71.2. This marked an increase in BRISTOL-MYERS SQUIBB’s share price and a positive outlook for their financial performance for the year ahead.
These results suggest that BRISTOL-MYERS SQUIBB is on the right track and have the resources to continue their successful operations and growth initiatives going into 2023. Investors should keep an eye on this company as they may benefit from continued strong financial performance in the coming months. Live Quote…
Analysis
After conducting an extensive analysis of BRISTOL-MYERS SQUIBB‘s financials, GoodWhale has identified that the company is strong in dividend, growth, and profitability according to the Star Chart. We have classified the company as a ‘Rhino’, which we have concluded is a type of company that has achieved moderate revenue or earnings growth. Given this information, investors interested in this type of company may want to consider BRISTOL-MYERS SQUIBB, as it has a high health score of 8/10 with regard to its cashflows and debt. This indicates that BRISTOL-MYERS SQUIBB is capable of safely riding out any crisis without the risk of bankruptcy. More…
Peers
The company was founded in 1887 and is headquartered in New York City. The company’s products are sold in over 100 countries. Bristol-Myers Squibb Co’s competitors include Merck & Co Inc, Amgen Inc, Eli Lilly and Co.
– Merck & Co Inc ($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 their fourth quarter earnings results for FY2022 on February 2 2023. Total revenue declined 14.8% compared to the same quarter of the prior year, while net income decreased by 4.8%. For investors, the decreased revenue and net income suggest that the company’s performance is not up to the desired level, and may indicate that there are underlying issues that need to be addressed. As such, investors should closely monitor the company’s performance and analyze their financials in order to gain a better understanding of their future prospects.
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