BRISTOL-MYERS SQUIBB Reports FY2022 Q4 Earnings Results on February 2 2023
March 28, 2023
Earnings Overview
On February 2 2023, BRISTOL-MYERS SQUIBB ($NYSE:BMY) reported its earnings results for the fourth quarter of FY2022, which concluded on December 31 2022. Overall revenue reached USD 2.0 billion, a decrease of 14.8% from the same quarter of the prior fiscal year. Net income also declined 4.8% year-over-year, totaling USD 11.4 billion.
Transcripts Simplified
Bristol-Myers Squibb reported fourth quarter and full year revenue of $645 million and $2 billion, respectively, nearly doubling over 2021. Global Opdivo sales saw double-digit growth in the fourth quarter and full year, with strong demand for the newly launched and core indications. The first-in-class LAG-3 inhibitor, Opdualag, generated sales of $252 million in 2022. Global Eliquis revenues grew 6% and 14% in the fourth quarter and full year, respectively.
The first-in-class myosin inhibitor, Camzyos, reported sales of $16 million in the fourth quarter. Overall, the company saw strong growth from their new product portfolio and is on track to deliver the potential of their new product portfolio with $25 billion of non-risk-adjusted revenue expected at the end of the decade.
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
At the stock market, the stock opened at $70.3 and rose to close at $72.8, resulting in a 2.2% increase from its prior closing price of $71.2. The company’s strong earnings reflected a successful quarter in terms of both sales and cost control, as BRISTOL-MYERS SQUIBB was able to effectively manage expenses while still delivering growth in revenue. These results were welcomed by investors, as the stock rose in response to the news, with the market viewing BRISTOL-MYERS SQUIBB as a healthy and growing company in an ever-changing industry. The company’s long-term strategy appears to be paying off as investors are confident in BRISTOL-MYERS SQUIBB’s ability to deliver strong financial results into the future. Live Quote…
Analysis
At GoodWhale, we have conducted a financial review of BRISTOL-MYERS SQUIBB‘s fundamentals. As a result, we have rated the company as a high risk investment with regards to financial and business aspects. Our analysis has revealed three risk warnings; these can be found in the income sheet, balance sheet and non-financial areas. For more detailed information, please register with us to gain access to our in-depth reports. More…
Peers
The company was founded in 1887 and is headquartered in New York City. The company’s products are sold in over 100 countries. Bristol-Myers Squibb Co’s competitors include Merck & Co Inc, Amgen Inc, Eli Lilly and Co.
– Merck & Co Inc ($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 earnings for FY2022 Q4 on February 2 2023. Total revenue for the quarter decreased by 14.8% year-over-year, amounting to USD 2.0 billion. Net income saw a 4.8% decrease year-over-year, equaling USD 11.4 billion.
From an investor’s perspective, this signals a challenging trading period for BRISTOL-MYERS SQUIBB which could have a negative impact on their stock price. Investors may want to consider the company’s prospects and the risks associated with investing in BRISTOL-MYERS SQUIBB before deciding whether to buy or sell the stock.
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