The earnings call reflects a positive outlook, with strong performance from the growth portfolio, significant advancements in the pipeline, and successful approval and launch of new products like Cobinfi. However, challenges remain in achieving broader access for certain products and managing inventory impacts. The company's financial discipline and raised guidance further support a positive sentiment.

Company Guidance

During the Bristol-Myers Squibb Q3 2024 earnings call, the company provided guidance emphasizing key financial and strategic metrics. They reported a 20% increase in growth portfolio revenues at constant currency, now representing about half of total revenues, and emphasized the importance of disciplined expense management. The company highlighted achievements including the FDA approval of Cobinfi for schizophrenia, marking their reentry into neuroscience, and the approval of an OPDIVO-based treatment for non-small cell lung cancer. They are on track to deliver $1.5 billion in savings by 2025, which will be reinvested in high ROI opportunities. Capital allocation priorities include paying down $10 billion in debt by mid-2026 and maintaining a commitment to dividends. Bristol-Myers Squibb raised their full-year revenue growth target to approximately 5% as reported and 6% at constant currency, attributing part of the increase to higher-than-expected sales of REVLIMID. Despite facing generic competition for several products, the company remains confident in achieving long-term sustainable growth, supported by a strong pipeline and strategic investments.

Strong Growth Portfolio Performance

Growth portfolio revenues increased 20% in Q3 at constant currency, with significant contributions from key brands such as Reblozyl, Breyanzi, and KEMZyOS.

Cobinfi Approval and Launch

FDA approval of Cobinfi, a novel mechanism for schizophrenia, which addresses significant unmet needs in mental health. The product is expected to ramp up sales after achieving broad access in the U.S.

Pipeline Advancements

Progress in oncology, including FDA approval for an OPDIVO-based treatment in non-small cell lung cancer and advancement of the nivolumab plus rolatlimib combination to Phase III trials.

Financial Discipline and Guidance

On track to deliver $1.5 billion in savings by the end of 2025, with raised full-year revenue and EPS guidance due to strong performance and higher-than-anticipated sales of Revlimid.

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Bristol-Myers Squibb (BMY) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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BMY Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Feb 06, 2025	2024 (Q4)	1.47 / -	1.7	―	―	―
Oct 31, 2024	2024 (Q3)	1.49 / 1.80	2	-10.00% (-0.20)
Jul 26, 2024	2024 (Q2)	1.62 / 2.07	1.75	18.29% (+0.32)
Apr 25, 2024	2024 (Q1)	-4.41 / -4.40	2.05	-314.63% (-6.45)
Feb 02, 2024	2023 (Q4)	1.55 / 1.70	1.82	-6.59% (-0.12)
Oct 26, 2023	2023 (Q3)	1.76 / 2.00	1.99	0.50% (+0.01)
Jul 27, 2023	2023 (Q2)	1.96 / 1.75	1.93	-9.33% (-0.18)
Apr 27, 2023	2023 (Q1)	1.97 / 2.05	1.96	4.59% (+0.09)
Feb 02, 2023	2022 (Q4)	1.73 / 1.82	1.83	-0.55% (-0.01)
Oct 25, 2022	2022 (Q3)	1.83 / 1.99	2	-0.50% (-0.01)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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BMY Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Oct 31, 2024	$52.66	$55.77	+5.91%
Jul 26, 2024	$44.77	$49.89	+11.44%
Apr 25, 2024	$47.60	$43.54	-8.53%
Feb 02, 2024	$46.86	$46.90	+0.09%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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