Zacks
0
All posts from Zacks
Zacks in Our Research. Your Success.,

Bristol-Myers (BMY) Beats on Q1 Earnings and Revenues

Bristol-Myers Squibb Company BMY is a major producer and distributor of pharmaceuticals and other healthcare related products. New York-based Bristol-Myers manufactures and sells branded pharmaceutical drugs such as Sprycel for leukemia, Yervoy for metastatic melanoma, Baraclude for hepatitis B virus (HBV), Reyataz and Sustiva for HIV, Orencia for rheumatoid arthritis, and its hepatitis C (HCV) franchise (Daklinza).

Bristol-Myers is actively building its partnership portfolio and pursuing strategic acquisitions across therapeutic areas including immunoscience, oncology, fibrosis and genetically defined diseases.

However, like many of its peers, Bristol-Myers is facing generic competition for several of its key products. Moreover, its HIV and HCV businesses are under competitive pressure. In this scenario, investor focus remains on company’s high-profile immuno-oncology drug, Opdivo apart from the usual top-and bottom-line numbers.

Bristol-Myers has an impressive track record, with earnings. The company’s earnings surpassed expectations in each of the last four quarters, with average positive surprise of 35.14%.

Currently, Bristol-Myers has a Zacks Rank #2 (Buy), but that could definitely change following the company’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:

Earnings: Bristol-Myers beat on first-quarter 2016 earnings. The company reported EPS of 74 cents while our consensus called for EPS of 66 cents.

Revenues: Revenues also came in above expectations. Bristol-Myers posted revenues of $4.4 billion, compared to our consensus estimate of $4.2 billion.

Raises 2016 Earnings Outlook: Bristol-Myers raised its earnings outlook for 2016. The company now expects earnings in the range of $2.50 to $2.60 per share (old guidance: $2.30 to $2.40 per share). The Zacks Consensus Estimate for earnings is $2.42 per share.

Check back later for our full write up on this Bristol-Myers earnings report later!

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. https://woas.zacks.com/adv/7stock_report.pdf?ADID=ZACKS_PFP_... blog">Click to get this free report >>


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
BRISTOL-MYERS (BMY): Free Stock Analysis Report
 
To read this article on Zacks.com click here.