Bristol-Myers Squibb (BMY) To Report Earnings Tomorrow: Here Is What To Expect

Biopharmaceutical company Bristol Myers Squibb (NYSE:BMY) will be reporting results this Thursday morning. Here’s what you need to know.

Bristol-Myers Squibb beat analysts’ revenue expectations by 7.8% last quarter, reporting revenues of $12.27 billion, flat year on year. It was an exceptional quarter for the company, with a beat of analysts’ EPS estimates and a solid beat of analysts’ revenue estimates.

Is Bristol-Myers Squibb a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.

This quarter, analysts are expecting Bristol-Myers Squibb’s revenue to be flat year on year at $11.82 billion, slowing from the 8.4% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.52 per share.Bristol-Myers Squibb Total Revenue

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Bristol-Myers Squibb has a history of exceeding Wall Street’s expectations, beating revenue estimates every single time over the past two years by 4.6% on average.

With Bristol-Myers Squibb being the first among its peers to report earnings this season, we don’t have anywhere else to look to get a hint at how this quarter will unravel for pharmaceuticals stocks. However, there has been positive investor sentiment in the segment, with share prices up 6.1% on average over the last month. Bristol-Myers Squibb is down 2.9% during the same time and is heading into earnings with an average analyst price target of $53.05 (compared to the current share price of $42.88).

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