Bristol-Myers Squibb Q1 EPS $1.58, Revenue $11.49B Beat Estimates and Reaffirms 2026 Guidance
BMY•Bristol-Myers Squibb reported Q1 EPS of $1.58, surpassing the $1.42 estimate, and revenue of $11.49 billion, beating the $10.92 billion forecast. Growth Portfolio revenue rose 12% to $6.2 billion while Legacy Portfolio fell 6% to $5.3 billion; full-year EPS guidance reaffirmed at $6.05–$6.35 on $46–$47.5 billion sales.
1. Q1 Financial Performance
Bristol-Myers Squibb delivered first-quarter adjusted EPS of $1.58, topping the $1.42 consensus, and generated $11.49 billion in revenue compared to the $10.92 billion forecast. Net income reached $2.68 billion, or $1.31 per share, reflecting strong core operations.
2. Portfolio Breakdown
The Growth Portfolio achieved $6.2 billion in sales, up 12% year-over-year (9% ex-FX), led by Camzyos, Breyanzi, and Reblozyl. Conversely, the Legacy Portfolio declined 6% to $5.3 billion, driven by generic competition despite increased demand for Eliquis.
3. Geographic Results and Margins
U.S. revenues dipped 1% to $7.8 billion, while international sales climbed 11% (4% ex-FX) to $3.7 billion. Adjusted gross margin contracted to 70.3% from 73.1%, reflecting a shift in product mix toward newer therapies.
4. Full-Year Guidance
Management reaffirmed 2026 guidance with EPS of $6.05–$6.35 against a $6.26 consensus and projected revenue of $46–$47.5 billion versus the $47.12 billion estimate, citing multiple pivotal data readouts and pipeline advancements.
