Bristol-Myers Squibb Company (NYSE:BMY) delivered a profit and met Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 0%.
Bristol-Myers Squibb Company Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 8.33% to $0.44 in the quarter versus EPS of $0.48 in the year-earlier quarter.
Revenue: Decreased 8.89% to $4.05 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Bristol-Myers Squibb Company reported adjusted EPS income of $0.44 per share. By that measure, the company missed the mean analyst estimate of $0.44. It beat the average revenue estimate of $4.04 billion.
Quoting Management: “In the second quarter, the strength in the performance of some of our key products, the important data we presented across our portfolio and the key regulatory filings we made in the U.S. strengthen our confidence as we build a solid foundation for future growth,” said Lamberto Andreotti, chief executive officer, Bristol-Myers Squibb. “We will continue to invest the necessary resources across our portfolio to grow existing brands, support the execution of new launches and deliver a diverse and sustainable pipeline,” Andreotti said.
Key Stats (on next page)…
Revenue increased 5.66% from $3.83 billion in the previous quarter. EPS increased 7.32% from $0.41 in the previous quarter.
Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.47 to a profit $0.46. For the current year, the average estimate has moved down from a profit of $1.82 to a profit of $1.79 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)