Categories AlphaGraphs, Analysis, Health Care

Bristol-Myers Squibb reports Q4 earnings on Jan 24. What to expect

Only two weeks after announcing its massive acquisition of Celgene Corporation, drug-maker Bristol-Myers Squibb (BMY) is all set to report fourth-quarter results on Thursday, January 24.

Analysts expect the company to post earnings of 85 cents per share on a top-line of $5.98 billion during the fourth quarter. During the same period last year, the company had reported earnings of 68 cents per share on revenues of $5.4 billion.

The stock has mostly underperformed in the trailing 52 weeks, declining almost 9%, while the industry recorded a modest growth of 7%.

Bristol-Myers Squibb year over year product sales growth

Throughout last year, its flagship drug – Opdivo – struggled in the cut-throat competition in the oncology market. Despite strong demand, Opdivo, which accounts for about one-fourth of Bristol Myers’ total sales, faced stiff competition from rival Merck’s (MRK) Keytruda.

In the recent quarters though, thanks to a slew of regulatory approvals, Opdivo has been picking up in sales and the fourth quarter figures of the immuno-oncology drug will play a key role in deciding the trading direction.

During the prior- reported quarter, Opdivo outgrew its cardiovascular drug Eliquis in a rare instance. Eliquis is also meanwhile perceived as a growth driver for the company, delivering 35% sales growth in the first nine months. Market observers are expecting this growth trajectory to continue into the fourth quarter.

The top line is likely to get a boost from the label expansion of these products.

In a massive deal, Eli Lilly acquires Loxo Oncology

Also, keep a lookout for management comments on the recent purchase of Celgene during the earnings conference call. The transcript of the entire call will be available here.

On January 3, Bristol-Myers had said that it was acquiring Celgene in a $74-billion cash-and-stock transaction. Shares of Celgene jumped over 30% in the pre-market trading hours following the announcement, while Bristol-Myers Squibb shares plunged about 13%.

 

Listen to publicly listed companies’ earnings conference calls along with the edited closed caption text 

Most Popular

KR Earnings: Kroger Q3 sales, profit increase and top expectations

Department store chain The Kroger Co. (NYSE: KR) on Thursday said its third-quarter sales and adjusted earnings increased year-over-year. The latest numbers also exceeded the market's expectations. Net earnings attributable to

CrowdStrike: Why this cybersecurity stock is a good investment for 2023

CrowdStrike Holdings, Inc. (NASDAQ: CRWD) has steadily expanded its subscriber base over the years, riding the ever-growing demand for cybersecurity solutions. As digital adoption continues -- which accelerated after the

CRM Results: Salesforce Q3 earnings beat; revenues rise 14%

Customer relationship management platform Salesforce, Inc. (NYSE: CRM) on Wednesday reported an increase in third-quarter adjusted earnings, aided by double-digit growth in revenues. The numbers surpassed analysts' predictions. Third-quarter profit,

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top