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

ISRG Earnings: Intuitive Surgical Q2 profit jumps on strong revenue growth

Medical device company Intuitive Surgical, Inc. (NASDAQ: ISRG) announced operating results for the second quarter of 2024, reporting higher revenues and adjusted profit. Second-quarter net profit, excluding one-off items, climbed

Infographic: Halliburton (HAL) reports strong earnings growth for Q2 2024

Energy giant Halliburton Company (NYSE: HAL) Friday announced financial results for the second quarter of 2024, reporting a double-digit increase in net profit. Second-quarter revenue edged up 1% annually to

AXP Earnings: Key quarterly highlights from American Express’ Q2 2024 financial results

American Express Company (NYSE: AXP) reported its second quarter 2024 earnings results today. Consolidated total revenues, net of interest expense, were $16.3 billion, up 8% from a year ago, driven

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