Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Benzinga
Benzinga
Technology
Vandana Singh

Bristol Myers Q4 Revenue, FY22 Sales Outlook Lag Consensus

Bristol Myers Squibb & Co (NYSE:BMY) has posted Q4 revenues of $11.98 billion, an increase of 8%, missing the consensus estimate of $12.08 billion. 

  • Eliquis, immuno oncology, and new product portfolios drove sales growth.
  • Eliquis sales increased 18% to $2.67 billion, Opdivo sales increased 11% to $1.98 billion, and Yervoy sales clocked a 16% jump to $545 million.
  • Adjusted EPS of $1.83 came ahead of the consensus of $1.80 and 25% higher than $1.46 posted a year ago.
  • U.S. revenues increased 11% to $7.5 billion, and International revenues increased 4% to $4.5 billion.
  • Gross margin increased from 73.7% to 80.3%, primarily due to an impairment charge related to marketed product rights and lower unwinding of inventory purchase price accounting adjustments.
  • Bristol Myers announced an additional $15 billion buyback in December and raised its quarterly dividend.
  • In the Q4 earnings release, the Company said that $5 billion of the share buyback would be executed during Q1 FY22.
  • FY22 Guidance: Bristol Myers reaffirmed the EPS guidance of $7.65 - $7.95, compared to the consensus of $7.86.
  • Revenues are expected to be approximately $47 billion, representing an increase in the low-single digits and below the consensus of $47.75 billion.
  • Sales from key loss of exclusivity brands, which represent Revlimid and Abraxane, are expected to be approximately $10.5 billion. Revlimid sales are expected to be $9.5-$10 billion.
  • Continuing Business is expected to grow in the low-double digits and contribute approximately $36.5 billion in FY22.
  • The adjusted gross margin is expected to be approximately 78%.
  • Price Action: BMY shares are up 0.64% at $64.48 during the premarket session on the last check Friday.
Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.