Bristol Myers: adjusted EPS down 10% in Q3

(CercleFinance.com) - Bristol Myers reports third-quarter sales of $11.
89 billion, up 8% on the same period a year earlier.

At the same time, the company reported adjusted net earnings of $3.7 billion (vs. $4.1 billion a year earlier), giving adjusted EPS of $1.8, down 10%.

' We made significant progress in the third quarter with the landmark approval of Cobenfy in the U.S. for schizophrenia, continued sales momentum, solid cash flow generation and key achievements in our pipeline,' said Christopher Boerner, Chief Executive Officer of Bristol Myers Squibb.

"We are focused on year-end with solid execution as we execute our growth portfolio, focus on high-growth opportunities and continue to deliver transformational patient outcomes,' he added.

Against this backdrop, Bristol Myers is raising its sales guidance for 2024 to around +5% (+6% currency-adjusted), with a non-GAAP EPS range of $0.75 to $0.95 (vs. $0.6 to $0.9 previously).

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