Bristol Myers: adjusted EPS down 10% in Q3

(CercleFinance.com) - Bristol Myers reports Q3 sales of $11.
89bn, up 8% y-o-y. cp +5.4%.

At the same time, the company reported adjusted net earnings of $3.7bn (vs. $4.1bn a year earlier), giving adjusted EPS of $1.8, down 10%. NB pmt +2%.

We made significant progress in the third quarter with the landmark approval of Cobenfy in the US for schizophrenia, continued sales momentum, solid cash flow generation and key pipeline achievements, it notes.

We focus on year-end with solid execution as we execute our growth pipeline, prioritize high-growth opportunities and continue to deliver transformational patient outcomes, it 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).


Copyright (c) 2024 CercleFinance.com. All rights reserved.