The earnings call reflects a generally positive sentiment with strong growth in the company's key growth portfolio and significant achievements in commercial and R&D milestones. However, challenges remain in the legacy portfolio and impacts from Medicare Part D redesign. The company's strategic focus on operational excellence and financial discipline, along with accelerated R&D productivity, supports a positive outlook.

Company Guidance

During the Bristol-Myers Squibb fourth quarter 2024 earnings call, the company outlined its guidance for 2025, emphasizing a projected revenue of approximately $45.5 billion. Non-GAAP earnings per share are expected to range from $6.55 to $6.85, reflecting the expanded savings program. The company aims to achieve $1 billion of the additional $2 billion in savings by the end of 2025, contributing to its goal of becoming a leaner, more efficient organization. The call highlighted strong performance in 2024, with a 9% increase in fourth-quarter sales, driven by a 23% rise in growth portfolio sales, led by key brands like Reblozyl and Opdivo. Bristol-Myers Squibb also noted significant progress in R&D productivity, achieving milestones ahead of schedule, and plans to continue investing in high-potential growth opportunities.

Strong Fourth Quarter and Full Year Performance

Closed 2024 with strong fourth quarter performance, reflecting another quarter of double-digit percentage increase for the growth portfolio. Full year growth portfolio delivered double-digit revenue growth led by BREYANZI, Krazati, Reblozyl, and Opdivo.

Commercial and R&D Milestones

Reestablished presence in neuroscience with the U.S. approval and launch of Cobenfy, the first novel mechanism for schizophrenia treatment in decades. U.S. approval of Opdivo Quvantic in late December to extend immuno-oncology reach.

Operational Excellence and Financial Discipline

Achieved most of the targeted $1.5 billion in savings, with significant reallocation towards high potential growth opportunities. Identified an additional $2 billion in savings to be realized by the end of 2027.

Accelerated R&D Productivity

Completed enrollment in the ODYSSEY study 6 months earlier than expected. Advanced timelines for clinical data readouts, including Cobenfy's ADEPT 2 study in Alzheimer's disease psychosis.

Promising Data and Pipeline

Multiple important registrational catalysts expected in 2025, including Milvexian in acute coronary syndrome and secondary stroke prevention, and Arlocell GPRC5D CAR-T in multiple myeloma.

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Bristol-Myers Squibb (BMY) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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BMY Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Apr 24, 2025	2025 (Q1)	1.53 / -	-4.4	―	―	―
Feb 06, 2025	2024 (Q4)	1.46 / 1.67	1.7	-1.76% (-0.03)
Oct 31, 2024	2024 (Q3)	1.49 / 1.80	2	-10.00% (-0.20)
Jul 26, 2024	2024 (Q2)	1.62 / 2.07	1.75	18.29% (+0.32)
Apr 25, 2024	2024 (Q1)	-4.41 / -4.40	2.05	-314.63% (-6.45)
Feb 02, 2024	2023 (Q4)	1.55 / 1.70	1.82	-6.59% (-0.12)
Oct 26, 2023	2023 (Q3)	1.76 / 2.00	1.99	0.50% (+0.01)
Jul 27, 2023	2023 (Q2)	1.96 / 1.75	1.93	-9.33% (-0.18)
Apr 27, 2023	2023 (Q1)	1.97 / 2.05	1.96	4.59% (+0.09)
Feb 02, 2023	2022 (Q4)	1.73 / 1.82	1.83	-0.55% (-0.01)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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BMY Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Feb 06, 2025	$59.71	$57.42	-3.84%
Oct 31, 2024	$52.08	$55.16	+5.91%
Jul 26, 2024	$44.28	$49.35	+11.45%
Apr 25, 2024	$47.08	$43.07	-8.52%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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