BMY
Bristol-Myers Squibb Company54.23
-0.06-0.11%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Pipeline catalysts confidently reaffirmed
Q&A largely reaffirmed prepared remarks on growth portfolio momentum and 2026 guidance, but execs voiced heightened confidence in 10+ pivotal readouts like CELMoDs, milvexian AFib (blinded bleeding rates reassuring), and IPF LPA1 (hypotension managed). Eliquis set for 10-15% growth via pricing reset nixing inflation penalties, yet $1.5-2B 2027 step-down looms from EU LOE. BD prioritizes core areas over metabolics. No walk-backs. Pipeline delivers or disappoints.
Key Stats
Market Cap
110.40BP/E (TTM)
18.26Basic EPS (TTM)
2.97Dividend Yield
0.05%Recent Filings
10-K
FY2025 results
Bristol-Myers Squibb held revenues flat at $48.2B for FY2025 ended December 31, 2025, with Growth Portfolio surging 17% to $26.4B on Opdivo (+8%), Reblozyl (+31%), Breyanzi (+82%), and new launches like Cobenfy, yet Legacy Portfolio sank 15% to $21.8B from Revlimid (-49%), Pomalyst (-23%), and Sprycel (-62%) generic hits. Q4 momentum shone in cell therapies and IO combos with multiple approvals, but U.S. rebates spiked GTN to 47%. Net debt eased to $34B after $14B operating cash flow funded dividends; no buybacks. IRA pricing caps loom on Eliquis and others. Patent cliffs threaten quarterly uptake.
8-K
Q4 revenues up 1%, Growth +16%
Bristol-Myers Squibb posted Q4 revenues of $12.5B, up 1% YoY, with Growth Portfolio surging 16% to $7.4B while Legacy dropped 15% to $5.1B. Full-year revenues held flat at $48.2B, non-GAAP EPS hit $6.15. Growth Portfolio powers ahead. Guides 2026 revenues ~$46.0-47.5B, non-GAAP EPS $6.05-6.35 amid Legacy erosion.
8-K
Growth Portfolio surges 17%
Bristol-Myers Squibb posted an investor presentation at the J.P. Morgan Healthcare Conference on January 12, 2026, highlighting 2025 Growth Portfolio sales up 17% and four assets exceeding $1B annualized. Pipeline boasts multi-billion-dollar potentials like milvexian and pumitamig, with significant NME data slated for 2026. Momentum builds. Execution drives 10+ launches by 2030.
8-K
Tender offers accept $7.5B notes
8-K
€5B euro notes offering completed
Bristol-Myers Squibb's Irish subsidiary completed a €5 billion euro-denominated notes offering on November 10, 2025, issuing senior unsecured notes maturing 2030-2055 at rates from 2.973% to 4.581%, fully guaranteed by the company. Proceeds, plus $3.0 billion cash, will fund a tender offer to repurchase existing notes, cover fees, and general purposes. Contains standard covenants and redemption options.
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