Bristol-Myers Q4 results are out: this is what the report tells us

Shares of Bristol-Myers Squibb Co (NYSE: BMY) jumped 3.0% on Friday morning after the pharmaceutical giant reported its Q4 results and offered guidance for fiscal 2022.

Q4 financial performance

Bristol-Myers earned $2.4 billion in the fourth quarter that translates to $1.07 per share. In the comparable quarter of last year, it was still in a massive $10 billion loss or $4.45 per share. On an adjusted basis, the pharmaceutical company earned $1.83 in the recent quarter.

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The American multinational generated $11.9 billion in revenue that represents a YoY growth of 8.0%. According to FactSet, experts had forecast $1.80 of adjusted EPS but on a marginally higher $12 billion in revenue.

In the earnings press release, Bristol-Myers said it noted double-digit growth in Eliquis (blood thinner) and Opdivo (oncology treatment), which brought in $2.6 billion and $2.0 billion in revenue, respectively.

In January, Cerity Partners’ Jim Lebenthal said BMY was a buy.

Guidance for fiscal 2022

For the full financial 2022, Bristol-Myers now forecasts its adjusted per-share earnings to fall in the range of $7.65 to $7.95 on roughly $47 billion in revenue. In comparison, analysts were calling for $7.80 of adjusted EPS and $47.2 billion in revenue this year.

The New York-headquartered company reaffirmed its long-term goal of “low- to mid-single-digit” CAGR through 2025. The board authorised $15 billion in stock buybacks, $5 billion of which will be executed in Q1. CEO Giovanni Caforio said:

I’m confident in our ability to execute against our key milestones in 2022, including three planned first-in-class launches with relatlimab plus nivolumab fixed-dose combination, mavacamten and deucravacitinib. Our financial strength, dedicated workforce and proven ability to execute will enable us to continue to advance our pipeline, invest in future sources of innovation and position the company for sustained growth.

Bristol-Myers’ Abecma received approval for multiple myeloma in Japan last month.