Bristol Myers' first-quarter performance and raised annual guidance are encouraging. However, we recommend investors to stay on the sidelines as generic competition for legacy drugs and recent pipeline setbacks weigh on the stock.
Bristol-Myers Squibb's Q1 2025 results confirm that the stock has significant potential upside now. The company's Growth Portfolio showed healthy sales increase, while the non-GAAP EPS surprised positively, beating estimates by 20%. BMS upgraded its 2025 guidance a bit too, reducing expected revenue shrinkage to 4.1% and raising non-GAAP EPS expectations by 2.24%.
BMY beats on both earnings and sales in the first quarter of 2025. The company raises its guidance for the full year.
Bristol-Myers Squibb Company (NYSE:BMY ) Q1 2025 Earnings Conference Call April 24, 2025 8:00 AM ET Company Participants Chuck Triano - SVP and Head of IR Chris Boerner - Board Chair and CEO David Elkins - CFO Adam Lenkowsky - CCO Samit Hirawat - CMO and Head of Global Drug Development Conference Call Participants Chris Schott - JPMorgan Mohit Bansal - Wells Fargo Luisa Hector - Berenberg Geoff Meacham - Citi Evan Seigerman - BMO Capital Terence Flynn - Morgan Stanley Trung Huynh - UBS Courtney Breen - Bernstein Tim Anderson - Bank of America David Risinger - Leerink Partners Carter Gould - Cantor Steven Scala - TD Cowen Zach Dunn - Guggenheim Asad Haider - Goldman Sachs Matt Phipps - William Blair Sean McCutcheon - Raymond James Kripa Devarakonda - Truist Securities James Shin - Deutsche Bank Operator Good day, and welcome to the Bristol Myers Squibb First Quarter 2025 Earnings Conference Call. All participants will be in a listen-only mode.
Bristol-Myers Squibb Company's Q1 2025 earnings show a 6% YoY revenue decline but improved EPS, with upgraded full-year guidance and a strong dividend yield of over 5%. BMY's growth portfolio is nearing 50% of revenues, but legacy assets and unmet peak revenue forecasts for new drugs raise concerns. Cobenfy's recent trial failure and underperformance of key assets like Sotyktu and Abecma contribute to a cautious outlook, prompting a rating downgrade to "Hold."
The headline numbers for Bristol Myers (BMY) give insight into how the company performed in the quarter ended March 2025, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
Bristol Myers Squibb (BMY) came out with quarterly earnings of $1.80 per share, beating the Zacks Consensus Estimate of $1.51 per share. This compares to loss of $4.40 per share a year ago.
Bristol Myers sees revenue decline in its legacy drug portfolio due to competition and Medicare headwinds.
Bristol Myers Squibb beat first-quarter estimates and hiked its revenue and profit guidance for the year, as the drugmaker cuts costs. The company said its guidance revisions include the estimated impact of current tariffs on U.S. products shipped to China, but not President Donald Trump's planned duties on pharmaceuticals imported into the U.S.
Cobenfy failed to show statistically significant improvement as an adjunctive treatment for schizophrenia, the company said in a statement.
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Besides Wall Street's top -and-bottom-line estimates for Bristol Myers (BMY), review projections for some of its key metrics to gain a deeper understanding of how the company might have fared during the quarter ended March 2025.