The 10-second takeaway
For the quarter ended March 31 (Q1), Bristol-Myers Squibb met expectations on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue dropped significantly. Non-GAAP earnings per share dropped significantly. GAAP earnings per share dropped significantly.
Margins dropped across the board.
Bristol-Myers Squibb recorded revenue of $3.83 billion. The 14 analysts polled by S&P Capital IQ predicted net sales of $3.88 billion on the same basis. GAAP reported sales were 27% lower than the prior-year quarter's $5.25 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.41. The 17 earnings estimates compiled by S&P Capital IQ forecast $0.42 per share. Non-GAAP EPS of $0.41 for Q1 were 36% lower than the prior-year quarter's $0.64 per share. GAAP EPS of $0.37 for Q1 were 42% lower than the prior-year quarter's $0.64 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 72.3%, 290 basis points worse than the prior-year quarter. Operating margin was 17.6%, much worse than the prior-year quarter. Net margin was 15.9%, 510 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $4.07 billion. On the bottom line, the average EPS estimate is $0.44.
Next year's average estimate for revenue is $16.47 billion. The average EPS estimate is $1.82.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 1,672 members out of 1,788 rating the stock outperform, and 116 members rating it underperform. Among 503 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 486 give Bristol-Myers Squibb a green thumbs-up, and 17 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Bristol-Myers Squibb is hold, with an average price target of $35.91.
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