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.
Can your portfolio provide you with enough income to last through retirement? You'll need more than Bristol-Myers Squibb. Learn how to maximize your investment income and "Secure Your Future With 9 Rock-Solid Dividend Stocks." Click here for instant access to this free report.
- Add Bristol-Myers Squibb to My Watchlist.
Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.