NYSE$BMY
Bristol-Myers Squibb Co · Q2 2022 earnings
Q2 2022 earnings · · Investor relations
Briefing
Reported a revenue increase driven by in-line products and new product portfolio, offset by recent LOE products and foreign exchange impacts. GAAP EPS and Non-GAAP EPS were also reported.
Bristol Myers Squibb reported Q2 2022 financial results, showing revenue of $11.9 billion, a 2% increase year-over-year, or 5% when adjusted for foreign exchange. The company posted GAAP EPS of $0.66 and non-GAAP EPS of $1.93. Revenue growth was driven by in-line products and new product portfolio, but was partially offset by recent LOE products and foreign exchange impacts.
- Second quarter revenues were $11.9 billion, a 2% increase year-over-year, or 5% when adjusted for foreign exchange.
- GAAP EPS was $0.66 and non-GAAP EPS was $1.93, including a net impact of ($0.14) per share due to Acquired IPRD charges and licensing income.
- Revenue growth of 11% was achieved from in-line products and the new product portfolio, or 16% when adjusted for foreign exchange.
- The company is expanding its oncology franchise with new indications for Opdivo and the planned acquisition of Turning Point Therapeutics.
Headline financials
Revenue & EPS history
Bristol-Myers Squibb · Revenue · Quarterly
$11.9B
Forward guidance
Bristol Myers Squibb is adjusting its 2022 GAAP and non-GAAP line-item guidance. Total Sales and In-Line Products & New Product Portfolio sales are being adjusted to account for foreign exchange impacts. Non-GAAP gross margin is being increased to approximately 79% primarily due to foreign exchange impacts. Adjusting GAAP EPS guidance primarily due to changes in fair market value of equity investments and reaffirming non-GAAP EPS guidance.
Tailwinds
- Total Net Sales: In-line with 2021 ($46.0 billion)
- Recent LOE Products: ~$10.0 billion or double-digit decline
- Revlimid: $9.0-$9.5 billion
- In-line Products & New Product Portfolio: ~$36.0 billion or Low double-digit increase
- Non-GAAP Tax Rate: ~16.5%
Headwinds
- GAAP Tax Rate: ~23%
- Diluted EPS: $2.71 - $3.01
- Includes YTD net impact of ($0.24) from acquired IPRD and licensing income
- Assumes current exchange rates
- Excludes the impact of any potential future strategic acquisitions and divestitures
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2022
-0.1%
Avg return
Earnings day
+0.5%
Avg return
5 days after
+0.9%
Avg return
30 days after
47%
34 / 73 earnings
Positive
+8.2%
Q2 2024
Best reaction
-9.9%
Q3 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -0.9% | -1.1% | -0.7% | |
| Q4 2025 | +3.3% | +5.6% | +4.6% | |
| Q3 2025 | +7.1% | +7.0% | +15.5% | |
| Q2 2025 | -5.8% | -0.3% | +2.6% | |
| Q1 2025 | +0.4% | +1.4% | -3.5% | |
| Q4 2024 | -3.8% | -6.3% | +2.3% | |
| Q3 2024 | +3.2% | +6.2% | +12.5% | |
| Q2 2024 | +8.2% | +5.1% | +6.3% | |
| Q1 2024 | -8.2% | -10.1% | -15.6% | |
| Q4 2023 | -1.4% | -0.1% | +4.6% | |
| Q3 2023 | -9.9% | -9.0% | -12.1% | |
| Q2 2023 | -3.2% | -3.0% | -2.1% | |
| Q1 2023 | -1.8% | +0.1% | -6.2% | |
| Q4 2022 | +4.5% | +4.6% | -2.7% | |
| Q3 2022 | +2.0% | +5.3% | +8.4% | |
| Q2 2022 | +1.5% | -0.0% | -3.3% | |
| Q1 2022 | -2.7% | -1.2% | -1.4% | |
| Q4 2021 | +3.3% | +4.8% | +8.3% | |
| Q3 2021 | -1.9% | +0.8% | -2.9% | |
| Q2 2021 | +1.0% | +0.8% | -1.3% | |
| Q1 2021 | -5.5% | -3.2% | -0.5% | |
| Q4 2020 | -1.8% | -3.7% | -2.6% | |
| Q3 2020 | -2.5% | -1.4% | -4.8% | |
| Q2 2020 | +2.2% | +5.8% | +0.4% | |
| Q1 2020 | -0.1% | +3.6% | +0.3% | |
| Q4 2019 | +1.0% | +2.1% | -8.1% | |
| Q3 2019 | +0.5% | -0.8% | +0.1% | |
| Q2 2019 | +5.0% | +3.1% | +7.7% | |
| Q1 2019 | +2.8% | +4.1% | +4.9% | |
| Q4 2018 | -2.1% | -3.3% | +2.0% | |
| Q3 2018 | +3.3% | +2.4% | +8.4% | |
| Q2 2018 | -3.6% | -0.5% | +1.6% | |
| Q1 2018 | +1.0% | +1.8% | +2.0% | |
| Q4 2017 | -4.1% | -1.2% | +4.1% | |
| Q3 2017 | -6.3% | -3.7% | -4.0% | |
| Q2 2017 | -1.3% | +0.2% | +4.3% | |
| Q1 2017 | +4.2% | +4.1% | +0.4% | |
| Q4 2016 | -3.7% | -0.8% | +13.9% | |
| Q3 2016 | +3.5% | +3.1% | +15.6% | |
| Q2 2016 | -2.2% | -1.9% | -23.1% | |
| Q1 2016 | +2.8% | — | — | |
| Q4 2015 | +0.7% | — | — | |
| Q3 2015 | +4.7% | — | — | |
| Q2 2015 | -4.9% | — | — | |
| Q1 2015 | -1.3% | — | — | |
| Q4 2014 | -1.8% | — | — | |
| Q3 2014 | +2.0% | — | — | |
| Q2 2014 | +0.1% | — | — | |
| Q1 2014 | -0.5% | — | — | |
| Q4 2013 | -7.8% | — | — | |
| Q3 2013 | -0.7% | — | — | |
| Q2 2013 | -0.8% | — | — | |
| Q1 2013 | -2.8% | — | — | |
| Q4 2012 | +5.1% | — | — | |
| Q3 2012 | +1.5% | — | — | |
| Q2 2012 | +3.1% | — | — | |
| Q1 2012 | -0.6% | — | — | |
| Q4 2011 | +0.9% | — | — | |
| Q3 2011 | -1.3% | — | — | |
| Q2 2011 | +0.2% | — | — | |
| Q1 2011 | -0.0% | — | — | |
| Q4 2010 | -1.5% | — | — | |
| Q4 2007 | -1.5% | — | — | |
| Q3 2010 | -1.1% | — | — | |
| Q2 2010 | -0.4% | — | — | |
| Q1 2009 | +4.0% | — | — | |
| Q1 2010 | +0.7% | — | — | |
| Q4 2009 | -0.6% | — | — | |
| Q3 2008 | -2.0% | — | — | |
| Q3 2009 | -2.0% | — | — | |
| Q4 2008 | +5.5% | — | — | |
| Q2 2008 | +5.5% | — | — | |
| Q2 2009 | +5.5% | — | — |
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