Bristol-Myers Squibb Guides FY23 Adj. EPS In Line; Q4 Results Top Estimates

(RTTNews) - While reporting financial results for the fourth quarter on Thursday, biopharmaceutical company Bristol-Myers Squibb Co. (BMY) provided earnings, adjusted earnings and revenue guidance for the full-year 2023.

For fiscal 2023, the company now projects earnings in a range of $4.03 to $4.33 per share and adjusted earnings of $7.95 to $8.25 per share on worldwide total revenue growth of about 2 percent.

On average, 21 analysts polled by Thomson Reuters expect the company to report earnings of $8.0 per share on revenues growth of 2.7 percent to $47.15 billion for the year. Analysts' estimates typically exclude special items.

For the fourth quarter, the company reported net income attributable to Bristol-Myers Squibb of $2.02 billion or $0.95 per share, down from $2.37 billion or $1.07 per share in the prior-year quarter. Excluding items, adjusted net earnings per share for the quarter was $1.82, compared to last year's $1.84.

Total revenues for the quarter declined 5 percent to $11.41 billion from $11.99 billion in the same quarter last year.

Analysts expected quarterly earnings of $1.72 per share on revenues of $11.20 billion for the quarter.

U.S. revenues increased 5 percent to $7.9 billion, while international revenues decreased 22 percent to $3.5 billion from last year.

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