logo
Plus   Neg
Share
Email

Bristol-Myers Squibb Boosts FY19 Adj. EPS Outlook - Quick Facts

While reporting financial results for the third quarter on Thursday, biopharmaceutical company Bristol-Myers Squibb Co. (BMY) slashed its earnings guidance for the full-year 2019, while raising full year adjusted earnings outlook.

For fiscal 2019, the company now projects earnings in a range of $3.46 to $3.56 per share and adjusted earnings in a range of $4.25 to $4.35 per share.

Previously, the company expected earnings in the range of $3.73 to $3.83 per share and adjusted earnings in the range of $4.20 to $4.30 per share.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $4.28 per share for the year. Analysts' estimates typically exclude special items.

The company said it continues to advance the planned acquisition of Celgene and the transaction closing. The company added that the guidance inclusive of the Celgene acquisition will be provided after the close of the transaction.

For the third quarter, the company reported net earnings attributable to Bristol-Myers Squibb of $1.35 billion, or $0.83 per share, down from $1.90 billion, or $1.16 per share in the prior-year quarter. Adjusted net earnings per share attributable to Bristol-Myers Squibb were $1.17, compared to last year's $1.09.

Bristol-Myers Squibb posted third-quarter revenues of $6.01 billion, an increase of 6 percent from the same period a year ago. Revenues increased 7 percent when adjusted for foreign exchange impact.

Analysts expected quarterly earnings of $1.07 per share on revenues of 5.89 billion.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Delta Air Lines Inc. said Friday that it will invest $1 billion over the next decade to mitigate all greenhouse gas emissions from its global business, starting March 1, 2020. The company intends to become the first airline in the world to go carbon neutral. The airline said that over the next decade, it will spend $1 billion to drive innovation and advance clean-air travel technologies. Crown Castle International Corp. (REIT) (CCI) is currently gaining over 1% on Friday morning. Early this week, a U.S. District judge ruled in favor of Sprint and T-Mobile's long-pending $26 billion merger deal. The judge dismissed a lawsuit brought by a group of State Attorneys General. The deal is... Online furniture retailer Wayfair Inc. is cutting 550 jobs, or about 3 percent of its workforce, reports on Thursday quoted a company spokesperson as saying. The job cuts will impact about 350 employees at Wayfair's corporate headquarters in Boston. The company has more than 16,000 employees globally. Wayfair's shares tumbled 14 percent in Thursday's trading session following news of the job cuts.
Follow RTT
>