logo
Plus   Neg
Share
Email

Bristol-Myers Squibb Guides FY20 In Line With Estimates - Quick Facts

While reporting financial results for the fourth quarter on Thursday, biopharmaceutical company Bristol-Myers Squibb Co. (BMY) initiated earnings and revenue guidance for the full-year 2020, and earnings forecast for the full-year 2021.

For fiscal 2020, the company now projects earnings in a range of $0.75 to $0.95 per share and adjusted earnings in a range of $6.00 to $6.20 per share on revenues between $40.5 billion and $42.5 billion.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $6.16 per share on revenues of $42.2 billion for the year. Analysts' estimates typically exclude special items.

The company also projected adjusted earnings for fiscal 2021 in a range $7.15 to $7.45 per share.

The company noted that all the guidance include the impact of the Celgene acquisition and the Otezla divestiture and assume current exchange rates.

Further, the company announced its board of directors approved an increase of $5 billion to the share repurchase authorization for the company's common stock. This is incremental to the current share repurchase program announced in October 2016 under which the company has approximately $1 billion remaining and increases the company's total outstanding share repurchase authorization under the company's share repurchase program to approximately $6 billion.

For the fourth quarter, the company reported a net loss attributable to Bristol-Myers Squibb of $1.06 billion, or $0.55 per share, compared to net earnings of $1.16 billion, or $0.71 per share in the prior-year quarter. Adjusted net earnings per share attributable to Bristol-Myers Squibb were $1.22, compared to last year's $0.94.

Bristol-Myers Squibb posted fourth-quarter revenues of $7.95 billion, an increase of 33 percent from the same period a year ago. Revenues increased 34 percent when adjusted for foreign exchange impact.

Analysts expected quarterly earnings of $0.88 per share on revenues of $6.14 billion.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
U.S. retailers Best Buy Co. Inc., Abercrombie & Fitch Co., and Dollar Tree Inc. on Tuesday reported results for the third quarter that surpassed analysts' expectations. The upbeat results indicate that retailers have largely recovered from the impact of the coronavirus pandemic just as the holiday season approaches. The companies have also intensified their focused on digital sales. The U.S. Food and Drug Administration approved the first drug to treat primary hyperoxaluria type 1 (PH1), an ultra-rare genetic disorder which causes recurrent kidney stones and loss of kidney function. Alnylam Pharmaceuticals' Oxlumo (lumasiran) in the form of injection lowers urinary oxalate levels in pediatric and adult patients. The U.S. federal government's General Services Administration or GSA has awarded a five-year federal transportation contract, estimated to be worth up to $810 million, to Uber Technologies Inc. and Lyft Inc., according to multiple reports. Under the contract, the ride-hailing companies would provide services to various public agencies and their around 4 million employees across the nation.
Follow RTT