Bristol-Myers Squibb Guides FY24 Adj. EPS Above Estimates As Q4 Results Top Estimates - Update

(RTTNews) - While reporting financial results for the fourth quarter on Friday, biopharmaceutical company Bristol-Myers Squibb Co. (BMY) initiated its adjusted earnings and revenue growth guidance for the full-year 2024.

For fiscal 2024, the company now projects adjusted earnings in a range of $7.10 to $7.40 per share on a worldwide total revenue growth in the low single-digits.

On average, 23 analysts polled by Thomson Reuters expect the company to report earnings of $7.00 per share on revenues growth of 1.9 percent to $45.58 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 $1.76 billion or $0.87 per share, lower than $2.02 billion or $0.95 per share in the prior-year quarter. Excluding items, adjusted net earnings per share for the quarter was $1.70, compared to last year's $1.82.

Total revenues for the quarter declined 1 percent to $11.48 billion from $11.41 billion in the same quarter last year.

Analysts expected quarterly earnings of $1.53 per share on revenues of $11.19 billion for the quarter.

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