Bristol-Myers Squibb Co. (NYSE:BMY) shares are up on Thursday as the company reported its second-quarter financial results for 2026.
• Bristol-Myers Squibb stock is showing upward movement. Why are BMY shares climbing?
The U.S. large pharma company reported adjusted earnings of $2.04, beating the Wall Street estimate of $1.59.
Sales of $12.973 billion increased 6%, surpassing the consensus of $11.745 billion.
“We are building from a position of strength and progressing a differentiated pipeline designed to generate long-term value. As a result of our consistent execution and continued momentum, we are raising our 2026 full-year outlook,” said Christopher Boerner, board chair and CEO, Bristol Myers Squibb.
Growth and Legacy Portfolios Performance
Growth Portfolio revenues of $7.6 billion increased 15% (+14% on constant currency), primarily driven by Opdivo Qvantig, Reblozyl, Camzyos, Breyanzi and Opdualag.
Legacy Portfolio revenues of $5.4 billion decreased 4% (-5%). Demand increased for Eliquis, which was more than offset by expected continued generic impacts across the remainder of the Legacy Portfolio.
Key products like Reblozyl, Breyanzi, Camzyos, Opdualag, and Qvantic showed double-digit growth, contributing significantly to the growth portfolio.
Lead cancer drug, Opdivo, generated sales of $2.49 billion, down 3%. Eliquis (blood thinner) sales reached $4.48 billion, up 22%.
Bristol Myers Raises 2026 Sales and Earnings Guidance
In an earnings conference call, Boerner said, “We’re also advancing a broad and differentiated pipeline while maintaining financial flexibility to invest in the highest value opportunities for patients and shareholders.”
Bristol-Myers raised its fiscal 2026 adjusted earnings guidance from $6.05-$6.35 per share to $6.75-$7 per share, compared to the consensus of $6.34 per share.
The company also raised its fiscal 2026 sales guidance from $46 billion-$47.50 billion to $49 billion-$50 billion versus the consensus of $47.472 billion.
The updated guidance includes continued Growth Portfolio strength, with a 4%-6% decline in Legacy Portfolio.
The company expects 20% to 25% growth in global Eliquis revenue in 2026.
BMY Stock Price Activity: Bristol-Myers Squibb shares were up 2.38% at $64.56 at the time of publication on Thursday, according to Benzinga Pro data.
Photo: Shutterstock
Login to comment