Bristol-Myers Squibb Reports Strong First Quarter Results with Celgene Acquisition

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "The last time Bristol-Myers Squibb& nbsp;(NYSE: BMY) announced its quarterly results, there were several positive points for investors. Revenues rose 10% from one year to the next and revenues up 38%. "Data-reactid =" 11 "> Last time Bristol-Myers Squibb (NYSE: BMY) announced its quarterly results, there were several positive points for investors. Revenues rose 10% from one year to the next, while profits rose 38%.

Bristol-Myers Squibb presented its first quarter update before the market opens on Thursday. The big pharmaceutical company has once again had a lot of good news for investors. Here is what you need to know about the first quarter results of the company.

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Source of the image: Getty Images.

In numbers

Bristol-Myers Squibb announced a $ 5.9 billion business turnover in the first quarter, an increase of 14% over the $ 5.2 billion recorded in the same quarter of the previous year . The company's revenues were above the $ 5.76 billion average analysts' average earnings.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "The company GAAP& nbsp; In the first quarter, net earnings were $ 1.7 billion, or $ 1.04 per share. This was an improvement over the Bristol-Myers Squibb result over the prior year, when the company reported GAAP net income of $ 1.5 billion, or $ 0.91 per share. The Company's first quarter net earnings GAAP of $ 1.7 billion, or $ 1.04 per share, is an improvement over Bristol-Myers' results. Squibb versus the prior year, when the company reported GAAP net income of $ 1.5 billion, or $ 0.91 per share.

What did Bristol-Myers Squibb's non-GAAP adjusted net income look like in the first quarter? The company announced adjusted earnings of $ 1.8 billion, or $ 1.10 per share, versus $ 1.5 billion, or $ 0.94 per share, for the same period last year. This slightly exceeds the estimate of average earnings of analysts by $ 1.09 per share.

Behind the numbers

The strong performance of Bristol-Meyers Squibb in the first quarter stems mainly from the growth of its large blockbusters. Eliquis Blood Diluent sales jumped 28% in the first quarter to $ 419 million. Sales of the company's powerful Opdivo immunotherapy have increased by 19% in one year, reaching $ 290 million. The fastest growth, however, was generated by the cancer drug Yervoy, whose first-quarter sales rose 54% to $ 384 million.

The pharmaceutical company also recorded a respectable growth in sales of several other leading drugs. Sales of Sprycel, a drug against leukemia, rose 5% over the previous year to $ 459 million, while sales of Orencia, a drug for rheumatoid arthritis, increased by 8% , to reach 640 million dollars.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Probably the most important news for Bristol- Myers Squibb after the end of the first quarter.The shareholders of the company voted in favor of the approval of the waiting for the acquisition of Celgene (NASDAQ: CELG). The transaction is expected to close in the third quarter of this year. & Nbsp; "data-reactid =" 32 "> The most important announcement for Bristol-Myers Squibb was probably made after the end of the first quarter.The shareholders of the company voted in favor of its approval. of Celgene (NASDAQ: CELG). The transaction is expected to close in the third quarter of this year.

Look to the front

Bristol-Myers Squibb has increased its GAAP Earnings Per Share (EPS) guidance for fiscal 2019. The Company now expects GAAP EPS to increase from $ 3.84 to $ 3. $ 94. It confirmed its previous guidance for non-GAAP adjusted EPS between $ 4.10 and $ 4.20.

Managing Director Giovanni Caforio expressed his optimism as to how the rest of 2019 would unfold. "We are focused on our integration planning with Celgene and the creation of a leading biopharmaceutical company, with leading potential drugs and best drugs, to meet the unmet needs of our customers. patients and create a long-term relationship. " substantial growth. "

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = " More from The Motley Fool "data-reactid =" 36 "> More from The Motley Fool

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Keith Speights holds shares in Celgene. The Motley Fool owns shares and recommends Celgene. The Motley Fool has a disclosure policy."data-reactid =" 44 ">Keith Speights owns shares in Celgene. The Motley Fool owns shares and recommends Celgene. Motley Fool has a disclosure policy.