Key Takeaways:
- BMY Q2 2026 earnings beat Wall Street estimates across revenue and profit.
- Full-year 2026 revenue and profit guidance raised on strong drug sales.
- Eliquis, Camzyos, and Reblozyl drove the quarter's outperformance.
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Bristol Myers raises 2026 forecast as Eliquis, newer drugs drive Q2 beat
Bristol Myers Squibb reported Q2 2026 results that beat Wall Street estimates, driven by strong sales of blood thinner Eliquis and newer drugs Camzyos and Reblozyl.
"The results reflect strong commercial execution across our portfolio," Chief Executive Officer Chris Boerner said in a statement. "Our newer medicines are gaining traction and contributing to growth."
The company raised its full-year 2026 revenue and profit forecast. BMY now expects higher revenue and adjusted earnings per share for the year, though specific revised figures were not yet disclosed in the preliminary release. The company generated $48.48 billion in trailing 12-month revenue and $7.27 billion in net income, with a profit margin of 15 percent and diluted EPS of $3.57.
Eliquis, the anticoagulant co-marketed with Pfizer, remains a key growth driver despite looming generic competition expected in the coming years. Camzyos, approved for symptomatic obstructive hypertrophic cardiomyopathy, and Reblozyl, for anemia in myelodysplastic syndromes, are among the newer products gaining market share. BMY also markets Opdivo for oncology indications, Orencia for rheumatoid arthritis, Cobenfy for schizophrenia, and Breyanzi for large B-cell lymphoma.
Shares of Bristol Myers trade on the New York Stock Exchange at about $60.83, near the top of their 52-week range of $42.52 to $62.89. The stock carries a market capitalization of roughly $124 billion and trades at 17 times trailing earnings, with a forward P/E of 9.6 reflecting expected earnings growth. The company pays a forward dividend yield of 4.15 percent and has generated $9.85 billion in levered free cash flow over the trailing 12 months. Analysts have a 12-month price target of $62.96, implying modest upside from current levels.
The guidance raise shows management expects continued momentum from both established and newer products. The next catalyst for investors will be the earnings call, where management is expected to provide updated segment-level margins and pipeline milestones for key assets including subcutaneous Opdivo Qvantig and the schizophrenia drug Cobenfy.
This article is for informational purposes only and does not constitute investment advice.
