Earnings Call
Apr 30, 2026
Q1 FY2026
EPS Estimate
1.42
EPS Actual
1.58
Post-Earnings Close
$60.59
Earnings Reaction
+5.2%
Bristol-Myers Squibb opened 2026 with revenue of approximately $11.5 billion, up 1% year-over-year, and non-GAAP diluted EPS of $1.58, comfortably ahead of the $1.44 consensus estimate. Management indicated the business is tracking toward the upper end of full-year guidance ranges on both revenue and EPS, a meaningful signal given the company's historically cautious tone on forward projections. The growth portfolio, now generating $6.2 billion in quarterly revenue, up 9%, is the central narrative: Reblozyl, Breyanzi, Opdualag, Camzyos, Sotyktu, and Cobenfy are all contributing, and management was explicit that these assets remain early in their commercial life cycles. Breyanzi's 53% growth and Camzyos' near-doubling to $314 million were standout performers, while Eliquis delivered 13% growth to $4.1 billion, though a portion of that reflected wholesaler inventory build ahead of the U.S. list price reduction that took effect at the start of the year, a reversal expected in Q2.
Report generated on May 3, 2026
AI-generated earnings analysis. Not investment advice.
Chief Executive Officer
The quarter's results reflected a combination of company-specific execution and broader sector dynamics, with management addressing several of the key debates that analysts had flagged heading into the print. Guidance commentary pointed to continued momentum in the core segments, while questions on margins and capital allocation drew more nuanced responses from the leadership team over the course of the call.
The quarter's results reflected a combination of company-specific execution and broader sector dynamics, with management addressing several of the key debates that analysts had flagged heading into the print. Guidance commentary pointed to continued momentum in the core segments, while questions on margins and capital allocation drew more nuanced responses from the leadership team over the course of the call.
The quarter's results reflected a combination of company-specific execution and broader sector dynamics, with management addressing several of the key debates that analysts had flagged heading into the print. Guidance commentary pointed to continued momentum in the core segments, while questions on margins and capital allocation drew more nuanced responses from the leadership team over the course of the call.
Read the full BMY analysis
The complete report, with key themes, analyst Q&A summary, notable quotes, and market context — is free with an account. No password, no card.