Bristol-Myers Squibb Boosts 2018 Adj. EPS Outlook - Quick Facts

(RTTNews) - Bristol-Myers Squibb Co. (BMY) on Thursday increased adjusted earnings guidance for the full-year 2018 to a range of $3.35 to $3.45 per share from the prior range of $3.15 to $3.30 per share.

However, the company lowered reported earnings outlook to a range of $2.70 to $2.80 per share from the previously projected range of $3.00 to $3.15 per share.

The company also anticipates worldwide revenues to increase in the mid-single digits.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $3.26 per share on revenue growth of 4.9 percent to 21.79 billion for the year. Analysts' estimates typically exclude special items.

For the first quarter, the company reported net earnings attributable to Bristol-Myers Squibb of $1.5 billion, or $0.91 per share, down from $1.6 billion, or $0.94 per share in the prior-year quarter.

Adjusted net earnings attributable to Bristol-Myers Squibb were $1.5 billion or $0.94 per share, compared to $1.4 billion or $0.84 per share in the year-ago quarter.

Bristol-Myers Squibb posted first-quarter revenues of $5.2 billion, an increase of 5 percent from the same period a year ago. Revenues increased 1 percent when adjusted for foreign exchange impact.

Analysts expected quarterly earnings of $0.85 per share on revenues of 5.24 billion.