Bristol Myers Squibb Raises 2021 Adj. Earnings Guidance

(RTTNews) - Bristol Myers Squibb (BMY) increased its 2021 non-GAAP EPS guidance range to $7.35 - $7.55 from $7.15 - $7.45. The company assumes worldwide revenues increasing in the high-single digits. Bristol Myers Squibb also affirmed its 2020-2025 long-term financial target.

Fourth quarter non-GAAP net earnings attributable to Bristol Myers Squibb was $3.3 billion, or $1.46 per share, compared to $2.4 billion, or $1.22 per share, prior year. year. On average, 14 analysts polled by Thomson Reuters expected the company to report profit per share of $1.41, for the quarter. Analysts' estimates typically exclude special items.

Fourth quarter revenues were $11.1 billion, an increase of 39% on a reported basis and 10% on a pro forma basis. The company said the increase was driven primarily by the impact of the Celgene Acquisition, which was completed on November 20, 2019. Analysts expected revenue of $10.73 billion, for the quarter.