Bristol-Myers Squibb Reaffirms FY21 Adj. EPS Outlook - Quick Facts

(RTTNews) - While reporting financial results for the second quarter on Wednesday, biopharmaceutical company Bristol-Myers Squibb Co. (BMY) reaffirmed its adjusted earnings and revenue growth guidance for the full-year 2021.

For fiscal 2021, the company now projects earnings in a range of $3.18 to $3.38 per share, up from the prior forecast of $2.77 to $2.97 per share, and reaffirms adjusted earnings in the range of $7.35 to $7.55 per share on revenues between $40.5 billion and $42.5 billion. Worldwide revenue is expected to increase in the high-single digits.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $7.46 per share on revenues growth of 8.4 percent to $46.11 billion for the year. Analysts' estimates typically exclude special items.

For the second quarter, the company reported net income attributable to Bristol-Myers Squibb of $1.1 billion or $0.47 per share, compared to net loss of $85 million, or $0.04 per share in the prior-year quarter. Excluding items, adjusted net earnings per share for the quarter was $1.93, compared to last year's $1.63.

Bristol-Myers Squibb posted second-quarter revenues of $11.70 billion, an increase of 16 percent from the same period a year ago. Revenues increased 13 percent when adjusted for foreign exchange impact.

Analysts expected quarterly earnings of $1.91 per share on revenues of $11.33 billion for the quarter.

U.S. revenues increased 14 percent to $7.4 billion and international revenues increased 18 percent to $4.3 billion from last year.