Bristol-Myers Squibb Company Earnings Recaps
Q1 2026
May 1, 2026
Bristol-Myers Squibb's Q1 2026 results came in roughly as expected, with the stock closing up 1.1% post-earnings. Management highlighted solid year-over-year growth in the key portfolio and reiterated progress in R&D and pipeline milestones.
Key takeaways
- Growth portfolio sales increased 9% year-over-year, with broad contributions from multiple early-life-cycle assets.
- Eliquis performed in line with the company's previously provided range.
- Regulatory and clinical milestones included positive Phase III results for key pipeline assets (iberdomide, mozigimide, and ADC candidates), with full data presentations and regulatory submissions planned for later in the year.
- Management reiterated focus on improving R&D productivity, targeting faster lead molecule identification and a 30% reduction in development cycle times.
- The company remains on track to deliver its remaining $2 billion in cost savings by end of 2027, supporting ongoing investment in R&D and business development.
Q3 2025
Oct 31, 2025
Bristol-Myers Squibb demonstrated robust Q3 performance, with a 17% year-over-year revenue increase driven by strong demand across its growth portfolio, prompting an upward revision of the top-line guidance.
Key takeaways
- Growth portfolio sales surged 17% year-over-year, supported by strong performance from key products including Reblozyl, Camzyos, and Breyanzi.
- Clinically significant progress with Iberdomide in multiple myeloma showed improved MRD negativity rates, with ongoing studies expected to yield further data by 2026.
- Successful launches of new products Cobenfy and Qvantig, with Cobenfy continuing to receive positive market feedback contributing to solid early growth.
- Breakthrough therapy designation for Iza-bren highlights the pipeline's potential in addressing unmet medical needs, particularly in oncology and neurology.
- Acquisition of Orbital Therapeutics enhances the cell therapy division and introduces novel RNA technology that could innovate treatment approaches in autoimmune diseases.