Bristol-Myers Squibb Beat Estimates but Cut EPS Guidance in Q3 2026
As seen on the 24/7 Wall St. homepage on October 29, 2026.
Bristol Myers Squibb cut full-year adjusted EPS guidance to $6.35 to $6.55 from $6.75 to $7.00 even though both lines topped expectations, a split driven by acquired IPRD charges while the revenue outlook went up. Keep an eye on the stock as investors weigh the dealmaking hit.
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Bristol-Myers Squibb posted adjusted EPS of $1.35 in Q3 2026, beating expectations for a sixth straight quarter.
Acquired IPRD charges of $1.56 billion are the direct reason management trimmed full-year non-GAAP EPS guidance, even as the revenue outlook moved higher.
Eliquis was the standout, growing 25% worldwide on strong U.S. demand, while generic competition kept carving up legacy drugs such as Revlimid and Pomalyst/Imnovid.
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CEO Christopher Boerner highlighted the recent FDA approval of Zenbexus, a first-in-class CELMoD for multiple myeloma, with Phase 3 PFS data and a mezigdomide PDUFA date set for May 13, 2027 still ahead.
Share repurchase authorization of roughly $5 billion remains, so the balance sheet still has tools available against a lower EPS guide driven by deal-related charges.