# Bristol-Myers Squibb Company (BMY) — Q1-2026 Earnings Results

**Report date:** 2026-04-30 (before market open)  
**Sector:** Health Care / Pharmaceuticals  
**Status:** reported  
**Source:** https://earningsnxt.ai/ticker/BMY/earnings/Q1-2026

## Analyst Estimates

- **Consensus EPS:** $1.42 (range $1.23–$1.53)
- **Consensus revenue:** $10910.94

## Post-Earnings Brief

### Headline

Bristol-Myers Squibb Beats on EPS, Stock Up 5.21%

### Key Numbers

| Metric | Actual | Expected | Surprise |
|---|---|---|---|
| EPS | $1.58 | $1.42 | +9.65% |
| Revenue | N/A | $10.9B | N/A |

### Management Commentary

**Tone:** Unknown

No transcript is on record, and the analysis is based on numerical results only.

### Guidance Changes

No guidance data is available.

### What It Means

Bristol-Myers Squibb reported better-than-expected earnings per share, which contributed to a positive stock reaction, with shares rising by 5.21%. However, revenue figures were not disclosed, leaving some uncertainty about overall performance. Investors may view the EPS beat as a sign of operational strength, but the lack of revenue data could lead to cautious sentiment moving forward.

## Pre-Earnings Brief

### Company Snapshot

Bristol-Myers Squibb Company (BMY) is a leading pharmaceutical company that focuses on discovering, developing, and delivering innovative medicines for serious diseases. As a key player in the health care sector, its performance can significantly impact investor sentiment, especially given ongoing trends in biotechnology and personalized medicine.

### Key Metrics to Watch

- **EPS** (consensus $1.42) — Earnings per share (EPS) is a crucial indicator of the company's profitability and financial health.
- **Revenue** (consensus $10.9B) — Revenue figures provide insight into the company's sales performance and market demand for its products.

### Last Quarter Recap

In Q4 2025, Bristol-Myers Squibb reported an EPS of $1.26, surpassing expectations by 9.28%. The stock reacted positively, gaining 3.30% the following day.

### Wall Street Expectations

Analysts expect Bristol-Myers Squibb to report solid earnings this quarter, with a consensus EPS of $1.42 and revenue of $10.9 billion. The company has a history of exceeding EPS estimates, which could lead to positive market reactions.

**Bull case:** If the company beats EPS estimates and shows strong revenue growth, it could signal robust demand for its products and lead to a significant stock price increase.

**Bear case:** Conversely, if the company misses EPS expectations or shows declining revenue, it could raise concerns about its growth prospects and negatively impact the stock.

### Options Signal

Implied move: **4.5%**

The options market is pricing in a potential move of about 4.5% in either direction following the earnings report, indicating some uncertainty among investors.

### Earnings Track Record

| Quarter | EPS Surprise | 1-Day Reaction |
|---|---|---|
| Q4-2025 | +9.28% | +3.30% |
| Q3-2025 | +10.14% | +7.09% |
| Q2-2025 | -12.63% | -5.81% |
| Q1-2025 | +19.52% | +0.33% |
| Q4-2024 | +14.15% | -3.84% |
| Q3-2024 | +21.05% | +5.91% |
| Q2-2024 | +26.53% | +11.44% |
| Q1-2024 | -387.21% | -8.51% |

### Pivotal Questions

1. **Will the EPS exceed $1.42, indicating continued strong performance?**
   - Why it matters: A beat on EPS could reinforce investor confidence and lead to a positive stock reaction.
2. **What are the revenue figures, and do they align with the $10.9 billion consensus?**
   - Why it matters: Revenue performance is critical for assessing the company's growth trajectory and market demand.

### Thesis Break Levels

- **Bull trigger:** An EPS of $1.50 or higher would confirm the bull case and suggest strong underlying business performance.
- **Bear trigger:** An EPS below $1.30 would support the bear case and raise concerns about the company's growth prospects.

The market is focused on both EPS and revenue growth as indicators of Bristol-Myers Squibb's future performance.

### Scenario Playbook

- **Beat & raise:** If Bristol-Myers Squibb beats expectations, history suggests a positive stock reaction of around +4.04%, confirming strong demand for its products.
- **In-line / cautious:** If the results are in line with expectations, the stock may experience muted movement as investors await further guidance.
- **Miss:** A miss on EPS could lead to a decline in stock price, with historical patterns indicating an average drop of -7.16%.

### What the Street is Missing

The Street may be underestimating the potential for Bristol-Myers Squibb to exceed EPS expectations, given its recent history of strong performance.

**Supporting points:**

- Bristol-Myers has a 75% EPS beat rate over the last eight quarters, indicating a strong likelihood of exceeding expectations.
- The average 1-day move when they beat is +4.04%, suggesting that positive surprises have historically led to significant stock gains.

**Risk to consensus:** If the company reports an EPS below $1.30, it could invalidate the bullish sentiment.

### Setup Pattern Insight

Pattern: **Prior-quarter beat + options pricing cheap in Health Care** (sample size n=30, fade rate 7 of 23 (30%))

This setup has occurred 30 times across Health Care in the last 2 years. 16 of 23 (70%) held or extended their move within 5 days — this setup typically holds direction. The average absolute 1-day move is 4.2%, with a raw directional average of +0.6% (modestly positive historical bias).

### What to Listen For

- Any updates on new drug approvals or pipeline advancements.
- Insights into market demand for key products like Opdivo and Eliquis.
- Management's commentary on cost management and operational efficiencies.
- Guidance on future revenue growth and market expansion strategies.
- Responses to questions about competitive pressures in the pharmaceutical industry.

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_AI-assisted analysis from EarningsNxt. Not financial advice. View full page: https://earningsnxt.ai/ticker/BMY/earnings/Q1-2026_