Earnings Preview: Bristol Myers Squibb

Bristol Myers Squibb (BMY) is expected to report Q3 earnings before market open Thursday, October 23, with a conference call scheduled for 10:30 am EST.

Guidance

Analysts are expecting a profit of 42c on revenue of $5.23B. The consensus range for EPS is 38c to 43c, with a revenue range of $5.11B to $5.31B, according to First Call. For Q2 the company reported EPS 43c vs. consensus of 40c and Q2 revenue $5.25B vs. consensus of $5.09B. Plavis and Abilify sales should be positive drivers to sales. Slowing sales in off patent products could be significant to overall revenue growth.

Analyst Views

On October 8, Merrill Lynch upgraded Bristol Myers' shares to Buy from Underperform, citing valuation.