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Research Alert: Bmy Reports Strong Q1 Results Fueled By Growth Portfolio, Reaffirms Guidance

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-- CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:

BMY delivered solid Q1 2026 results with revenues of $11.5B (+3% Y/Y), $580M above the consensus. Meanwhile, non-GAAP EPS of $1.58 declined 12% Y/Y but beat the consensus by $0.16. Growth Portfolio demonstrated exceptional strength with 12% Y/Y expansion to $6.2B, now representing the majority of total sales versus the Legacy Portfolio at $5.3B (-6% Y/Y). We think the company's diversification strategy is showing clear progress, with standout performances from Camzyos ($314M, +97% Y/Y), Breyanzi ($411M, +56% Y/Y), and continued Eliquis resilience ($4.1B, +16% Y/Y). Management reaffirmed 2026 revenue guidance of $46.0B-$47.5B and non-GAAP EPS guidance of $6.05-$6.35, with performance trending toward upper end of range. We believe the Growth Portfolio momentum positions BMY well for future growth despite Legacy Portfolio headwinds from generic competition, particularly after Revlimid's sharp decline to $349M (-63% Y/Y).

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