Bristol Myers: heavy quarterly loss on charges

(CercleFinance.com) - Bristol Myers Squibb has announced an adjusted (non-GAAP) loss of $4.
40 per share for Q1 2024, compared with EPS of $2.05 a year earlier, despite revenue rising 5% to nearly $11.9bn (+6% at constant exchange rates). NB: pmt -1.9%.

The pharmaceutical company explains this heavy loss by the non-recurring net impact of acquired IPRD charges and license revenues from recently concluded transactions, an impact amounting to $6.30 per share.

These charges have led the group to completely overhall its target range for adjusted EPS for the current year, which it now expects between $0.40 and $0.70, nothing like the previous estimates of $7.10 to $7.40.


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