Bristol-Myers Squibb(US:BMY) ZACKSยท2025-10-27 14:21Core Viewpoint - Bristol-Myers Squibb Company (BMY) is set to report its third-quarter 2025 results on October 30, with sales and earnings estimates at $11.83 billion and $1.51 per share respectively. Recent earnings estimates for 2025 and 2026 have seen slight declines [1][5]. Financial Performance - The earnings estimate for 2025 has decreased from $6.50 to $6.39 per share over the past 30 days, while the estimate for 2026 has dropped from $6.04 to $6.03 [1]. - BMY has a strong earnings surprise history, beating estimates in the last four quarters with an average surprise of 22.71%, including a 36.45% beat in the most recent quarter [2][3]. Sales Drivers - The growth portfolio, including drugs like Opdivo, Camzyos, and Reblozyl, is expected to support revenue growth, while generic pressures on legacy drugs like Eliquis and Revlimid may negatively impact overall revenues [5][12]. - Opdivo sales are estimated at $2.43 billion, with strong demand driven by label expansions in new indications [7]. - Reblozyl is experiencing solid growth in both U.S. and international markets, with sales estimates at $583 million [9][10]. - Camzyos and Breyanzi are also expected to show strong sales growth due to increased demand [11][12]. Market Position and Valuation - BMY's shares have underperformed, losing 18.7% year-to-date compared to the industry growth of 11.1% [16][17]. - The current price/earnings ratio for BMY is 7.19x forward earnings, lower than the industry average of 15.59x [18]. Strategic Initiatives - BMY has made strategic acquisitions to enhance its product portfolio, which are beginning to yield results, although the company carries significant debt from these acquisitions [22][23]. - The recent approval of Cobenfy for schizophrenia broadens BMY's portfolio and validates its acquisition of Karuna Therapeutics [22]. - BMY has collaborated with BioNTech for the co-development of a bispecific antibody, sharing development costs and profits equally [24].