Bristol-Myers Squibb Forecasts 2024 Adjusted EPS Of $7.10-$7.40 Versus Consensus Of $7.08
Portfolio Pulse from Benzinga Newsdesk
Bristol-Myers Squibb (BMY) forecasts its 2024 adjusted EPS to be in the range of $7.10-$7.40, surpassing the consensus estimate of $7.08. The company expects total 2024 revenues to increase by low single-digits, with a similar increase excluding foreign exchange impacts. Non-GAAP gross margin is anticipated to be around 74%, and non-GAAP operating expenses are also expected to rise by low single-digits.
February 02, 2024 | 12:04 pm
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Bristol-Myers Squibb forecasts a higher-than-expected adjusted EPS for 2024 and anticipates revenue and non-GAAP operating expenses to grow by low single-digits.
The company's forecast of a higher-than-expected adjusted EPS for 2024 suggests a positive outlook, likely leading to increased investor confidence and potentially a rise in stock price in the short term. The expected growth in revenues, despite being modest, along with a stable non-GAAP gross margin, further supports a positive impact on the stock.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100