GET DAILY SIGNALSBristol Myers Squibb (BMY) Posts +7% Revenue Growth in Q3, Raises Guidance
Key Takeaways
- Total revenue rose 7% year over year to $13.07 billion, topping the consensus estimate of roughly $12.72 billion.
- Adjusted earnings per share (EPS) came in at $1.35, comfortably above the $1.09 analysts had expected.
- Growth Portfolio revenue climbed 12% to $7.7 billion, driven by brands such as Breyanzi, Reblozyl, Camzyos, and Opdivo Qvantig.
- The company raised its full-year 2026 revenue guidance to a range of $49.75 billion to $50.25 billion.
- Adjusted gross margin declined to 68.4% from 72.9% a year earlier, reflecting product mix and a one-time contract termination charge.
- Shares rose more than 2% following the announcement.
Why the Quarter Matters for the Portfolio Shift
Bristol Myers Squibb’s third-quarter results provide a useful snapshot of how the company is handling the move away from its Legacy Portfolio and toward a newer, faster-growing lineup of medicines. The period showed whether double-digit momentum in the Growth Portfolio could offset generic pressure on older blockbusters such as Revlimid and the shift of Opdivo sales into the newer Opdivo Qvantig formulation. With Eliquis facing a loss of exclusivity in Europe later this year, I’m watching closely to see how the company intends to keep revenue and profitability on track as patent protection fades on some of its biggest products.
Breaking Down the Reported Numbers
Bristol Myers Squibb reported third-quarter 2026 revenue of $13.07 billion, up 7% from $12.22 billion in the prior-year period and ahead of the $12.72 billion consensus estimate. Adjusted earnings per share (EPS) reached $1.35, beating the $1.09 analysts had projected, while GAAP diluted EPS came in at $1.05. I also checked this using Tickeron’s AI Screener to see how the stock compares to others in the industry.
Growth Portfolio revenue increased 12% to $7.7 billion, supported by strong performances from Breyanzi (up 48% to $526 million), Reblozyl (up 22% to $750 million), and Camzyos (up 42% to $420 million). The Legacy Portfolio grew 1% to $5.4 billion, with Eliquis rising 25% to $4.69 billion. Adjusted gross margin declined to 68.4% from 72.9%, reflecting a change in product mix and a one-time charge tied to a contract termination.
Management raised its full-year 2026 revenue outlook to a range of $49.75 billion to $50.25 billion, up from the prior $49.0 billion to $50.0 billion. The company also updated its adjusted EPS guidance to $6.35–$6.55, which incorporates a negative $0.60 per-share impact from acquired in-process research and development (IPR&D) charges and licensing income.
Market Reaction and Investor Sentiment
The market responded positively to the report, with Bristol Myers Squibb shares rising more than 2% following the announcement. Investors appeared encouraged by the top- and bottom-line beats, the 12% growth in the Growth Portfolio, and the upward revision to full-year revenue guidance. At the same time, the decline in adjusted gross margin and the updated EPS guidance midpoint of $6.45—slightly below the $6.49 analyst consensus—tempered some of the enthusiasm, reflecting ongoing pressure from product mix shifts and the near-term Eliquis exclusivity headwind in Europe.
Forward Outlook and Key Factors to Monitor
Looking ahead, investors will be watching several catalysts that could shape Bristol Myers Squibb’s trajectory over the coming quarters. First is the Eliquis loss of exclusivity in Europe during the fourth quarter, which management has flagged as a potential $1.5 billion to $2 billion step-down in revenue. How quickly the broader portfolio offsets that decline will be a central theme. From what I see, pipeline execution will be equally important.
Second, the company’s late-stage pipeline continues to advance. Recent positive readouts for Zenbexus (iberdomide) in relapsed/refractory multiple myeloma, admilparant in idiopathic pulmonary fibrosis, and arlo-cel in relapsed and refractory multiple myeloma add potential growth drivers, while the company expects additional Phase 3 data for milvexian in secondary stroke prevention and Sotyktu in lupus before year-end.
Finally, margin trends and cost discipline remain important. Management continues to execute a $2 billion productivity initiative, and the quarter’s strong operating cash flow of roughly $4.2 billion—alongside a cash position of about $13 billion—provides strategic flexibility. Investors will likely monitor whether Growth Portfolio momentum, pipeline execution, and expense management can together sustain profitability as legacy products face increasing generic competition.
Using Tickeron Tools in My Research
When I evaluate names like this one, I often turn to Tickeron’s AI-powered tools to cross-check technical patterns and fundamentals against peers. The AI Screener, for instance, lets me quickly filter healthcare stocks by growth metrics, volatility, and AI-driven signals, which helps surface comparable ideas without spending hours on manual screens. It has become a regular part of my workflow for identifying potential setups across the sector.
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Contributor
Sergey Savastiouk, Ph.D. has a degree in Applied Mathematics from Moscow University and has extensive experience as an entrepreneur, investor, manager, and mathematician. His professional expertise is in applied mathematics, mathematical modeling, system and pattern analysis, and software and hardware system integration. He has served as the CEO of several hi-tech start-up companies and nonprofit organizations, which has given him proven capabilities in business strategy for high-tech start-up companies, market assessment, company formation, team building, product development, marketing, and sales. He has published numerous articles in journals and magazines on related fields. As a retail investor, he spent 15 years developing his proprietary trading and quantitative algorithms (now Tickeron’s A.I.), which brought him significant returns in trading the stock market. His current work and goal in founding Tickeron is to bring professional, sophisticated stock market analysis capabilities to retail investors via an easy-to-use interface.
BMY's MACD Histogram just turned positive
The Moving Average Convergence Divergence (MACD) for BMY turned positive on October 16, 2026. Looking at past instances where BMY's MACD turned positive, the stock continued to rise in 32 of 49 cases over the following month. The odds of a continued upward trend are 65%.
Technical Analysis (Indicators)
Bullish Trend Analysis
The RSI Oscillator points to a transition from a downward trend to an upward trend -- in cases where BMY's RSI Oscillator exited the oversold zone, 19 of 31 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are 61%.
The Momentum Indicator moved above the 0 level on October 19, 2026. You may want to consider a long position or call options on BMY as a result. In 46 of 91 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are 51%.
BMY moved above its 50-day moving average on October 30, 2026 date and that indicates a change from a downward trend to an upward trend.
Following a +3.15% 3-day Advance, the price is estimated to grow further. Considering data from situations where BMY advanced for three days, in 174 of 308 cases, the price rose further within the following month. The odds of a continued upward trend are 56%.
Bearish Trend Analysis
The Stochastic Oscillator may be shifting from an upward trend to a downward trend. In 32 of 68 cases where BMY's Stochastic Oscillator exited the overbought zone, the price fell further within the following month. The odds of a continued downward trend are 47%.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where BMY declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 54%.
BMY broke above its upper Bollinger Band on October 22, 2026. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
The Aroon Indicator for BMY entered a downward trend on October 22, 2026. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
Fundamental Analysis (Ratings)
The Tickeron SMR rating for this company is 22 (best 1 - 100 worst), indicating very strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Price Growth Rating for this company is 46 (best 1 - 100 worst), indicating fairly steady price growth. BMY’s price grows at a lower rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron Seasonality Score of 65 (best 1 - 100 worst) indicates that the company is fair valued in the industry. The Tickeron Seasonality score describes the variance of predictable price changes around the same period every calendar year. These changes can be tied to a specific month, quarter, holiday or vacation period, as well as a meteorological or growing season.
The Tickeron Profit vs. Risk Rating rating for this company is 69 (best 1 - 100 worst), indicating that the returns do not compensate for the risks. BMY’s unstable profits reported over time resulted in significant Drawdowns within these last five years. A stable profit reduces stock drawdown and volatility. The average Profit vs. Risk Rating rating for the industry is 60, placing this stock worse than average.
The Tickeron PE Growth Rating for this company is 71 (best 1 - 100 worst), pointing to worse than average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Valuation Rating of 94 (best 1 - 100 worst) indicates that the company is significantly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (5.718) is normal, around the industry mean (-1.403). P/E Ratio (13.702) is within average values for comparable stocks, (21.451). BMY's Projected Growth (PEG Ratio) (17.786) is slightly higher than the industry average of (5.738). Dividend Yield (0.040) settles around the average of (0.039) among similar stocks. P/S Ratio (2.642) is also within normal values, averaging (4.033).
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a manufacturer of pharmaceuticals products
Industry PharmaceuticalsMajor
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