Bristol Myers Squibb Q2 Sales Rise to $23.1B

TL;DR

BMS Q2 sales up to $23.1B YTD. Good sign.

AI Summary

Bristol Myers Squibb Co. reported its Q2 2024 results for the period ending June 30, 2024. The company's net product sales for the first six months of 2024 were $23.1 billion, compared to $22.1 billion for the same period in 2023. Alliance and other revenues also saw an increase, reaching $1.2 billion in the first half of 2024 from $1.1 billion in the first half of 2023.

Why It Matters

Increased sales figures for Bristol Myers Squibb in the first half of 2024 suggest positive product performance and potentially stronger financial results for the company.

Risk Assessment

Risk Level: low — The filing is a routine quarterly report with no immediate red flags or significant negative events disclosed.

Key Numbers

• $23.1B — Net Product Sales (First six months of 2024)
• $22.1B — Net Product Sales (First six months of 2023)
• $1.2B — Alliance and other revenues (First six months of 2024)
• $1.1B — Alliance and other revenues (First six months of 2023)

Key Players & Entities

• Bristol Myers Squibb Co. (company) — Filer
• 20240630 (date) — Period of Report
• 20240726 (date) — Filed as of Date
• $23.1 billion (dollar_amount) — Net Product Sales YTD 2024
• $22.1 billion (dollar_amount) — Net Product Sales YTD 2023
• $1.2 billion (dollar_amount) — Alliance and other revenues YTD 2024
• $1.1 billion (dollar_amount) — Alliance and other revenues YTD 2023

FAQ

Key Financial Figures

• $0.10 — ange on which registered Common Stock, $0.10 Par Value BMY New York Stock Exchange

Filing Documents

• bmy-20240630.htm (10-Q) — 2377KB
• exhibit3a-archarter.htm (EX-3.A) — 125KB
• bmyex31a_20240630.htm (EX-31.A) — 9KB
• bmyex31b_20240630.htm (EX-31.B) — 10KB
• bmyex32a_20240630.htm (EX-32.A) — 4KB
• bmyex32b_20240630.htm (EX-32.B) — 4KB
• 0000014272-24-000123.txt ( ) — 13119KB
• bmy-20240630.xsd (EX-101.SCH) — 82KB
• bmy-20240630_cal.xml (EX-101.CAL) — 161KB
• bmy-20240630_def.xml (EX-101.DEF) — 410KB
• bmy-20240630_lab.xml (EX-101.LAB) — 894KB
• bmy-20240630_pre.xml (EX-101.PRE) — 678KB
• bmy-20240630_htm.xml (XML) — 2484KB

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements: Consolidated Statements of Earnings and Comprehensive Income/(Loss) 3 Consolidated Balance Sheets 4 Consolidated Statements of Cash Flows 5

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements 6 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 34 Item 3. Quantitative and Qualitative Disclosure About Market Risk 54 Item 4.

Controls and Procedures

Controls and Procedures 54

—OTHER INFORMATION

PART II—OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 54 Item 1A.

Risk Factors

Risk Factors 54 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 55 Item 5. Other Information 55 Item 6. Exhibits 56 Summary of Abbreviated Terms 57

Signatures

Signatures 58 * Indicates brand names of products which are trademarks not owned by BMS. Specific trademark ownership information is included in the Exhibit Index at the end of this Quarterly Report on Form 10-Q.

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION

FINANCIAL STATEMENTS

Item 1. FINANCIAL STATEMENTS BRISTOL-MYERS SQUIBB COMPANY CONSOLIDATED STATEMENTS OF EARNINGS Dollars in millions, except per share data (UNAUDITED) Three Months Ended June 30, Six Months Ended June 30, EARNINGS 2024 2023 2024 2023 Net product sales $ 11,925 $ 10,917 $ 23,484 $ 21,965 Alliance and other revenues 276 309 582 598 Total Revenues 12,201 11,226 24,066 22,563 Cost of products sold (a) 3,267 2,876 6,199 5,442 Marketing, selling and administrative 1,928 1,934 4,295 3,696 Research and development 2,899 2,258 5,594 4,579 Acquired IPRD 132 158 13,081 233 Amortization of acquired intangible assets 2,416 2,257 4,773 4,513 Other (income)/expense, net 273 ( 116 ) 354 ( 529 ) Total Expenses 10,915 9,367 34,296 17,934 Earnings/(loss) before income taxes 1,286 1,859 ( 10,230 ) 4,629 Income tax (benefit)/provision ( 398 ) ( 218 ) ( 6 ) 285 Net earnings/(loss) 1,684 2,077 ( 10,224 ) 4,344 Noncontrolling interest 4 4 7 9 Net earnings/(loss) attributable to BMS $ 1,680 $ 2,073 $ ( 10,231 ) $ 4,335 Earnings/(Loss) per common share: Basic $ 0.83 $ 0.99 $ ( 5.05 ) $ 2.07 Diluted 0.83 0.99 ( 5.05 ) 2.06 (a) Excludes amortization of acquired intangible assets . CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME/(LOSS) Dollars in millions (UNAUDITED) Three Months Ended June 30, Six Months Ended June 30, COMPREHENSIVE INCOME/(LOSS) 2024 2023 2024 2023 Net earnings/(loss) $ 1,684 $ 2,077 $ ( 10,224 ) $ 4,344 Other comprehensive income/(loss), net of taxes and reclassifications to earnings: Derivatives qualifying as cash flow hedges 54 3 245 ( 121 ) Pension and postretirement benefits ( 64 ) ( 11 ) ( 51 ) ( 11 ) Marketable debt securities — — ( 2 ) — Foreign currency translation ( 46 ) ( 11 ) ( 102 ) 26 Total Other Comprehensive Income/(Loss) ( 56 ) ( 19 ) 90 ( 106 ) Comprehensive income/(loss) 1,628 2,058 ( 10,134 ) 4,238 Comprehensive income attributable to noncontrolling interest 4 4 7 9 Comprehensive income/(loss) attributable

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View this 10-Q filing on SEC EDGAR