Bristol-Myers Squibb's Q4 2024 Earnings: A Strong Performance Driven by Growth Portfolio

Bristol-Myers Squibb (NYSE: BMY) reported its fourth quarter and full-year financial results for 2024, showcasing a robust performance driven by its strategic focus on the Growth Portfolio. The company's revenues grew by 8% (+9% adjusting for foreign exchange) in the fourth quarter, reaching $12.3 billion, while full-year revenues increased by 7% (+9% adjusting for foreign exchange) to $48.3 billion. The Growth Portfolio contributed significantly to this growth, with revenues increasing by 21% (+23% adjusting for foreign exchange) in the fourth quarter and 17% (+19% adjusting for foreign exchange) for the full year.



The Growth Portfolio's strong performance was primarily driven by higher demand for key products, such as Eliquis, and important pipeline advancements. Christopher Boerner, Ph.D., board chair and chief executive officer of Bristol-Myers Squibb, highlighted the company's progress in 2024, stating, "We made good progress in 2024, which was capped by a fourth quarter of strong topline growth driven by key products and important pipeline advancements."



Bristol-Myers Squibb also achieved multiple clinical and regulatory milestones in the fourth quarter, including the U.S. approval of Opdivo Qvantig and the U.S. launch of Cobenfy. These milestones further demonstrate the company's commitment to driving growth through its pipeline and new product launches.

The company's strategic productivity initiative, aimed at delivering approximately $2 billion in additional cost savings by the end of 2027, will help Bristol-Myers Squibb maintain its competitive edge and navigate the multi-year journey toward achieving top-tier sustainable growth and long-term shareholder returns.

For 2025, Bristol-Myers Squibb provided guidance with revenues of approximately $45.5 billion and a non-GAAP EPS range of $6.55 to $6.85. Investors should closely monitor the company's progress in executing its strategic initiatives and expanding its pipeline, as these factors will significantly impact its future financial performance.

In conclusion, Bristol-Myers Squibb's Q4 2024 earnings report showcases a strong performance driven by the company's strategic focus on the Growth Portfolio. With a robust pipeline, important regulatory milestones, and a commitment to cost savings, Bristol-Myers Squibb is well-positioned to deliver sustained, top-tier growth and long-term shareholder returns.