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Bristol-Myers Squibb (BMY) Q3 FY2026 earnings: revenue $13.1 billion, up 6.9% on the year

Bristol-Myers Squibb Co. (BMY) reported revenue of $13.1 billion for Q3 FY2026, the quarter ended 30 September 2026, up 6.9% on the same quarter a year earlier. Net income was $2.2 billion, down 1.8% on the year, and diluted earnings per share $1.05. The figures are the company's own, from the 10-Q it filed with the SEC on 29 October 2026.

Revenue$13.1 billionup 6.9%
Net income$2.2 billiondown 1.8%
Diluted EPS$1.05
QuarterQ3 FY2026ended 30 September 2026

What management said

Guidance figures: 2 raised, 2 lowered, 4 kept.

  • Revenue grew seven percent in quarter: Total revenues were $13.1 billion, up 7% from $12.2 billion, or 7% excluding foreign exchange. U.S. revenues rose 9% and international revenues rose 3%.
  • Growth Portfolio up twelve percent: Growth Portfolio revenues of $7.7 billion increased 12%, primarily driven by Opdivo Qvantig, Breyanzi, Reblozyl, Camzyos and Opdualag.
  • GAAP and non-GAAP EPS declined: GAAP diluted EPS was $1.05, down from $1.08. Non-GAAP EPS was $1.35, down from $1.63. Both figures include a $(0.58) net impact from Acquired IPRD charges and licensing income.
Read the earnings call summary

The quarter, against the one before and a year earlier

LineQ3 FY2026Q2 FY2026Q3 FY2025Change on the year
Revenue13,06912,97312,222+6.9%
Cost of revenue4,1463,7263,435+20.7%
Gross profit8,9239,2478,787+1.5%
Gross margin68.3%71.3%71.9%
Research and development2,3652,9592,528-6.4%
Selling, general and administrative1,6991,8261,789-5.0%
Operating income2,5364,0863,114-18.6%
Operating margin19.4%31.5%25.5%
Interest expense403407480-16.0%
Pre-tax income2,5364,0863,114-18.6%
Income tax374770919-59.3%
Effective tax rate14.7%18.8%29.5%
Net income2,1623,3172,201-1.8%
Net margin16.5%25.6%18.0%
Diluted EPS$1.05$1.62$1.08-2.8%
$ million except per share.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

LineQ3 FY2026Q2 FY2026Q3 FY2025Change on the year
Operating cash flow4,1813,3936,311-33.8%
Capital expenditure344305320+7.5%
Free cash flow3,8373,0885,991-36.0%
Free cash flow margin29.4%23.8%49.0%
Cash from investing-2,104-1,614-1,702n/a
Cash from financing-1,222-2,630-1,490n/a
Depreciation and amortisation6426101,026-37.4%
Share-based compensation138135139-0.7%
Dividends paid1,2871,2871,263+1.9%
Dividend per share$0.63$0.63$0.62+1.6%
Diluted shares, weighted2,053m2,048m2,039m+0.7%
Shares outstanding at period end2,044m2,043m2,036m+0.4%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

LineQ3 FY2026Q2 FY2026Q3 FY2025Change on the year
Shareholders' equity23,40422,31918,552+26.2%
Non-controlling interest0.00.048.0n/a
Debt42,87743,12048,978-12.5%
Operating lease liabilities1,7131,7261,849-7.4%
Other liabilities20,77820,46927,462-24.3%
Total liabilities and equity88,77287,63496,889-8.4%
Fixed assets7,9717,7917,349+8.5%
Goodwill21,73521,74021,745-0.0%
Intangible assets16,93617,38720,465-17.2%
Investments3,3852,7421,182+186.4%
Cash and equivalents9,5748,72215,726-39.1%
Receivables9,1929,0779,624-4.5%
Inventory2,7042,7372,758-2.0%
Other assets17,27517,43818,040-4.2%
Total assets88,77287,63496,889-8.4%

Questions

What was Bristol-Myers Squibb's revenue in Q3 FY2026?

Bristol-Myers Squibb (BMY) reported revenue of $13.1 billion for Q3 FY2026, the quarter ended 30 September 2026, up 6.9% on the same quarter a year earlier.

How much did Bristol-Myers Squibb earn in Q3 FY2026?

Net income for Q3 FY2026 was $2.2 billion, down 1.8% on the year, and diluted earnings per share $1.05.

When did Bristol-Myers Squibb report Q3 FY2026 results?

Bristol-Myers Squibb filed its 10-Q for the quarter ended 30 September 2026 with the SEC on 29 October 2026.

Quarterly results, the last 20 quarters

Q4 FY2021 *Q1 FY2022Q2 FY2022Q3 FY2022Q4 FY2022 *Q1 FY2023Q2 FY2023Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026Q3 FY2026
Revenue11,98511,64811,88711,21811,40611,33711,22610,96611,47711,86512,20111,89212,34211,20112,26912,22212,50211,48912,97313,069
Cost of revenue2,3562,4712,7202,3532,5932,5662,8762,5062,7452,9323,2672,9574,8123,0333,3723,4354,0963,4213,7264,146
Gross profit9,6299,1779,1678,8658,8138,7718,3508,4608,7328,9338,9348,9357,5308,1688,8978,7878,4068,0689,2478,923
Gross margin80%79%77%79%77%77%74%77%76%75%73%75%61%73%73%72%67%70%71%68%
R&D2,6072,2602,3212,4182,5102,3212,2582,2422,4782,6952,8992,3743,1912,2572,5802,5282,5862,6492,9592,365
SG&A2,3541,8311,7871,9302,2661,7621,9342,0032,0732,3671,9281,9832,1361,5841,7131,7892,1811,6171,8261,699
Operating income1,8581,6871,9582,2091,8592,7701,8592,1371,674-11,5161,2861,6761752,9711,7733,1141,4703,2394,0862,536
Operating margin16%14%16%20%16%24%17%19%15%-97%11%14%1%27%14%25%12%28%31%19%
Interest expense323326313299294288282280316425521505496494485480432411407403
Pre-tax income1,8581,6871,9582,2091,8592,7701,8592,1371,674-11,5161,2861,6761752,9711,7733,1141,4703,2404,0862,536
Tax rate-28%24%27%27%-9%18%-12%9%-5%n/a-31%28%57%17%26%30%26%17%19%15%
Net income2,3721,2781,4211,6062,0222,2622,0731,9281,762-11,9111,6801,21172.02,4561,3102,2011,0872,6773,3172,162
Net margin20%11%12%14%18%20%18%18%15%-100%14%10%1%22%11%18%9%23%26%17%
Diluted EPS$1.07$0.59$0.66$0.75$0.95$1.07$0.99$0.93$0.87-$5.89$0.83$0.60$0.04$1.20$0.64$1.08$0.53$1.31$1.62$1.05
Operating cash flow4,0573,8122,2613,6873,3062,9701,8874,7514,2522,8342,3265,5914,4391,9543,9176,3111,9741,1043,3934,181
Capital expenditure320253272247346278259342330284262324378260361320370347305344
Free cash flow3,7373,5591,9893,4402,9602,6921,6284,4093,9222,5502,0645,2674,0611,6943,5565,9911,6047573,0883,837
Buybacks2,7515,0000.07012,3002509054,0000.00.00.00.00.0n/an/an/an/an/an/an/a
Dividends paid1,0991,1851,1501,1541,1451,1961,1971,1911,1601,2121,2171,2161,2181,2581,2621,2631,2621,2831,2871,287
Shares outstanding2,180m2,129m2,135m2,126m2,099m2,101m2,089m2,035m2,022m2,027m2,027m2,028m2,029m2,035m2,035m2,036m2,036m2,042m2,043m2,044m
Filing10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 30 September 2026, filed 29 October 2026: the filing.