Equity Profile

BMY

Bristol-Myers Squibb Company

Health CarePharmaceuticals$116.9B

Jul30Thu

Pre-Earnings Brief

UpcomingQ2-2026Pre-Market9:00 AM EDT

Company Snapshot

Bristol-Myers Squibb Company (BMY) is a major player in the health care sector, specifically in pharmaceuticals. The company focuses on developing innovative medicines for serious diseases, which is crucial as global health challenges continue to rise.

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of the company's profitability and is closely watched by investors.

N/A

Revenue Growth

Revenue growth reflects the company's ability to expand its market presence and product sales.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

BMY Q2-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

88%

Avg EPS Surprise

+12.21%

Avg Stock Reaction

+2.95%

Last Quarter Recap

In Q1 2026, Bristol-Myers Squibb reported an EPS of $1.58, exceeding estimates by 9.65%. The stock reacted positively, gaining 5.21% the following day.

Management Promises & Guidance

Expectations

Wall Street Expectations

Overall, investors are cautiously optimistic about Bristol-Myers Squibb's upcoming earnings, given its strong track record of beating EPS estimates.

Bull Case

If the company continues its trend of exceeding EPS expectations, it could see a significant stock price increase, reflecting strong investor confidence.

Bear Case

Conversely, if the company fails to meet expectations or provides disappointing guidance, it could lead to a sharp decline in stock price.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will be the EPS for Q2-2026?

Given the company's history of beating EPS estimates, this number will be crucial in determining market sentiment post-earnings.

What updates will be provided on the drug pipeline?

Any news regarding new drug approvals or clinical trials can significantly impact future revenue expectations.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may underestimate the potential for Bristol-Myers Squibb to exceed EPS expectations due to its strong drug pipeline and recent successful launches.

Supporting Evidence

The company has an 88% EPS beat rate over the last eight quarters, indicating a strong track record.

Options pricing suggests a move of only 4.83%, which may be conservative given historical volatility.

Recent positive performance in prior quarters indicates strong momentum heading into this earnings report.

Key Risk

If the EPS comes in below $1.45, it could significantly undermine confidence in the company's growth trajectory.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The core thesis revolves around the company's ability to maintain its strong earnings performance amidst competitive pressures.

Bull Confirmed If

An EPS of $1.65 or higher would confirm the bull case, indicating continued strong performance.

Bear Confirmed If

An EPS below $1.45 would confirm the bear case, suggesting potential issues in profitability.

Pre-Earnings Positioning

Options Market

Implied Move

±4.83%

Historical Avg

±5.4%

In line with history

The options market is pricing in a move of approximately 4.83%, suggesting that investors anticipate some volatility around the earnings report.

Options are pricing ±4.8% while BMY has averaged ±5.4% over the last 8 prints — setup is roughly in line with history.

Detail

ATM IV

0.3%

30d HV

25.7%

Calls (1.0M)P/C Ratio: 1.07Puts (2.8M)

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter beat + options rich in Health Care

n=30

Fade rate: 13 of 29 (45%)

This setup has occurred 30 times across Health Care in the last 2 years. 13 of 29 faded and 16 held — no strong directional bias after the initial reaction. The average absolute 1-day move is 5.5%, with a raw directional average of +2.9% (modestly positive historical bias).

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Bristol-Myers Squibb beats expectations, history suggests a stock price increase of around 4.21%, confirming strong market confidence.

In-Line / Cautious

If results are in line but management provides cautious commentary, the stock may experience muted movement as investors reassess growth prospects.

Miss

A miss on EPS could lead to a decline of about 5.81%, reflecting disappointment among investors.

Preparation

Congressional Activity

House & Senate STOCK Act disclosures over the trailing 6 months.

Trades

1 buy·1 sell

Members

House only

Est. Notional

$2,002.00–$30,000.00

disclosed dollar ranges

Most Active Members

D-CAGilbert CisnerosRep.
1

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on the drug pipeline and potential new approvals.
2Management's outlook on revenue growth for the upcoming quarters.
3Details on any cost management strategies that could affect margins.
4Insights into market competition and how the company plans to address it.
5Any commentary on macroeconomic factors impacting the pharmaceutical industry.

See the full picture

AI-powered briefs, options data, and 20 quarters of history — everything you need before earnings.

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Company Snapshot

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of the company's profitability and is closely watched by investors.

N/A

Revenue Growth

Revenue growth reflects the company's ability to expand its market presence and product sales.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

BMY Q2-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

88%

Avg EPS Surprise

+12.21%

Avg Stock Reaction

+2.95%

Last Quarter Recap

In Q1 2026, Bristol-Myers Squibb reported an EPS of $1.58, exceeding estimates by 9.65%. The stock reacted positively, gaining 5.21% the following day.

Management Promises & Guidance

Expectations

Wall Street Expectations

Overall, investors are cautiously optimistic about Bristol-Myers Squibb's upcoming earnings, given its strong track record of beating EPS estimates.

Bull Case

If the company continues its trend of exceeding EPS expectations, it could see a significant stock price increase, reflecting strong investor confidence.

Bear Case

Conversely, if the company fails to meet expectations or provides disappointing guidance, it could lead to a sharp decline in stock price.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will be the EPS for Q2-2026?

Given the company's history of beating EPS estimates, this number will be crucial in determining market sentiment post-earnings.

What updates will be provided on the drug pipeline?

Any news regarding new drug approvals or clinical trials can significantly impact future revenue expectations.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may underestimate the potential for Bristol-Myers Squibb to exceed EPS expectations due to its strong drug pipeline and recent successful launches.

Supporting Evidence

The company has an 88% EPS beat rate over the last eight quarters, indicating a strong track record.

Options pricing suggests a move of only 4.83%, which may be conservative given historical volatility.

Recent positive performance in prior quarters indicates strong momentum heading into this earnings report.

Key Risk

If the EPS comes in below $1.45, it could significantly undermine confidence in the company's growth trajectory.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The core thesis revolves around the company's ability to maintain its strong earnings performance amidst competitive pressures.

Bull Confirmed If

An EPS of $1.65 or higher would confirm the bull case, indicating continued strong performance.

Bear Confirmed If

An EPS below $1.45 would confirm the bear case, suggesting potential issues in profitability.

Pre-Earnings Positioning

Options Market

Implied Move

±4.83%

Historical Avg

±5.4%

In line with history

The options market is pricing in a move of approximately 4.83%, suggesting that investors anticipate some volatility around the earnings report.

Options are pricing ±4.8% while BMY has averaged ±5.4% over the last 8 prints — setup is roughly in line with history.

Detail

ATM IV

0.3%

30d HV

25.7%

Calls (1.0M)P/C Ratio: 1.07Puts (2.8M)

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter beat + options rich in Health Care

n=30

Fade rate: 13 of 29 (45%)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Bristol-Myers Squibb beats expectations, history suggests a stock price increase of around 4.21%, confirming strong market confidence.

In-Line / Cautious

If results are in line but management provides cautious commentary, the stock may experience muted movement as investors reassess growth prospects.

Miss

A miss on EPS could lead to a decline of about 5.81%, reflecting disappointment among investors.

Preparation

Congressional Activity

House & Senate STOCK Act disclosures over the trailing 6 months.

Trades

1 buy·1 sell

Members

House only

Est. Notional

$2,002.00–$30,000.00

disclosed dollar ranges

Most Active Members

D-CAGilbert CisnerosRep.
1

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on the drug pipeline and potential new approvals.
2Management's outlook on revenue growth for the upcoming quarters.
3Details on any cost management strategies that could affect margins.
4Insights into market competition and how the company plans to address it.
5Any commentary on macroeconomic factors impacting the pharmaceutical industry.