Bristol Myers Squibb Lowers Full-Year Guidance Range

   By Matt Grossman

Bristol Myers Squibb Co. on Thursday lowered its guidance range for its full-year earnings and tweaked its full-year adjusted-profit estimate.

The forecast assumes the peak of the coronavirus crisis's impact on its business occurred in the second quarter, the company said.

The New York City-based pharmaceutical company now expects full-year earnings of between a 6-cents-a-share loss and a 9-cents-a-share profit. Previously, the company had forecast a profit of 37 cents a share to 57 cents a share.

Bristol Myers Squibb also estimated that its adjusted profit will be between $6.10 a share and $6.25 a share. Its previous guidance had forecast an adjusted profit of between $6.00 a share and $6.20 a share.

The company said it expects to report full-year revenue of $40.5 billion to $42 billion.

Write to Matt Grossman at matt.grossman@wsj.com

(END) Dow Jones Newswires

August 06, 2020 07:51 ET (11:51 GMT)

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