Bristol-Myers Forecasts 2019 Earnings Above Street Views
January 03 2019 - 8:16AM
Dow Jones News
By Colin Kellaher
Bristol-Myers Squibb Co. (BMY) on Thursday said it expects to
report 2019 earnings, excluding any impact from its planned
acquisition of Celgene Corp. (CELG), that would exceed Wall
Street's expectations.
The New York drug maker said it expects adjusted earnings of
$4.10 to $4.20 a share this year, along with reported earnings of
$3.75 to $3.85 a share.
Analysts polled by FactSet were expecting an adjusted profit of
$4.09 a share and reported earnings of $3.50 a share.
Bristol-Myers earlier Thursday said it agreed to buy Celgene in
a cash and stock deal valued at about $74 billion, with an expected
closing in the third quarter of 2019.
Bristol-Myers said it will provide full guidance for 2019 on
Jan. 24, when it reports its fourth-quarter results.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
January 03, 2019 08:01 ET (13:01 GMT)
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