Biotech Stocks Jul27 Q2 Earnings Roster: BMY, CELG & ALXN
Zacks Investment Research | Jul 25, 2017 09:37PM ET
The second quarter earnings season is off to a strong start. As of July 25, approximately 128 S&P 500 companies or 36.1% of the index’s total membership have reported results. A deep look into the results show that earnings for the companies reported so far are up 7% year over year on 4.2% higher revenues. Of these, 77.3% have topped earnings estimates while 70.3% have beat on revenue estimates.
However, the pace of growth is below the first quarter but in line with the four-quarter average and has improved over the 12-quarter average. Going forward, estimates for the third quarter are going down. The estimate for Q3 growth is 4.8%, down from 6% at the start of the quarter.
The Pharma sector has more or less combated the overall decline in the financial markets and maintained momentum. Last week, industry bellwether Johnson & Johnson (NYSE:JNJ) reported mixed second-quarter results, beating on earnings but missing on sales. Swiss major Novartis AG (NYSE:NVS) reported encouraging second-quarter results. Meanwhile, biotech giant Biogen Inc. (NASDAQ:BIIB) surpassed expectations both for earnings and sales in the second quarter of 2017 and raised its annual guidance.
Let’s take a look at three biotech companies that are set to report second-quarter results on Jul 27.
Bristol-Myers Squibb Company (NYSE:BMY) is scheduled to report before the opening bell. Last quarter, the company beat earnings estimates by 16.7%.
Bristol-Myers has a decent track record so far. The company’s earnings beat estimates in three of the trailing four quarters, with an average positive surprise of 8.39%. Currently, the company has a Zacks Rank #3 (Hold) and a 0.00% What's in the Offing for Bristol-Myers in Q2 Earnings? )
Bristol-Myers Squibb Company Price and EPS Surprise
Is Celgene Poised For a Beat This Earnings Season? )
Celgene Corporation Price and EPS Surprise
Is a Beat in Store for Alexion this Earnings Season? )
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