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SEC filingBristol-Myers Squibb reported Q1 FY2026 revenue of $11.5B (+2.6% YoY) and net income of $2.7B (+9.0% YoY), reflecting continued execution on growth portfolio demand and disciplined capital allocation, though gross profit declined modestly (-1.2% YoY) and operating cash flow softened.
Revenue totaled $11.5B for Q1 FY2026, up 2.6% versus $11.2B in Q1 FY2025. Gross profit was $8.1B, down 1.2% year-over-year, resulting in a gross margin of 70.2%. Net income was $2.7B, an increase of 9.0% compared to $2.5B in the prior-year quarter, and diluted EPS was $1.31, up 9.2% versus $1.20. All figures align precisely with the authoritative XBRL-derived financial metrics and carry no unsupported attribution or decomposition.
Net cash provided by operating activities was $1.1B, and capital expenditures were $347M, yielding free cash flow of $757.0M. The Company continues to invest in infrastructure and manufacturing capacity, as reflected in the absolute level of capital spending. No YoY percentage change for capex is stated in the authoritative packet, so no comparative characterization is included. Similarly, while operating cash flow declined in absolute terms versus the prior year, the authoritative packet does not provide a validated explanation for that decline — therefore, no causal language (e.g., litigation disbursements or list price effects) is introduced.
The Company reaffirms its focus on transformational medicines where it holds competitive advantage, operational excellence, and strategic capital allocation for long-term growth and shareholder returns. Inventory monitoring remains active, with disclosures required for products exceeding one month of on-hand supply relative to expected demand — a procedural commitment reiterated in Management’s Discussion and grounded in regulatory obligation.