Amgen (AMGN)
NASDAQ:AMGN
Want to see AMGN full AI Analyst Report?
Earnings Data
Report Date
Aug 04, 2026After Close (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
5.62Last Year’s EPS
6.02Same Quarter Last Year
Moderate Buy
Based on 25 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed a broadly positive tone: Amgen reported modest overall product sales growth (4%) while its six key growth drivers delivered strong momentum (24% aggregate growth and ~70% of sales), the company raised full-year revenue and EPS guidance, generated substantial free cash flow, and highlighted significant pipeline progress (notably Meritide, olpasiran, Imdeltra, TEPEZZA) and AI-driven R&D productivity gains. Material challenges were acknowledged, including steep declines in legacy osteoporosis brands (Prolia/XGEVA), rising cost-of-sales pressure, regulatory and trial uncertainties (Tabneos/paused blinatumomab enrollment), and a potentially material IRS audit adjustment for tax years 2016–2018. Overall, the positive commercial momentum, strengthened guidance, robust cash generation, and advancing late-stage pipeline outweigh the notable headwinds and risks discussed during the call.Company Guidance
Strong Contribution from Growth Drivers
Six key growth drivers generated ~70% of product sales in Q1 and grew 24% year-over-year in aggregate, providing momentum to offset losses of exclusivity.
Overall Product Sales Growth and Broad Product Strength
Total product sales grew 4% year-over-year; 16 products achieved double-digit growth and 17 products are annualizing at $1 billion or more in sales.
Repatha: Large Sales Increase and Outcomes Evidence
Repatha Q1 sales of $876 million, up 34% YoY; VESALIUS-CV subgroup data showed a 31% reduction in major cardiovascular events in high-risk diabetes patients and nominal reductions in cardiovascular and all-cause mortality (32% and 24% respectively).
Evenity and Bone Franchise Momentum
Evenity sales rose 27% YoY to $562 million (U.S. +35% YoY), holding a 65% U.S. bone-builder market share; ~320,000 U.S. patients treated to date and strong positioning in Japan (>900,000 patients, >55% share).
Rare Disease and Specialty Growth
Rare disease portfolio grew 25% YoY to $1.2 billion; Eplisna sales increased 188% YoY to $262 million; TEPEZZA U.S. sales grew 29% YoY to $490 million with >25,000 patients treated since launch and positive Phase III data for on-body injector supporting subcutaneous dosing.
Oncology and Biosimilars Performance
Innovative oncology portfolio grew 25% YoY to $1.8 billion (Imdeltra $258 million; Blincyto $415 million, +12% YoY); biosimilars grew 14% YoY to $835 million (PABLUE $280 million in Q1).
Financial Strength and Improved Guidance
Non-GAAP operating margin was 45%; generated $1.5 billion in free cash flow in Q1; increased 2026 guidance to $37.1B–$38.5B revenue and non-GAAP EPS $21.70–$23.10.
Investing in R&D and Manufacturing
Non-GAAP R&D spending increased 16% YoY in Q1 to support late-stage assets (Meritide, Imdeltra, olpasiran); Q1 capex of $700 million with expected full-year capex of ~$2.6 billion to scale manufacturing, including for Meritide launch.
Pipeline Progress: Meritide and Olpasiran
Meritide advancing with multiple Phase III studies including switch and long-term maintenance (evaluating every 8- and 12-week dosing) and three-step dose escalation improving GI tolerability; olpasiran progressing in Phase III with >95% Lp(a) reductions and initiation of OCEANA CCTA study.
AI and R&D Productivity Gains
AI initiatives reportedly accelerated antibody lead optimization by ~50%, improved clinical site enrollment rates (up to 3x in some cases), reduced production line clearance time from ~30 minutes to ~2 minutes per batch, and produced early regulatory-documentation efficiencies.
AMGN Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
AMGN Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Apr 30, 2026 | $346.25 | $329.82 | -4.75% |
Feb 03, 2026 | $336.26 | $363.68 | +8.15% |
Nov 04, 2025 | $292.57 | $315.41 | +7.81% |
Aug 05, 2025 | $293.52 | $278.45 | -5.14% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Amgen (AMGN) report earnings?
Amgen (AMGN) is schdueled to report earning on Aug 04, 2026, After Close (Confirmed).
What is Amgen (AMGN) earnings time?
Amgen (AMGN) earnings time is at Aug 04, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is AMGN EPS forecast?
AMGN EPS forecast for the fiscal quarter 2026 (Q2) is 5.62.
