Amgen Inc.'s Stock Analysis

Amgen Reports Second Quarter 2025 Financial Performance Details

Amgen announced its financial results for the second quarter of 2025, reporting total revenues of $9.2 billion, a 9% increase from the same period in 2024. Product sales also grew by 9%, with notable increases in sales for several key products, including Repatha and EVENITY, which saw double-digit growth. GAAP earnings per share rose significantly by 92% to $2.65, while non-GAAP earnings per share increased 21% to $6.02. The company generated $1.9 billion in free cash flow during the quarter, a decrease from $2.2 billion in the previous year due to deferred tax payments and higher capital expenditures.

In terms of operating expenses, Amgen reported an increase of 1% year-over-year for total operating expenses on a GAAP basis, while non-GAAP operating expenses rose by 8%. The company’s operating margin improved on both GAAP and non-GAAP bases, reaching 30.3% and 48.9%, respectively. As of June 30, 2025, Amgen had cash and cash equivalents of $8.0 billion and outstanding debt of $56.2 billion. The company has also outlined its guidance for the full year, expecting total revenues between $35.0 billion and $36.0 billion, along with projected earnings per share ranges for both GAAP and non-GAAP measures.

Aug 05, 2025 16:03:34

Amgen Reports 9% Revenue Growth and Positive Earnings in Q1 2025

Amgen announced its financial results for the first quarter of 2025, reporting total revenues of $8.1 billion, a 9% increase from the same period in 2024. Product sales rose by 11%, with U.S. sales growing 14%. Notable contributors to sales growth included Repatha, BLINCYTO, and TEZSPIRE, among others. The company also launched IMDELLTRA, which generated $81 million in sales during the quarter. GAAP earnings per share were $3.20, a significant recovery from a loss of $0.21 in the previous year, driven by an unrealized gain on an equity investment, despite an $800 million impairment charge related to Otezla. Non-GAAP EPS increased 24% to $4.90, reflecting higher revenues and increased operating expenses. The company generated $1.0 billion in free cash flow, up from $0.5 billion a year earlier, and declared a quarterly dividend of $2.38, a 6% increase from 2024.

Operating expenses rose 8% year-over-year, while the operating margin improved to 15.0%. The tax rate increased significantly due to changes in earnings mix. Amgen reduced its outstanding debt by $2.8 billion during the quarter and reported cash and cash equivalents of $8.8 billion. For the full year 2025, the company projects total revenues between $34.3 billion and $35.7 billion, with GAAP EPS guidance of $12.21 to $13.46 and non-GAAP EPS of $20.00 to $21.20. The company continues to progress on various product developments and pipeline studies, including multiple Phase 3 trials across its therapeutic areas.

May 01, 2025 16:04:20

Amgen Reports $33.4 Billion Revenue for Full Year 2024

Amgen reported a revenue increase of 19% for the full year 2024, reaching $33.4 billion, primarily due to a 23% growth in product sales driven by volume. The fourth quarter also saw a notable 11% revenue increase to $9.1 billion, with ten products achieving double-digit sales growth. Additionally, the company generated $10.4 billion in free cash flow for the year, up from $7.4 billion in 2023, indicating strong operational performance despite challenges in pricing and market dynamics.

However, the company's GAAP earnings per share (EPS) decreased significantly, down 39% for the full year to $7.56, largely due to increased operating expenses and mark-to-market losses on equity investments. For the fourth quarter, GAAP EPS fell 18% to $1.16. Operating income also reflected a decline for the full year, decreasing from $7.9 billion to $7.3 billion, contributing to a decrease in GAAP operating margin. The increase in total operating expenses, which rose 29% year-over-year, further impacted overall profitability.

Feb 04, 2025 16:05:22

Amgen Third Quarter 2024 Financial Results Overview

Amgen reported a 23% increase in total revenues for the third quarter of 2024, reaching $8.5 billion, largely driven by a 24% growth in product sales. Notable contributors to this growth included ten products with double-digit sales increases, particularly in the rare disease and oncology sectors. The company generated $3.3 billion in free cash flow, an increase from the previous year, and declared a dividend of $2.25 per share, reflecting a 6% rise from 2023. The performance was supported by significant sales from new products acquired through the Horizon Therapeutics acquisition.

On the downside, although GAAP earnings per share surged by 62% to $5.22, this was influenced by one-time gains related to equity investments, and GAAP operating margin saw a decline of 5.8 percentage points to 25.1%. Operating expenses rose sharply, with a 32% overall increase year-over-year, attributed to higher costs associated with the Horizon acquisition and R&D investments. Additionally, several established products faced sales declines, particularly Enbrel, which dropped 20% compared to the previous year, indicating challenges in maintaining revenue from older therapies.

Oct 30, 2024 16:06:04

Amgen Reports Strong Revenue Growth Despite EPS Decline

Amgen's second quarter 2024 results show a 20% revenue increase to $8.4 billion, driven by strong product sales. Twelve products experienced double-digit growth, particularly in rare diseases. However, GAAP earnings per share fell 46% due to higher expenses from their Horizon acquisition. Non-GAAP EPS decreased slightly by 1%. Free cash flow also dropped to $2.2 billion, influenced by tax payment timing. Overall, while revenues are up, rising costs and lower earnings raise concerns.

Aug 06, 2024 16:05:06

Amgen Q1 2024 Financial Results Overview

Amgen reports a 22% increase in total revenues, driven by strong product sales growth, including key products like Repatha and TEZSPIRE. However, the company experienced a GAAP loss per share due to higher expenses, including from the Horizon acquisition. Non-GAAP EPS decreased slightly, with non-GAAP operating income rising. Free cash flow decreased, impacted by a tax deposit. Sales performance highlights include growth in oncology and inflammation products, while rare disease product sales were notable, especially TAVNEOS® with a 122% increase in sales year-over-year.

May 02, 2024 16:03:58

Amgen Reports Strong Fourth Quarter and Full Year 2023 Financial Results

Amgen reports a 20% increase in total revenues for the fourth quarter, driven by record sales and volume growth of key products. Full-year revenues increased by 7%. While GAAP EPS decreased in the fourth quarter, non-GAAP EPS increased by 15%. The company generated $7.4 billion of free cash flow for the full year. Positive sales growth was seen in Repatha®, Prolia®, EVENITY®, and BLINCYTO®. However, Aimovig® sales decreased. Overall, the company's financial results indicate strong performance and progress.

Feb 06, 2024 16:20:07

Amgen Appoints New Executives to Drive Innovation

Amgen announced the appointment of James Bradner, M.D., as the new Executive Vice President of Research and Development, and Chief Scientific Officer, and David M. Reese, M.D., as the Executive Vice President and Chief Technology Officer. This reflects the company's commitment to advancing its pipeline and embracing technological innovation. Bradner will focus on advancing the pipeline and worldwide research efforts, while Reese will accelerate the use of technology and AI across the organization. Both executives bring extensive experience and leadership in the biopharmaceutical industry.

Dec 14, 2023 09:16:03

Amgen Reports Third Quarter Financial Results

Amgen reports third quarter financial results, with total revenues increasing 4% to $6.9 billion, driven by a 5% increase in product sales. GAAP earnings per share decreased 19% due to a net impairment charge, while non-GAAP EPS increased 6%. Key product sales highlights include Repatha, Prolia, EVENITY, and BLINCYTO showing strong growth, while Aimovig and Otezla experienced declines. Amgen generated $2.5 billion of free cash flow in the third quarter.

Oct 31, 2023 07:15:17

Amgen completes acquisition of Horizon Therapeutics

Amgen has completed its acquisition of Horizon Therapeutics for $27.8 billion, strengthening its position in the rare disease medicines market and expanding its inflammation portfolio with first-in-class medicines such as TEPEZZA, KRYSTEXXA, and UPLIZNA. The acquisition also allows Amgen to leverage its capabilities in biologics research and development and manufacturing. The deal is expected to accelerate revenue growth and be accretive to non-GAAP earnings per share from 2024.

Oct 06, 2023 16:01:04