Amgen expects 2026 revenue between $38.2 bln and $39.4 bln
Company sees 2026 GAAP EPS of $15.80 to $17.08 and non-GAAP EPS of $22.30 to $23.50
Amgen expects 2026 capital expenditures of about $2.6 bln
Overview
Biotechnology firm's Q2 revenue rose 10% yr/yr, with product sales up 9% on volume growth
Non-GAAP EPS for Q2 increased 4% yr/yr, mainly on higher revenues
Company generated $3.5 bln free cash flow in Q2, up from $1.9 bln last year
Result Drivers
VOLUME GROWTH - Co said product sales rose 9% in Q2, mainly driven by higher volumes across key products
KEY GROWTH DRIVERS - Six main growth drivers expanded 26% yr/yr, generating nearly 70% of Q2 product sales, per CEO Bradway
BIOSIMILAR COMPETITION - Sales of Prolia and XGEVA declined due to biosimilars launching globally and lower net selling prices
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 16 "strong buy" or "buy", 18 "hold" and 3 "sell" or "strong sell"
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