Amgen lifts 2026 profit and revenue forecasts; shares down
AMGN•Amgen raised its 2026 adjusted profit forecast to $22.90-$23.70 per share and revenue outlook to $38.9 billion-$39.7 billion. Third-quarter revenue was $10.4 billion and adjusted earnings were $6.45 per share, while shares fell 2.2% in extended trading.
1. Forecasts raised
Amgen raised its 2026 annual adjusted profit forecast to $22.90-$23.70 per share, from $22.30-$23.50, and its revenue forecast to $38.9 billion-$39.7 billion, from $38.2 billion-$39.4 billion.
2. Quarterly results mixed
Third-quarter revenue was $10.4 billion, above analysts’ estimate of $10.1 billion, while adjusted earnings were $6.45 per share versus estimates of $5.79. Prolia sales fell 45% to $632 million, below estimates of $697 million; Tepezza sales declined 6% to $526 million, below estimates of $569.5 million, and Tavneos sales fell 2% to $105 million.
3. Shares fall after hours
Amgen shares fell 2.2% to $455.60 in extended trading. Guggenheim said stronger sales of Uplizna, Imdelltra and Enbrel drove the revenue beat, partly offset by weaker sales of Tepezza and Prolia.
