Amgen Beats Estimates with Q2 Earnings, Revenues and Adjusted EPS

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Amgen Inc ($NASDAQ:AMGN). is a large biopharmaceutical company based in Thousand Oaks, California. Recently, Amgen reported their Q2 earnings which beat estimates on both revenue and adjusted earnings per share (EPS). Anjalee Khemlani, Yahoo Finance Health Care Reporter, joined the Live show to discuss the strong results. This marks the tenth consecutive quarter in which Amgen has beaten expectations on both EPS and revenue. The company attributed this success to higher sales of key products such as Enbrel, Prolia, and Nplate.

The biotech giant also announced that it is raising its full-year 2021 guidance on both revenue and non-GAAP EPS. Moving forward, Amgen is focusing on continuing to build its pipeline of innovative treatments and expanding its portfolio of products to address serious medical conditions. With strong Q2 results and an impressive outlook for the remainder of 2021, Amgen is in a strong position to continue to thrive in the coming years.

Earnings

AMGEN INC released its earning report for the second quarter of fiscal year 2023, ending June 30 2021, and it exceeded analysts’ expectations. The report revealed that the company earned a total revenue of $6526.0M USD and $464.0M USD in net income. This is a 1.0% decrease in total revenue and a 64.8% decrease in net income when compared to the same period last year.

However, AMGEN INC’s total revenue has increased from $6526.0M USD to $6986.0M USD in the past three years. This report reflects the strong performance of the company despite the challenges of the current global environment.

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Amgen Inc. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Amgen Inc. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Amgen Inc. More…

Key Ratios Snapshot

Some of the financial key ratios for Amgen Inc are shown below. More…

Price History

On Friday, AMGEN INC stock opened at $237.9 and closed at $243.3, a rise of 5.5% from the previous closing price of $230.7. The company beat estimates with its Q2 earnings, revenues, and adjusted EPS, setting new records in each category. The strong results pushed AMGEN’s stock to a 5.5% gain on the day and marks yet another positive quarter for the company. Live Quote…

Analysis

At GoodWhale, we have conducted an in-depth analysis of AMGEN INC‘s fundamentals. Our Risk Rating system has rated AMGEN INC as a medium risk investment, taking into account both its financial and business aspects. Our analysis has detected two risk warnings in the company’s income sheet and balance sheet. If you want to take a look, simply register with GoodWhale and see firsthand how AMGEN INC’s financials stand up against our system. More…

Peers

The competition between Amgen Inc and its competitors is fierce. Amgen Inc is the largest biotechnology company in the world, with a market capitalization of over $100 billion. Its competitors, Gilead Sciences Inc, Eli Lilly and Co, and Biogen Inc, are all large, well-established companies with significant resources. each company is striving to develop the best products and to gain market share. The competition is intense, and each company is working hard to win.

– Gilead Sciences Inc ($NASDAQ:GILD)

Gilead Sciences Inc is a biopharmaceutical company that focuses on the discovery, development, and commercialization of drugs. The company was founded in 1987 and is headquartered in Foster City, California. Gilead Sciences Inc has a market cap of 83.2B as of 2022, a Return on Equity of 24.03%. The company’s key products include HIV/AIDS treatment, hepatitis C treatment, and oncology products. Gilead Sciences Inc also has a pipeline of products in development for various indications, including HIV, hepatitis B, non-alcoholic steatohepatitis, and respiratory syncytial virus.

– Eli Lilly and Co ($NYSE:LLY)

Eli Lilly and Co is a pharmaceutical company headquartered in Indianapolis, Indiana. The company was founded in 1876 by Colonel Eli Lilly. The company develops and markets products in the areas of diabetes, oncology, immunology, neuroscience, and other areas. Lilly has operations in more than 60 countries and sells products in more than 125 countries. Lilly has been one of the world’s leading innovators in the pharmaceutical industry, with products such as Prozac, Zyprexa, and Cialis. The company has a market cap of 316.18B as of 2022 and a Return on Equity of 45.88%.

– Biogen Inc ($NASDAQ:BIIB)

Biogen Inc. is a global biotechnology company. The company is engaged in the discovery, development, manufacturing and commercialization of therapies for the treatment of neurodegenerative diseases, hematologic conditions and autoimmune diseases. Biogen has a market cap of $39.12B as of 2022 and a return on equity of 14.98%. The company’s products include aducanumab, a monoclonal antibody for the treatment of Alzheimer’s disease; SPINRAZA, a therapeutic agent for the treatment of spinal muscular atrophy; and TYSABRI, a monoclonal antibody for the treatment of multiple sclerosis.

Summary

AMGEN Inc. (AMGN) reported strong Q2 earnings that easily beat analyst estimates on both revenue and adjusted EPS. As a result, the company’s stock price moved up significantly the same day, indicating that investors are pleased with the results. The company has a strong balance sheet and cash flow, allowing it to pursue potential acquisitions or investments in new projects.

In addition, AMGN has a long history of returning value to shareholders through dividend payments and share repurchases. All in all, the company’s Q2 earnings report suggests that AMGN is in a good position to continue its upward momentum in the long-term.