Amgen (AMGN) Earnings Date & Reports

Key Takeaways

• Revenue rose 8% year over year to $10.37 billion, topping the roughly $10.05 billion consensus estimate.
• Adjusted earnings per share (EPS) climbed 14% to $6.45, comfortably ahead of the ~$5.76–$5.79 Wall Street consensus.
• GAAP net income reached $3.86 billion, or $7.08 per share, up 19% on a per-share basis from a year earlier.
• Full-year guidance was raised, with 2026 revenue now seen at $38.9–$39.7 billion and adjusted EPS at $22.90–$23.70.
• Growth engines delivered: Repatha rose 37%, Uplizna surged 191%, and Imdelltra jumped 128% year over year.
• Biosimilar pressure intensified, with Prolia down 45% and XGEVA down 47% as competition weighed on the bone-health franchise.
• For more detail on Amgen, you can review its Major News, Today's Price Move, Price Targets, and Forecast on additional pages.
• To discover AI-driven trading ideas across the broader market, explore Trending AI Robots.

Earnings Context and Why It Matters

Amgen's third-quarter report offers a clear read on how the biotech giant is managing a pivotal transition. The company is simultaneously scaling newer medicines such as Repatha, Uplizna, Tezspire, and Imdelltra while absorbing steep erosion in legacy products like Prolia and Xgeva, which face growing biosimilar competition. Investors also track progress on MariTide, the experimental weight-loss drug that could reshape the company's long-term growth profile. Against this backdrop, the quarter tested whether Amgen's volume-driven momentum can outpace competitive headwinds and support its raised full-year outlook, making the results a key barometer for the stock's direction.

Reported Results

Amgen reported third-quarter total revenue of $10.37 billion, an 8% increase from the prior-year period and slightly above the roughly $10.05–$10.1 billion analyst consensus. Adjusted earnings per share came in at $6.45, up 14% year over year and well ahead of the ~$5.76–$5.79 Wall Street estimate, according to data from LSEG and FactSet. On a GAAP (Generally Accepted Accounting Principles) basis, net income totaled $3.86 billion, or $7.08 per share.

Performance was led by several growth products. Repatha sales rose 37% to about $1.09 billion, Evenity climbed 39% to $751 million, and Tezspire advanced 43% to $538 million. Uplizna surged 191% to $451 million, while the cancer therapy Imdelltra jumped 128% to $406 million. These gains were partly offset by biosimilar-driven declines: Prolia fell 45% to $632 million and Xgeva dropped 47% to $288 million. Amgen generated $3.7 billion in free cash flow, down from $4.2 billion a year earlier.

Management also raised its full-year 2026 outlook, now guiding to revenue of $38.9 billion to $39.7 billion and adjusted EPS of $22.90 to $23.70, with capital expenditures expected near $2.6 billion.

AI Screener

Tickeron's AI Screener is an AI-powered stock and ETF discovery tool that helps traders and investors filter the market based on technical patterns, fundamentals, trends, volatility, and AI-driven signals. Users can scan thousands of stocks and ETFs using customizable filters such as industry, market capitalization, technical indicators, price patterns, and performance metrics. The screener is designed to surface trade ideas, trending stocks, breakout candidates, and market opportunities more efficiently than manual screening. For investors tracking names like Amgen, it can help identify comparable opportunities and shifting market conditions at a glance.

Market Reaction and Investor Sentiment

Despite topping both revenue and earnings expectations, Amgen shares slipped in the immediate aftermath of the report, falling roughly 1.5% to 2% in after-hours trading. The muted reaction reflected investor focus on the sharp declines in Prolia and Xgeva, which underscored the growing competitive threat from biosimilars to two long-standing blockbuster franchises. While the strength of newer products and the raised guidance were viewed positively, concerns about the durability of the legacy bone-health business tempered enthusiasm. The market's response suggests investors are weighing near-term erosion against the company's emerging growth portfolio rather than rewarding the headline beat outright.

Forward Outlook and Key Factors to Monitor

Following the third-quarter results, investors will be watching whether Amgen's growth engines can continue offsetting biosimilar pressure on Prolia and Xgeva. Sustained momentum from Repatha, Evenity, Tezspire, Uplizna, and Imdelltra remains central to the company's ability to hit its raised 2026 targets.

A major catalyst on the horizon is MariTide, Amgen's investigational weight-loss therapy. With multiple late-stage studies underway, upcoming data readouts could materially shape the company's long-term narrative and investor sentiment, particularly given the intense competition in the obesity and cardiometabolic markets.

Cost discipline and margin trends also merit attention. While the company raised its outlook, investors will monitor operating expenses, tax rate assumptions, and free cash flow generation, which declined in the quarter. Any shifts in these metrics could influence how the market interprets the quality of future earnings growth. Finally, the pace of biosimilar launches and their impact on pricing will remain a key risk to watch across the legacy portfolio.

Disclaimer

The information on this webpage is provided for general informational and educational purposes only and is not intended as investment advice, a recommendation to purchase or sell any security, or an offer or solicitation related to investments. It does not consider your personal financial situation, goals, or risk profile, and all investing carries inherent risks, including the possibility of losing your entire investment. For more details, please review our full disclaimer.

Disclaimers and Limitations