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Mar 31, 2020
Amgen Q1 2020 Earnings Report
Amgen's financial performance was driven by increased unit demand, offset by lower net selling prices.
Key Takeaways
Amgen reported an 11% increase in total revenues to $6.2 billion for Q1 2020 compared to Q1 2019. GAAP EPS decreased by 3% to $3.07, while non-GAAP EPS increased by 17% to $4.17. The company generated $2.0 billion in free cash flow during the quarter and reaffirmed its 2020 total revenue guidance.
Total revenues increased by 11% to $6.2 billion due to higher unit demand.
GAAP EPS decreased by 3% to $3.07, influenced by Otezla acquisition costs.
Non-GAAP EPS increased by 17% to $4.17, driven by higher revenues and fewer shares outstanding.
The company generated $2.0 billion in free cash flow.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Amgen reaffirmed its full-year 2020 guidance for total revenues and non-GAAP EPS.
Positive Outlook
- Total revenues are expected to be in the range of $25.0 billion to $25.6 billion.
- GAAP EPS is projected to be between $10.65 and $11.45.
- The GAAP tax rate is anticipated to be in the range of 10.5% to 11.5%.
- Non-GAAP EPS is expected to be in the range of $14.85 to $15.60.
- The non-GAAP tax rate is projected to be between 13.5% and 14.5%.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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