Loading...
•
Mar 31, 2021
Amgen Q1 2021 Earnings Report
Amgen's financial performance declined due to the impact of COVID-19 but was offset by volume growth in key products.
Key Takeaways
Amgen's first quarter 2021 results showed a decrease in total revenues by 4% to $5.9 billion, driven by lower net selling prices, though partially offset by volume growth. GAAP EPS decreased by 8% to $2.83, while non-GAAP EPS decreased by 12% to $3.70. The company reaffirmed its full-year revenue guidance and revised its GAAP EPS guidance.
Total revenues decreased by 4% to $5.9 billion due to lower net selling prices, offset by volume growth.
GAAP EPS decreased by 8% to $2.83, and non-GAAP EPS decreased by 12% to $3.70.
The company generated $1.9 billion in free cash flow, compared to $2.0 billion in the first quarter of 2020.
2021 total revenues guidance reaffirmed at $25.8-$26.6 billion; EPS guidance revised to $9.11-$10.71 on a GAAP basis, and reaffirmed at $16.00-$17.00 on a non-GAAP basis.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Amgen reaffirmed its total revenue guidance for 2021, projecting revenues between $25.8 billion and $26.6 billion. The company revised its GAAP EPS guidance to $9.11-$10.71 and reaffirmed its non-GAAP EPS guidance at $16.00-$17.00.
Positive Outlook
- Total revenues in the range of $25.8 billion to $26.6 billion, unchanged from previous guidance.
- On a non-GAAP basis, EPS in the range of $16.00 to $17.00, unchanged from previous guidance
- Share repurchases in the range of $3.0 billion to $5.0 billion, versus previous guidance of $3.0 billion to $4.0 billion.
- Enrollment completed in a Phase 3 study (CodeBreaK 200) comparing LUMAKRAS to docetaxel in patients with KRAS G12C-mutated advanced NSCLC.
- Regulatory submissions in the U.S. and EU are expected in Q2 2021 for Tezepelumab.
Challenges Ahead
- On a GAAP basis, EPS in the range of $9.11 to $10.71.
- Previously, the Company expected GAAP EPS in the range of $12.12 to $13.17.
- Capital expenditures to be approximately $900 million.
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
Loading earnings performance data...
Loading earnings reaction data...