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Mar 31
Amgen Q1 2025 Earnings Report
Amgen reported strong Q1 2025 results driven by robust product sales and favorable investment gains.
Key Takeaways
Amgen's Q1 2025 revenue grew to $8.1 billion with significant net income improvement due to strong product demand and an equity investment gain. Adjusted EPS rose 24%, bolstered by higher revenues and operating efficiency.
Revenue reached $8.1 billion, up 9% from Q1 2024, with product sales growing 11%.
Net income turned positive at $1.73 billion, benefiting from a gain on BeiGene equity investment.
Adjusted EPS rose to $4.90 from $3.96, reflecting stronger margins.
Free cash flow doubled year-over-year to $1 billion.
Amgen
Amgen
Amgen Revenue by Segment
Amgen Revenue by Geographic Location
Revenue by Segment
Repatha Revenue
CapyFin.comEVENITY Revenue
CapyFin.comProlia Revenue
CapyFin.comOtezla Revenue
CapyFin.comEnbrel Revenue
CapyFin.comKyprolis Revenue
CapyFin.comXGEVA Revenue
CapyFin.comVectibix Revenue
CapyFin.comNplate Revenue
CapyFin.comBLINCYTO Revenue
CapyFin.comAranesp Revenue
CapyFin.comParsabiv Revenue
CapyFin.comAMJEVITA / AMGEVITA Revenue
CapyFin.comMVASI Revenue
CapyFin.comNeulasta Revenue
CapyFin.comUPLIZNA Revenue
CapyFin.comTEZSPIRE Revenue
CapyFin.comIMDELLTRA Revenue
CapyFin.comWEZLANA Revenue
CapyFin.comPAVBLU Revenue
CapyFin.comOther products Revenue
CapyFin.comRevenue by Geographic Location
United States Revenue
CapyFin.comRest of World Revenue
CapyFin.com Forward Guidance
Amgen expects continued revenue growth in 2025, with EPS projections supported by strong product performance and R&D momentum.
Positive Outlook
- Total revenue guidance of $34.3B to $35.7B.
- GAAP EPS guidance between $12.21 and $13.46.
- Non-GAAP EPS expected between $20.00 and $21.20.
- Strong pipeline with multiple Phase 3 trials underway.
- Projected capital expenditures of approximately $2.3B support strategic initiatives.
Challenges Ahead
- Ongoing biosimilar competition expected to impact products like Prolia and Xgeva.
- Guidance excludes potential future tariffs, adding external risk.
- No share repurchases planned beyond $500M.
- TEPEZZA and Enbrel facing volume or price headwinds.
- Debt remains high at $57.4B despite $2.8B repayment in Q1.
Revenue & Expenses
Visualization of income flow from segment revenue to net income