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Jun 30, 2022
Amgen Q2 2022 Earnings Report
Amgen's financial results for Q2 2022 were announced, demonstrating revenue growth and increased EPS.
Key Takeaways
Amgen reported a 1% increase in total revenues to $6.6 billion for Q2 2022. GAAP EPS increased to $2.45, and non-GAAP EPS increased to $4.65. The company generated $1.7 billion in free cash flow.
Total revenues increased 1% to $6.6 billion, driven by growth in global product sales.
GAAP EPS increased to $2.45, and non-GAAP EPS increased to $4.65, driven by lower operating expenses.
Free cash flow remained consistent at $1.7 billion compared to Q2 2021.
2022 total revenues guidance revised to $25.5-$26.4 billion; EPS guidance revised to $11.01-$12.15 on a GAAP basis, and reaffirmed at $17.00-$18.00 on a non-GAAP basis.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Amgen has revised its full year 2022 guidance, expecting total revenues to be in the range of $25.5 billion to $26.4 billion. GAAP EPS is projected to be between $11.01 and $12.15, while non-GAAP EPS is reaffirmed at $17.00 to $18.00.
Positive Outlook
- Total revenues are expected to be in the range of $25.5 billion to $26.4 billion.
- Capital expenditures are projected to be approximately $950 million.
- Share repurchases are expected to be in the range of $6.0 billion to $7.0 billion.
- GAAP EPS in the range of $11.01 to $12.15.
- Non-GAAP EPS reaffirmed at $17.00 to $18.00.
Challenges Ahead
- GAAP tax rate is expected to be in the range of 11.5% to 13.0%.
- Non-GAAP tax rate is expected to be in the range of 14.0% to 15.0%.
- Unspecified potential negative impacts from market competition.
- Unspecified potential negative impacts from pricing pressure.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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