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Jun 30, 2024
Amgen Q2 2024 Earnings Report
Amgen's financial performance improved with revenue growth, driven by strong product sales and contributions from the Horizon Therapeutics acquisition.
Key Takeaways
Amgen reported a 20% increase in total revenues to $8.4 billion for the second quarter of 2024. Product sales also grew by 20%, driven by a 26% increase in volume. GAAP EPS decreased by 46% to $1.38, while non-GAAP EPS decreased slightly by 1% to $4.97.
Total revenues increased by 20% to $8.4 billion compared to Q2 2023.
Product sales grew by 20%, driven by a 26% increase in volume.
GAAP EPS decreased by 46% to $1.38, driven by higher operating expenses.
Non-GAAP EPS decreased slightly by 1% to $4.97, impacted by higher operating expenses and interest expense.
Amgen
Amgen
Amgen Revenue by Segment
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.comOther products Revenue
CapyFin.com Forward Guidance
Amgen provided guidance for the full year 2024, with total revenues expected to be in the range of $32.8 billion to $33.8 billion. GAAP EPS is projected to be between $6.57 and $7.62, and non-GAAP EPS is expected to be in the range of $19.10 to $20.10.
Positive Outlook
- Total revenues are expected to be in the range of $32.8 billion to $33.8 billion.
- GAAP EPS is expected to be in the range of $6.57 to $7.62.
- Non-GAAP EPS is expected to be in the range of $19.10 to $20.10.
- Capital expenditures are anticipated to be approximately $1.3 billion.
- Share repurchases are not expected to exceed $500 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income