Amgen Q3 2021 Earnings Report
Key Takeaways
Amgen reported a 4% increase in total revenues to $6.7 billion for the third quarter of 2021, driven by higher unit demand. GAAP EPS decreased 3% to $3.31, while non-GAAP EPS increased 11% to $4.67. The company generated $2.2 billion in free cash flow.
Total revenues increased 4% to $6.7 billion, driven by higher unit demand.
GAAP EPS decreased 3% to $3.31, impacted by a licensing-related expense.
Non-GAAP EPS increased 11% to $4.67, driven by increased revenues.
Generated $2.2 billion of free cash flow, influenced by COVID-19 related payment terms in the prior year.
Amgen
Amgen
Amgen Revenue by Segment
Amgen Revenue by Geographic Location
Forward Guidance
Amgen provided full year 2021 guidance, expecting total revenues in the range of $25.8 billion to $26.2 billion, GAAP EPS in the range of $9.55 to $10.21, and non-GAAP EPS in the range of $16.50 to $17.10.
Positive Outlook
- Total revenues in the range of $25.8 billion to $26.2 billion.
- GAAP EPS in the range of $9.55 to $10.21.
- Non-GAAP EPS in the range of $16.50 to $17.10.
- Capital expenditures to be approximately $900 million.
- Share repurchases at the upper end of $3.0 billion to $5.0 billion range.
Revenue & Expenses
Visualization of income flow from segment revenue to net income