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Dec 31, 2020
Amgen Q4 2020 Earnings Report
Amgen reported a 7% increase in total revenue, driven by higher volume growth, but faced a decrease in GAAP EPS due to amortization of costs associated with the Otezla acquisition.
Key Takeaways
Amgen's Q4 2020 financial results showed a 7% increase in total revenues to $6.6 billion, driven by volume growth. However, GAAP EPS decreased by 3% to $2.76, primarily due to Otezla acquisition costs. Non-GAAP EPS increased by 5% to $3.81. The company's 2021 revenue guidance is $25.8-$26.6 billion.
Total revenues increased by 7% to $6.6 billion, driven by higher volume growth.
GAAP EPS decreased by 3% to $2.76, impacted by Otezla acquisition amortization.
Non-GAAP EPS increased by 5% to $3.81, driven by increased revenues.
Product sales increased 8% globally, driven by 13% volume growth across the portfolio.
Revenue by Segment
Forward Guidance
Amgen anticipates total revenues between $25.8 billion and $26.6 billion for 2021. The company projects GAAP EPS to be in the range of $12.12 to $13.17 and non-GAAP EPS in the range of $16.00 to $17.00.
Positive Outlook
- Total revenues in the range of $25.8 billion to $26.6 billion.
- GAAP EPS in the range of $12.12 to $13.17.
- Non-GAAP EPS in the range of $16.00 to $17.00.
- Capital expenditures to be approximately $900 million.
- Share repurchases in the range of $3.0B to $4.0B subject to our Board's authorization.
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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