Amgen Q4 2022 Earnings Report
Key Takeaways
Amgen's Q4 2022 revenues remained largely unchanged at $6.8 billion, while GAAP EPS decreased by 11% to $3.00 and non-GAAP EPS decreased by 7% to $4.09. The company's product sales benefited from a 10% volume growth, offset by lower net selling prices and foreign exchange impacts.
Total revenues were $6.8 billion, largely unchanged from Q4 2021.
GAAP earnings per share (EPS) decreased 11% from $3.36 to $3.00.
Non-GAAP EPS decreased 7% from $4.40 to $4.09.
Product sales increased 4%, driven by 10% volume growth, partially offset by lower net selling price and foreign exchange impacts.
Amgen
Amgen
Amgen Revenue by Segment
Forward Guidance
For the full year 2023, excluding any contribution from the announced acquisition of Horizon Therapeutics, the Company expects: •Total revenues in the range of $26.0 billion to $27.2 billion. •On a GAAP basis, EPS in the range of $13.16 to $14.41, and a tax rate in the range of 17.0% to 18.5%. •On a non-GAAP basis, EPS in the range of $17.40 to $18.60, and a tax rate in the range of 18.0% to 19.0%. •Capital expenditures to be approximately $925 million. •Share repurchases not to exceed $500 million.
Positive Outlook
- Total revenues in the range of $26.0 billion to $27.2 billion.
- GAAP EPS in the range of $13.16 to $14.41
- GAAP tax rate in the range of 17.0% to 18.5%.
- Non-GAAP EPS in the range of $17.40 to $18.60
- Non-GAAP tax rate in the range of 18.0% to 19.0%.
Revenue & Expenses
Visualization of income flow from segment revenue to net income