Recap: Amgen Q1 Earnings

Shares of Amgen AMGN fell in after-market trading after the company reported Q1 results.

Quarterly Results

Earnings per share were down 11.27% year over year to $3.70, which missed the estimate of $4.05.

Revenue of $5,901,000,000 declined by 4.22% year over year, which missed the estimate of $6,250,000,000.

Guidance

The upcoming fiscal year's EPS expected to be between $16.00 and $17.00.

The upcoming fiscal year's revenue expected to be between $25,800,000,000 and $26,600,000,000.

How To Listen To The Conference Call

Date: Apr 27, 2021

Time: 05:00 PM

ET Webcast URL: https://edge.media-server.com/mmc/p/5btqdivk

Technicals

Company's 52-week high was at $276.69

Company's 52-week low was at $210.28

Price action over last quarter: Up 2.37%

Company Description

Amgen is a leader in biotechnology-based human therapeutics, with historical expertise in renal disease and cancer supportive-care products. Flagship drugs include red blood cell boosters Epogen and Aranesp, immune system boosters Neupogen and Neulasta, and Enbrel and Otezla for inflammatory diseases. Amgen introduced its first cancer therapeutic, Vectibix, in 2006 and markets bone-strengthening drug Prolia/Xgeva (approved 2010) and Evenity (approved 2019). The acquisition of Onyx bolstered the firm's therapeutic oncology portfolio with Nexavar and Kyprolis. Recent launches include Repatha (cholesterol-lowering) and Aimovig (migraine). Amgen's own biosimilar portfolio includes key products Mvasi (biosimilar Avastin), Kanjinti (biosimilar Herceptin), and Amgevita (biosimilar Humira).