- Amgen Inc's AMGN Q3 revenue reached $6.65 billion, down 1% Y/Y, due to 8% volume growth offset primarily by a 5% lower net selling price and a 2% negative impact from foreign exchange. Analysts estimated sales of $6.56 billion.
- Excluding the 2% negative impact of foreign exchange, total revenues increased by 2%.
- The company reported Q3 adjusted EPS of $4.70, up 15%, beating the consensus of $4.44.
- Related: Amgen's Lumakras Cuts Risk Of Progression By 34% In KRAS-Mutated Lung Cancer Patients.
- The company also said data from a Phase I study of its potential obesity treatment AMG133 would be presented at the World Congress on Insulin Resistance, Diabetes, and Cardiovascular Disease conference in December.
- AMG133 is designed to block a hormone and protein in blood sugar control.
- "Our medicines generated 8% volume growth in the quarter globally, with 11 products achieving record quarterly sales," Amgen Chief Executive Robert Bradway said in a statement.
- Guidance: For FY22, Amgen narrowed its adjusted EPS outlook to $17.25-$17.85 on revenue of $26-$26.3 billion from its previous forecast of $17-$18 per share on revenue of $25.5-$26.4 billion.
- Price Action: AMGN shares are up 1.18% at $269.01 premarket on the last check Friday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Date | ticker | name | Actual EPS | EPS Surprise | Actual Rev | Rev Surprise |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in