X
<

How Amgen Performed in 3Q17

PART:
1 2 3 4 5 6 7
How Amgen Performed in 3Q17 PART 1 OF 7

How Did Amgen Perform in 3Q17?

Amgen revenue trends

In 3Q17, Amgen (AMGN) generated revenues of around $5.8 billion, which reflected a ~1% decline on a year-over-year (or YoY) basis and a ~1% decline on a quarter-over-quarter basis. In 3Q17, Amgen generated revenues of around $5.4 billion from product sales compared to $5.5 billion in 3Q16. In 3Q17, Prolia, Kyprolis, and Repatha primarily propelled the revenue growth, which was partially offset by the decline in Neupogen, Enbrel, and Epogen revenues.

How Did Amgen Perform in 3Q17?

Interested in ABBV? Don't miss the next report.

Receive e-mail alerts for new research on ABBV

Success! You are now receiving e-mail alerts for new research. A temporary password for your new Market Realist account has been sent to your e-mail address.

Success! has been added to your Ticker Alerts.

Success! has been added to your Ticker Alerts. Subscriptions can be managed in your user profile.

In 3Q17, Amgen reported non-GAAP (generally accepted accounting principles) operating income of around $3.0 billion compared to $2.9 billion in 3Q16. In 3Q17, non-GAAP operating income accounted for 55.6% of net product sales compared to 52.9% in 3Q16.

In 3Q17, Amgen reported non-GAAP net income of around $2.4 billion compared to $2.3 billion in 3Q16. In 3Q17, Amgen reported non-GAAP earnings per share (or EPS) of around $3.27 compared to $3.02 in 3Q16. In 3Q17, non-GAAP EPS witnessed 8% growth on a YoY basis. Higher operating margins were the main factor in the company’s EPS growth.

3Q17 expenses

In 3Q17, Amgen reported the cost of product sales of around $735 million compared to $715 million in 3Q16. In 3Q17, Amgen reported R&D (research and development) expenses and SG&A (selling, general, and administrative) expenses of around $858 million and $1.1 billion, respectively, compared to $963 million and $1.2 billion in 3Q16.

2017 revenue guidance

After 3Q17, Amgen expects net revenues in fiscal 2017 to be in the range of $22.7 billion to $23.0 billion. Amgen anticipates earnings per share (or EPS) to be in the range of $12.50 to $12.70. Repatha and Kyprolis are expected to boost Amgen’s revenue growth.

AbbVie (ABBV), Celgene (CELG), and Johnson & Johnson (JNJ), Amgen’s peers in the rheumatology drugs market, generated revenues of around $7.0 billion, $3.2 billion, and $19.7 billion, respectively, in 3Q17.

The revenue growth of Amgen could boost the share prices of the Health Care Select Sector SPDR Fund (XLV). Amgen makes up about ~3.9% of XLV’s total portfolio holdings.

X

Please select a profession that best describes you: