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Here's What Key Metrics Tell Us About Amgen (AMGN) Q1 Earnings
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For the quarter ended March 2024, Amgen (AMGN - Free Report) reported revenue of $7.45 billion, up 22% over the same period last year. EPS came in at $3.96, compared to $3.98 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $7.38 billion, representing a surprise of +0.93%. The company delivered an EPS surprise of +5.32%, with the consensus EPS estimate being $3.76.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Amgen performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Product Sales- EPOGEN- US: $41 million compared to the $47.52 million average estimate based on nine analysts. The reported number represents a change of -31.7% year over year.
Product Sales- LUMAKRAS/LUMYKRAS- US: $53 million compared to the $53.57 million average estimate based on six analysts. The reported number represents a change of +10.4% year over year.
Product Sales- Aranesp- US: $100 million compared to the $102.53 million average estimate based on six analysts. The reported number represents a change of -13% year over year.
Product Sales- Aranesp- ROW: $249 million versus $225.41 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +3.8% change.
Revenue- Product sales: $7.12 billion versus the 10-analyst average estimate of $7.12 billion. The reported number represents a year-over-year change of +21.8%.
Revenue- Other revenues: $329 million versus $280.78 million estimated by 10 analysts on average. Compared to the year-ago quarter, this number represents a +27% change.
Product Sales- BLINCYTO- Total: $244 million versus $240.38 million estimated by nine analysts on average. Compared to the year-ago quarter, this number represents a +25.8% change.
Product Sales- Repatha- Total: $517 million versus $447.91 million estimated by nine analysts on average. Compared to the year-ago quarter, this number represents a +33.3% change.
Product Sales- KYPROLIS- Total: $376 million versus $379.53 million estimated by nine analysts on average. Compared to the year-ago quarter, this number represents a +5% change.
Product Sales- Vectibix- Total: $247 million versus the nine-analyst average estimate of $240.69 million. The reported number represents a year-over-year change of +6%.
Product Sales- Enbrel- Total: $567 million versus $590.79 million estimated by nine analysts on average. Compared to the year-ago quarter, this number represents a -2.1% change.
Product Sales- Aranesp- Total: $349 million versus $321.59 million estimated by nine analysts on average. Compared to the year-ago quarter, this number represents a -1.7% change.
Shares of Amgen have returned +1.1% over the past month versus the Zacks S&P 500 composite's -4.2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Here's What Key Metrics Tell Us About Amgen (AMGN) Q1 Earnings
For the quarter ended March 2024, Amgen (AMGN - Free Report) reported revenue of $7.45 billion, up 22% over the same period last year. EPS came in at $3.96, compared to $3.98 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $7.38 billion, representing a surprise of +0.93%. The company delivered an EPS surprise of +5.32%, with the consensus EPS estimate being $3.76.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Amgen performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Product Sales- EPOGEN- US: $41 million compared to the $47.52 million average estimate based on nine analysts. The reported number represents a change of -31.7% year over year.
- Product Sales- LUMAKRAS/LUMYKRAS- US: $53 million compared to the $53.57 million average estimate based on six analysts. The reported number represents a change of +10.4% year over year.
- Product Sales- Aranesp- US: $100 million compared to the $102.53 million average estimate based on six analysts. The reported number represents a change of -13% year over year.
- Product Sales- Aranesp- ROW: $249 million versus $225.41 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +3.8% change.
- Revenue- Product sales: $7.12 billion versus the 10-analyst average estimate of $7.12 billion. The reported number represents a year-over-year change of +21.8%.
- Revenue- Other revenues: $329 million versus $280.78 million estimated by 10 analysts on average. Compared to the year-ago quarter, this number represents a +27% change.
- Product Sales- BLINCYTO- Total: $244 million versus $240.38 million estimated by nine analysts on average. Compared to the year-ago quarter, this number represents a +25.8% change.
- Product Sales- Repatha- Total: $517 million versus $447.91 million estimated by nine analysts on average. Compared to the year-ago quarter, this number represents a +33.3% change.
- Product Sales- KYPROLIS- Total: $376 million versus $379.53 million estimated by nine analysts on average. Compared to the year-ago quarter, this number represents a +5% change.
- Product Sales- Vectibix- Total: $247 million versus the nine-analyst average estimate of $240.69 million. The reported number represents a year-over-year change of +6%.
- Product Sales- Enbrel- Total: $567 million versus $590.79 million estimated by nine analysts on average. Compared to the year-ago quarter, this number represents a -2.1% change.
- Product Sales- Aranesp- Total: $349 million versus $321.59 million estimated by nine analysts on average. Compared to the year-ago quarter, this number represents a -1.7% change.
View all Key Company Metrics for Amgen here>>>Shares of Amgen have returned +1.1% over the past month versus the Zacks S&P 500 composite's -4.2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.