AMGEN INC Q1 FY26 Results

Summary

Amgen reported strong first quarter 2026 financial results, with total revenues increasing 6% to $8.6 billion and product sales growing 4%. GAAP earnings per share rose 4% to $3.34, while non-GAAP EPS increased 5% to $5.15. The company also generated $1.5 billion in free cash flow, a 50% increase year-over-year, reflecting robust business performance. CEO Robert A. Bradway highlighted the strength of the business with 16 brands achieving double-digit growth and expressed confidence in delivering attractive long-term growth, despite facing expected patent expirations and increased competition.

Key Highlights

1. 1

   Total revenues for the first quarter of 2026 increased by 6% to $8.6 billion compared to the first quarter of 2025.

2. 2

   GAAP earnings per share (EPS) rose by 4% to $3.34, driven by a significant increase in GAAP operating income from $1.2 billion to $2.7 billion.

3. 3

   Non-GAAP EPS grew by 5% to $5.15, while non-GAAP operating income increased from $3.6 billion to $3.7 billion.

4. 4

   The Company generated $1.5 billion in free cash flow for the first quarter of 2026, a 50% increase from $1.0 billion in the prior-year period.

5. 5

   Product sales saw a 4% increase, with 16 brands achieving double-digit growth during the quarter.

6. 6

   Amgen declared a first quarter 2026 dividend of $2.52 per share, representing a 6% increase from the same period in 2025.

7. 7

   The FDA has proposed to withdraw approval of TAVNEOS, a product acquired in 2022, citing new information indicating a lack of substantial evidence of effectiveness.