Categories AlphaGraphs, Earnings, Health Care

Earnings preview: What to expect when Amgen reports Q1 2019 results

Amgen Inc. (NASDAQ: AMGN) is scheduled to report first-quarter 2019 earnings results on Tuesday, April 30, after market close. Analysts expect the company to report earnings of $3.45 per share on revenues of $5.5 billion. Amgen has consistently beat market expectations over the past few quarters and this trend can be expected to continue in the first quarter as well.

In the fourth quarter, Amgen surpassed analysts’ estimates with revenues that grew 7% to $6.2 billion. Adjusted EPS improved 18% to $3.42 per share. Revenue growth in the fourth quarter was driven mainly by new products such as Prolia, Kyprolis, Xgeva, and Repatha.

Amgen fourth quarter 2018 earnings snapshot
Amgen Q4 2018 Earnings Infographic

The sales momentum of these products is likely to continue in the first quarter helped by higher demand. The strong sales of these products, coupled with international expansion, could fuel growth for the company. However, Amgen continues to face challenges around Repatha, which has led to price cuts that might, in turn, hurt sales for this quarter.

Amgen also faces competitive pressures for products like Enbrel and Sensipar. Last quarter, Sensipar recorded single-digit revenue growth while Enbrel saw a drop in sales. The loss of patent exclusivity for some products is also likely to pose difficulties for the company. Investors should watch out for updates on important products such as Aimovig and Evenity as well.

For the full year of 2019, Amgen has guided for total revenues to come in the range of $21.8 billion to $22.9 billion and earnings to come in the range of $11.55 to $12.75 per share. Adjusted EPS is expected to be in the range of $13.10 to $14.30.

Amgen’s stock has fallen 5% so far this year and was down slightly by 0.4% in afternoon trade on Monday.

The company’s rivals such as Pfizer (NYSE: PFE) and Merck (NYSE: MRK) are also expected to report earnings on Tuesday.

 

Browse through our earnings calendar and get all scheduled earnings announcements, analyst/investor conference and much more!

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