Amgen Q1 2023: Revenue $6.1B (-2%); GAAP EPS $5.28; non-GAAP EPS $3.98 (-6%)

AMGEN INC

2023-Q1 EPS reported $5.28 revenue$6,105,000,000

Total revenues $6.1B (-2% YoY); product sales +2% with 14% volume growth; ex-U.S. volume grew 22%.
GAAP EPS $5.28 (+97% YoY) on BeiGene mark-to-market gain; non-GAAP EPS $3.98 (-6%) driven by higher R&D.
GAAP operating income $1.9B (32.9% margin); non-GAAP operating income $2.8B (48.3% margin).
Free cash flow $0.7B vs $2.0B in Q1 2022, due to payment timing and higher capex for new facilities.
CEO reaffirms planned closing of Horizon Therapeutics acquisition.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

AMGEN INC reported three months ended March 31, 2023 results: revenue $6.1 billion, EPS $5.28.

Period: three months ended March 31, 2023
Revenue: $6.1 billion
EPS: $5.28
Result: reported results

Exact text from the filing

Key results include: • Total revenues decreased 2% to $6.1 billion in comparison to the first quarter of 2022, resulting from lower Other Revenue from our COVID-19 manufacturing collaboration, partially offset by a 2% increase in product sales. Produ ct sales growth was driven by 14% volume growth, partially offset by 5% lower net selling price, 3% unfavorable changes to estimated sales deductions, 2% lower inventory levels and 2% negative impact from foreign exchange. Excluding the 2% negative impact of foreign exchange on product sales, total revenues were largely unchanged from Q1 2022. ◦ Volume growth of 14% included double-digit volume growth from EVENITY ® (romosozumab-aqqg), BLINCYTO ® (blinatumomab), Nplate ® (romiplostim), LUMAKRAS ® /LUMYKRASTM (sotorasib), AMJEVITA ® /AMGEVITATM (adalimumab), Repatha ® (evolocumab), KYPROLIS ® (carfilzomib) and Vectibix ® (panitumumab). ◦ Ex-U.S. volume grew 22%, including 47% volume growth in the Asia Pacific region. • GAAP earnings per sha

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Source: SEC EDGAR

accession 0000318154-23-000026

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