Amgen Inc., the Thousand Oaks headquartered Pharma giant, reported its Q2 2024 earnings on August 6th. My last coverage of Amgen was in May after Q1 earnings, and I awarded the stock a “buy” recommendation. Q2 earnings were generally solid, with the Horizon assets bedding in well, meaning revenues grew 20% year-on-year.
Amgen (AMGN) shares tumbled 5% Wednesday after the drug developer lowered its full-year earnings guidance.
On Tuesday, Amgen Inc. AMGN reported mixed second-quarter results.
The pharmaceutical company's second-quarter numbers were roughly in line with expectations. Amgen's slight earnings miss, however, was enough to spark a sizeable sell-off.
Amgen (AMGN) beats second-quarter 2024 estimates for earnings and sales. It tightens its revenue and earnings guidance range for 2024.
Amgen NASDAQ: AMGN is a biotechnology firm that has made its way into the weight loss treatment battle. The company's shares have performed relatively well in 2024, providing a total return of 16%, outpacing its sector and the market.
Amgen Inc. (NASDAQ:AMGN ) Q2 2024 Results Conference Call August 6, 2024 4:30 PM ET Company Participants Justin Claeys - Vice President of Investor Relations Bob Bradway - Chairman, CEO & President Murdo Gordon - EVP, Global Commercial Operations Vikram Karnani - EVP & President, Global Commercial Operations & Medical Affairs (Rare Disease) Jay Bradner - EVP, Research and Development & Chief Scientific Officer Peter Griffith - EVP & CFO Conference Call Participants Yaron Werber - TD Cowen Salveen Richter - Goldman Sachs Evan Seigerman - BMO Capital Markets Mike Yee - Jefferies Umer Raffat - Evercore ISI Jay Olson - Oppenheimer Mohit Bansal - Wells Fargo Gregory Renza - RBC Capital Markets Chris Raymond - Piper Sandler Carter Gould - Barclays Terence Flynn - Morgan Stanley Chris Schott - JPMorgan Kripa Devarakonda - Truist Securities James Shin - Deutsche Bank Gary Nachman - Raymond James Operator My name is Julianne, and I will be your conference facilitator today for Amgen's Second Quarter 2024 Financial Results Conference Call. All lines have been placed on mute to prevent any background noise.
The headline numbers for Amgen (AMGN) give insight into how the company performed in the quarter ended June 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
Amgen (AMGN) came out with quarterly earnings of $4.97 per share, beating the Zacks Consensus Estimate of $4.93 per share. This compares to earnings of $5 per share a year ago.
Amgen stock fell late Tuesday after the biotech reported lighter-than-expected second-quarter profits, though sales beat.
Amgen on Tuesday said its second-quarter profit slipped 1% as higher expenses offset a 20% increase in revenue driven by the biotechnology company's October acquisition of rare disease drugmaker Horizon Therapeutics.
Amgen Inc. AMGN is expected to release earnings results for its second quarter, after the closing bell on Tuesday, Aug. 6.