OpenNashEarnings

Pharmaceuticals · Nasdaq: AMGN

Amgen earnings: results, call transcripts & KPI history

2 quarters · fiscal year ends December · next results expected around 2 Feb 2027

Investor relations ↗SEC filings ↗KPIs as CSV

Latest: Q3 2026

Amgen's third quarter 2026 total revenues increased 8% to $10.4 billion, with GAAP EPS up 19% from $5.93 to $7.08 and non-GAAP EPS up 14% from $5.64 to $6.45.

Amgen grew total revenues 8% to $10.4 billion in the third quarter, driven by volume growth. Seventeen products grew at least 10% and seventeen now sell at an annual pace above $1 billion. Repatha, EVENITY, TEZSPIRE, UPLIZNA and IMDELLTRA grew strongly, while Prolia and XGEVA fell sharply on biosimilar competition. GAAP EPS rose to $7.08 and non-GAAP EPS to $6.45. Free cash flow was $3.7 billion, down from $4.2 billion a year earlier.

Read the Q3 2026 summary →

Quarters

KPI history

Revenue$10.4B+8.5% y/yQ3 2026
Q4 2024: $9.1B (worked out from the annual figure)Q4 ’24$9.1BQ1 2025: $8.1BQ1 ’25$8.1BQ2 2025: $9.2BQ2 ’25$9.2BQ3 2025: $9.6BQ3 ’25$9.6BQ4 2025: $9.9B (worked out from the annual figure)Q4 ’25$9.9BQ1 2026: $8.6BQ1 ’26$8.6BQ2 2026: $10.1BQ2 ’26$10.1BQ3 2026: $10.4BQ3 ’26$10.4B

Fourth quarter worked out from the annual figure.

Data
Q4 2024$9.1B *
Q1 2025$8.1B
Q2 2025$9.2B
Q3 2025$9.6B
Q4 2025$9.9B *
Q1 2026$8.6B
Q2 2026$10.1B
Q3 2026$10.4B
Diluted EPS (GAAP)$7.08+19.4% y/yQ3 2026
Q1 2025: $3.20Q1 ’25$3.20Q2 2025: $2.65Q2 ’25$2.65Q3 2025: $5.93Q3 ’25$5.93Q1 2026: $3.34Q1 ’26$3.34Q2 2026: $4.37Q2 ’26$4.37Q3 2026: $7.08Q3 ’26$7.08
Data
Q1 2025$3.20
Q2 2025$2.65
Q3 2025$5.93
Q1 2026$3.34
Q2 2026$4.37
Q3 2026$7.08

Fourth-quarter EPS appears once the press release is read; filings report it only for the full year.

Operating margin35.8%+9.4 pts y/yQ3 2026
Q4 2024: 25.4%Q4 ’2425.4%Q1 2025: 14.5%Q1 ’2514.5%Q2 2025: 28.9%Q2 ’2528.9%Q3 2025: 26.4%Q3 ’2526.4%Q4 2025: 27.6%Q4 ’2527.6%Q1 2026: 30.9%Q1 ’2630.9%Q2 2026: 35.0%Q2 ’2635.0%Q3 2026: 35.8%Q3 ’2635.8%
Data
Q4 202425.4%
Q1 202514.5%
Q2 202528.9%
Q3 202526.4%
Q4 202527.6%
Q1 202630.9%
Q2 202635.0%
Q3 202635.8%
Free cash flow$3.7B−14.0% y/yQ3 2026
Q4 2024: $4.4BQ4 ’24$4.4BQ1 2025: $980.0MQ1 ’25$980.0MQ2 2025: $1.9BQ2 ’25$1.9BQ3 2025: $4.2BQ3 ’25$4.2BQ4 2025: $961.0MQ4 ’25$961.0MQ1 2026: $1.5BQ1 ’26$1.5BQ2 2026: $3.5BQ2 ’26$3.5BQ3 2026: $3.7BQ3 ’26$3.7B
Data
Q4 2024$4.4B
Q1 2025$980.0M
Q2 2025$1.9B
Q3 2025$4.2B
Q4 2025$961.0M
Q1 2026$1.5B
Q2 2026$3.5B
Q3 2026$3.7B

Operating cash flow minus capital expenditure, from cash flow statements.

Q4 2024Q1 2025Q2 2025Q3 2025Q4 2025Q1 2026Q2 2026Q3 2026
Revenue$9.1Bd$8.1B$9.2B$9.6B$9.9Bd$8.6B$10.1B$10.4B
Operating income$2.3Bd$1.2B$2.7B$2.5B$2.7Bd$2.7B$3.5B$3.7B
Operating margin25.4%14.5%28.9%26.4%27.6%30.9%35.0%35.8%
Net income$627.0Md$1.7B$1.4B$3.2B$1.3Bd$1.8B$2.4B$3.9B
Diluted EPS—$3.20$2.65$5.93—$3.34$4.37$7.08
Operating cash flow$4.8Bd$1.4B$2.3Bd$4.7Bd$1.6Bd$2.2B$4.0Bd$4.2Bd
Capital expenditure$371.0Md$411.0M$369.0Md$436.0Md$642.0Md$712.0M$513.0Md$587.0Md
Free cash flow$4.4B$980.0M$1.9B$4.2B$961.0M$1.5B$3.5B$3.7B
R&D expense$1.7Bd$1.5B$1.7B$1.9B$2.1Bd$1.7B$1.9B$2.1B

From XBRL data in 10-Q and 10-K filings. d derived: a fourth quarter is the full year minus the first nine months, and cash flows are year-to-date figures differenced.

10-Q and 10-K filings