Amgen 2025 Q1 Earnings Strong Performance as Net Income Surges 1631%

Amgen (AMGN), ranking 79th by market capitalization reported its fiscal 2025 Q1 earnings on May 02nd, 2025. amgen exceeded expectations with fiscal 2025 Q1 earnings, boasting a notable recovery in profitability. The company reported an impressive net income surge of 1631% to $1.73 billion from a net loss the previous year. For 2025, Amgen anticipates total revenues between $34.3 billion and $35.7 billion, in line with expectations. Adjusted earnings per share are projected between $20.00 and $21.20, slightly above consensus. This guidance highlights Amgen's confidence in continued growth.

Revenue

Total revenue for Amgen rose by 10.6% to reach $8.15 billion in 2025 Q1, compared to $7.12 billion in the same quarter last year. Product sales contributed significantly, totaling $7.87 billion. In addition, other revenue streams brought in $276 million, further boosting the overall revenue figures.

Earnings/Net Income

Amgen returned to profitability, achieving an impressive earnings per share (EPS) of $3.22 in 2025 Q1, a significant rebound from a loss of $0.21 per share in 2024 Q1. Net income saw a remarkable swing to $1.73 billion from a $113 million loss the previous year. This performance indicates strong earnings recovery.

Post-Earnings Price Action Review

Over the five-year period from May 2, 2020, to May 2, 2025, Amgen's stock price exhibited moderately positive short-term movements following earnings reports, focusing on revenue, net income, and EPS metrics. The 3-Day win rate for revenue-related events was 50.36%, while both the 10-Day and 30-Day win rates stood at 51.31% and 51.47%, respectively, with a maximum return of 2.27% over 30 days. Net income-focused events showed similar trends, although the 3-Day data was unavailable. The 10-Day and 30-Day win rates matched the revenue metrics, with a maximum 30-Day return of 1.07%. EPS-related events mirrored these patterns, with a 3-Day win rate of 50.36% and a 30-Day high return of 2.27%. Overall, Amgen's earnings metrics positively impacted its stock price in the short term, as evidenced by the win rates and returns from the backtested data.

CEO Commentary

"Demand for our products was strong globally in the first quarter. Ongoing new product launches and successful Phase 3 trial results for several products make us feel confident in our long-term growth prospects," said Robert A. Bradway, chairman and chief executive officer. Amgen experienced a 9% increase in total revenues, reaching $8.1 billion, with product sales growing by 11%. The company highlighted significant sales growth in key products such as Repatha® and EVENITY®, alongside the successful launch of IMDELLTRA®, which generated $81 million in sales. Despite challenges like a 6% decrease in net selling prices, the overall business performance remains robust, driven by volume growth and a diversified product portfolio.

Guidance

For the full year 2025, Amgen expects total revenues in the range of $34.3 billion to $35.7 billion. The company guides GAAP EPS between $12.21 and $13.46 and non-GAAP EPS between $20.00 and $21.20. Additionally, the capital expenditures are projected to be approximately $2.3 billion, with share repurchases not exceeding $500 million. This guidance reflects the estimated impact of implemented tariffs but does not account for potential future tariffs.

Additional News

Amgen announced a significant $900 million expansion of its Ohio manufacturing facility, a move that will create 350 new jobs, bringing total employment there to 750 positions. This investment is part of Amgen's broader U.S. manufacturing strategy, enhancing its global biomanufacturing network. The company has also declared a quarterly dividend for Q2 2025 of $2.38 per share, reflecting a 6% increase. In regulatory developments, Amgen received FDA approval for UPLIZNA as the first treatment for Immunoglobulin G4-related disease, marking a significant milestone in treating this chronic condition. These strategic developments underscore Amgen's commitment to innovation and growth.