Amgen Is Easily Outshining Its Peers — Here's What Its Earnings Say

Amgen raised its 2026 revenue and profit forecasts after Q3 earnings and revenue surpassed expectations. Revenue is now projected at $38.9B-$39.7B, up from $38B-$39.4B. Non-GAAP EPS is expected to be $22.90-$23.70, compared to the previous range of $22.30-$23.50.

Amgen reported Q3 2026 revenue of $10.4B, up 8% YoY, and adjusted EPS of $6.45, up 14%. Six key growth drivers contributed 70% of product sales, with notable gains in cardiovascular, bone health, and rare disease products. The company raised full-year guidance and increased its dividend by 6%.

Amgen (AMGN) reported Q3 2026 revenue of $10.37B, up 8.5% YoY and 3.1% above estimates. Adjusted EPS of $6.45 beat estimates by 11.6%. Full-year revenue guidance raised to $39.3B, up 1.3%. Operating margin was 45.1%, stable YoY. Shares fell 2.2% post-results.

Amgen Inc. reported Q3 adjusted EPS of $6.45, beating estimates by $0.69, and revenue of $10.4B, up 8% YoY. Shares fell 1.5% due to biosimilar competition impacting Prolia and XGEVA. Amgen raised 2026 revenue guidance to $38.9B-$39.7B, with growth in UPLIZNA, TEZSPIRE, and Repatha. Free cash flow was $3.7B, down from $4.2B YoY.

Amgen (AMGN) stock fell 1.6% in after-hours trading despite beating earnings estimates. Revenue rose 8% to $10.4B, but Prolia and XGEVA sales dropped 45% and 47% respectively due to biosimilar competition. Guidance was in line with expectations, and R&D expenses increased 11%. The broader market was mixed, with midterm elections adding macro uncertainty.

Amgen Inc. (AMGN) reported Q3 net income of $3.86B, or $7.08 per share, exceeding analyst expectations. Revenue was $10.37B, also topping forecasts. The company raised its full-year earnings and revenue guidance. AMGN shares are up 41% YTD and 56% over the past year.