Amgen earnings Q4 2018

on Jan30
by | Comments Off on Amgen earnings Q4 2018 |

A research associate performs a buffer exchange for protein formulation at AMGEN, a drug research and development laboratory.

Ricardo Dearatanha | Los Angeles Times | Getty Images

A research associate performs a buffer exchange for protein formulation at AMGEN, a drug research and development laboratory.

Shares of Amgen fell 3 percent in extended trading after the company issued weak 2019 guidance, which overshadowed its better-than-expected fourth-quarter earnings, after the market close on Tuesday.

The biotech company said it expects adjusted 2019 earnings per share between $13.10 and $14.30. That range is well below Wall Street projections for full-year earnings of $14.61 per share, according to a Refinitiv consensus estimate.

For 2019, Amgen said it expects revenue between $21.8 billion and $22.9 billion. That range is also below Wall Street’s estimate for revenue of $22.91 billion.

Amgen’s 2019 outlook represents a year-over-year decline in both earnings and revenue. For 2018, the company reported adjusted earnings of $14.40 per share on revenue of $23.75 billion.

The biotech company, however, reported fourth-quarter earnings and revenue that topped analyst expectations.

Here’s how the company did compared with what Wall Street expected:

  • Earnings per share: $3.42, vs. $3.27, forecast by Refinitiv
  • Revenue: $6.23 billion, vs. $5.84 billion, forecast by Refinitiv

In the year-ago quarter, Amgen reported adjusted earnings of $2.89 per share on $5.80 billion in revenue.

Amgen’s second-largest drug, Neulasta, posted fourth-quarter sales of $1.17 billion, topping expectations for $1 billion in sales. The company’s largest drug, Enbrel, also posted better-than-expected sales of $1.32 billion, compared with projections of $1.30 billion.

Amgen’s results follow similar news from Pfizer earlier Tuesday, which also posted strong fourth-quarter results but issued weak 2019 guidance.

Shares of Amgen have fallen about 3 percent over the past year.





Previous postLAPD investigates Turkish flags hung at Armenian schools Next postStocks rise as Fed formally pauses interest rate hikes amid economic worries


Los Angeles Financial times


Copyright © 2021 Los Angeles Financial times

Updates via RSS
or Email