EarningsQ2 2026 Earnings Report
MX:AMGN Q2 2026 EPS Results
Actual EPS$114.23
Consensus EPS$102.01
Beat/MissBeat by +$12.22
One Year Ago EPS$109.33
MX:AMGN Q2 2026 Revenue Results
Actual Revenue$182.83B
Expected Revenue$171.19B
Beat/MissBeat by +$11.64B
YoY Revenue Growth+9.82%
Earnings Announcement Details
QuarterQ2 2026
Date08/04/2026
TimeAfter Close
Conference CallTuesday, August 4, 2026
MX:AMGN Upcoming Earnings
Amgen's next earnings date is estimated for November 3, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:AMGN Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call reported broad-based commercial strength (10% revenue growth, multiple products with double-digit increases, raised full-year guidance), robust margins (48% non-GAAP operating margin) and strong cash generation, while also flagging expected near-term expense increases, higher cost-of-sales pressure from mix and profit-share, a material decline in the Prolia/XGEVA franchise (–33%), and some pipeline uncertainty/readouts pending. On balance the positive commercial execution, raised guidance and pipeline momentum outweigh the noted headwinds.Company Guidance
Strong Revenue Growth
Total revenues exceeded $10.0 billion in Q2, representing a 10% year-over-year increase; 17 products annualized at more than $1 billion based on Q2 sales and 22 products delivered double-digit sales growth.
Six Key Growth Drivers Performing Well
The company’s 6 key growth drivers grew at an aggregate rate of 26% year-over-year and represented nearly 70% of second-quarter product sales.
Notable Product Growth — Repatha
Repatha sales reached $953 million in Q2, up 37% year-over-year, with new-to-brand prescriptions growing >50% YoY in the U.S.; VESALIUS-CV outcomes data support expanded use.
Robust Growth Across Multiple Brands
Key product year-over-year growth rates include EVENITY +38% ($714M), TEZSPIRE +42% ($486M), Rare Disease portfolio +21% ($1.6B), Innovative Oncology +18% (~$2.0B), and Biosimilars +29% ($855M).
Standout Rapid Growth Assets
High-growth individual products include UPLIZNA +90% ($335M), IMDELLTRA +115% ($288M), PAVBLU +121% ($287M) and BLINCYTO +23% ($472M) with international growth of BLINCYTO +64% outside the U.S.
Strong Profitability and Cash Generation
Non-GAAP operating margin was 48% in the quarter and the company generated $3.5 billion in free cash flow in Q2.
Investment in Innovation While Maintaining Discipline
Non-GAAP R&D spending increased 10% year-over-year in Q2; capital expenditures were $500 million in the quarter with an expected full-year 2026 capex of ~$2.6 billion to support manufacturing scale-up (including MariTide).
Raised Full-Year Guidance
Management raised 2026 guidance: total revenues now expected to be $38.2 billion to $39.4 billion and non-GAAP EPS expected to be $22.30 to $23.50.
Pipeline and Late-Stage Progress
Late-stage pipeline momentum: MariTide (multiple Phase III studies; monthly dosing / potential 4–6 doses/year maintenance), Olpasiran advanced into two Phase III outcome studies after >95% Lp(a) reduction in Phase II (OCEAN(a) enrolled ~7,297 patients), Xaluritamig and other assets advancing; several Phase III readouts and registrational studies planned/ongoing.
MX:AMGN Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed