AMGN · Earnings call · 2026Q3T · Full report
Guidance and Outlook
AMGEN INC · 2026-11-03 · Importance 75 · Surprise 60 · In source text
Amgen raised its 2026 revenue guidance to $38.9 billion–$39.7 billion and non-GAAP EPS guidance to $22.90–$23.70. The company expects 2026 non-GAAP other expense of $2.0 billion–$2.1 billion and a full-year non-GAAP operating margin of roughly 45%–46% of product sales. Management expects approximately $1.9 billion of other revenue for 2026 and said it does not anticipate a step-down in operating margin in 2027 compared with its 2026 guidance.
Key facts
- Amgen anticipated 2026 non-GAAP other income and expense of $2 billion to $2.1 billion of expense.
- Amgen expected full-year non-GAAP operating margin as a percentage of product sales of roughly 45% to 46%.
- Amgen expected full-year 2026 other revenue of approximately $1.9 billion.
- Amgen raised its 2026 total revenue guidance to $38.9 billion to $39.7 billion and non-GAAP EPS guidance to $22.90 to $23.70.
- Amgen did not anticipate a step-down in operating margin in 2027 compared with its 2026 guidance.
- Amgen said it was conducting MariTide Phase III studies in 2026 with disciplined data generation and would share efficacy and tolerability results when the studies read out.
- Amgen expected results from its second Phase III study in symptomatic Sjogren's disease later in 2026.
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| net_income | negative | committed | — | Amgen anticipated 2026 non-GAAP other income and expense of $2 billion to $2.1 billion of expense. |
| revenue | positive | committed | — | Amgen raised its 2026 total revenue guidance to $38.9 billion to $39.7 billion and non-GAAP EPS guidance to $22.90 to $23.70. |
| net_income | positive | committed | — | Amgen raised its 2026 total revenue guidance to $38.9 billion to $39.7 billion and non-GAAP EPS guidance to $22.90 to $23.70. |