Filing Flows › Amgen (AMGN) › Guidance history
Amgen (AMGN) guidance history: what it guided and what it reported
Amgen gave guidance in 12 earnings releases on file since Feb 6, 2024. Of 5 guided periods since reported, it met or beat its own guidance 4 times (80%). Revenue: 2 of 2, on average +0.8% against the guided midpoint. Its releases raised guidance once and lowered it 0 times.
Revenue
Met or beat 2 of 2 periods (1 above, 1 within, 0 below).
| Period | Guided (and how it moved) | Reported | Result | vs midpoint |
|---|---|---|---|---|
| FY2026 | $37.1B–$38.5B (Apr 30, 2026) → raised $38.2B–$39.4B (Aug 4, 2026) → raised $38.9B–$39.7B (Nov 3, 2026) | — | to be reported | — |
| FY2025 | $34.3B–$35.7B (Feb 4, 2025) → reaffirmed $34.3B–$35.7B (May 1, 2025) → raised $35.0B–$36.0B (Aug 5, 2025) → raised $35.8B–$36.6B (Nov 4, 2025) | $36.8B | above the range | +1.5% |
| FY2024 | $32.4B–$33.8B (Feb 6, 2024) → reaffirmed $32.5B–$33.8B (May 2, 2024) → raised $32.8B–$33.8B (Aug 6, 2024) → raised $33.0B–$33.8B (Oct 30, 2024) | $33.4B | within the range | +0.1% |
GAAP operating margin
Met or beat 1 of 1 periods (1 above, 0 within, 0 below).
| Period | Guided (and how it moved) | Reported | Result | vs midpoint |
|---|---|---|---|---|
| FY2026 | 3.1% (Feb 3, 2026) | — | to be reported | — |
| FY2025 | 6.6% (Feb 4, 2025) | 24.7% | above the range | +18.1 pts |
Adjusted operating margin
The guide is on an adjusted basis that the GAAP statements do not show, so there is no reported figure to hold it to.
| Period | Guided (and how it moved) | Reported | Result | vs midpoint |
|---|---|---|---|---|
| FY2026 | 0.8% (Feb 3, 2026) | — | to be reported | — |
| FY2025 | 2.9% (Feb 4, 2025) | — | — | — |
| FY2024 | 1.7% (Feb 6, 2024) | — | — | — |
GAAP tax rate
Met or beat 1 of 2 periods (1 above, 0 within, 1 below).
| Period | Guided (and how it moved) | Reported | Result | vs midpoint |
|---|---|---|---|---|
| FY2026 | 15.5%–17.0% (Feb 3, 2026) → lowered 14.5%–16.0% (Apr 30, 2026) → reaffirmed 14.5%–16.0% (Aug 4, 2026) → reaffirmed 14.5%–16.0% (Nov 3, 2026) | — | to be reported | — |
| FY2025 | 11.0%–12.5% (Feb 4, 2025) → reaffirmed 11.0%–12.5% (May 1, 2025) → reaffirmed 11.0%–12.5% (Aug 5, 2025) → raised 14.5%–16.0% (Nov 4, 2025) | 14.1% | below the range | -1.2 pts |
| FY2024 | 11.5%–13.0% (Feb 6, 2024) → lowered 9.5%–11.0% (May 2, 2024) → lowered 6.0%–7.5% (Aug 6, 2024) → raised 9.0%–10.5% (Oct 30, 2024) | 11.3% | above the range | +1.5 pts |
Adjusted tax rate
The guide is on an adjusted basis that the GAAP statements do not show, so there is no reported figure to hold it to.
| Period | Guided (and how it moved) | Reported | Result | vs midpoint |
|---|---|---|---|---|
| FY2026 | 16.0%–17.5% (Feb 3, 2026) → lowered 15.0%–16.5% (Apr 30, 2026) → reaffirmed 15.0%–16.5% (Aug 4, 2026) → reaffirmed 15.0%–16.5% (Nov 3, 2026) | — | to be reported | — |
| FY2025 | 15.0%–16.0% (Feb 4, 2025) → lowered 14.5%–16.0% (May 1, 2025) → reaffirmed 14.5%–16.0% (Aug 5, 2025) → raised 15.0%–16.5% (Nov 4, 2025) | — | — | — |
| FY2024 | 16.0%–17.0% (Feb 6, 2024) → lowered 15.0%–16.0% (May 2, 2024) → reaffirmed 15.0%–16.0% (Aug 6, 2024) → lowered 14.0%–15.0% (Oct 30, 2024) | — | — | — |
GAAP EPS
This line is not in the statements Filing Flows reads, so there is no reported figure to hold it to.
| Period | Guided (and how it moved) | Reported | Result | vs midpoint |
|---|---|---|---|---|
| FY2026 | $15.45–$16.94 (Feb 3, 2026) → raised $15.62–$17.10 (Apr 30, 2026) → raised $15.80–$17.08 (Aug 4, 2026) → raised $18.34–$19.28 (Nov 3, 2026) | — | to be reported | — |
| FY2025 | $10.89–$12.14 (Feb 4, 2025) → raised $12.21–$13.46 (May 1, 2025) → lowered $10.97–$12.11 (Aug 5, 2025) → raised $13.76–$14.60 (Nov 4, 2025) | — | — | — |
| FY2024 | $8.42–$9.87 (Feb 6, 2024) → lowered $7.15–$8.40 (May 2, 2024) → lowered $6.57–$7.62 (Aug 6, 2024) → raised $8.71–$9.56 (Oct 30, 2024) | — | — | — |
The latest quarter
Amgen, Q3 2026: revenue $10.4B (+8% year over year), operating margin 35.8%, net earnings $3.9B, operating cash flow $4.2B. The chart follows the revenue to costs, profit and cash.
Questions
Does Amgen beat its guidance?
Amgen gave guidance in 12 earnings releases on file since Feb 6, 2024. Of 5 guided periods since reported, it met or beat its own guidance 4 times (80%). Revenue: 2 of 2, on average +0.8% against the guided midpoint.
How often does Amgen raise guidance?
Its earnings releases raised guidance once and lowered it 0 times since Feb 6, 2024.
Each guided period is held to the last guidance given before its figures were reported; a single figure counts as in line within 1% (0.25 pts for a rate). Reported figures are GAAP, from the company's filings; adjusted guidance shows its moves only.