Filing Flows › Amgen (AMGN) › Guidance & outlook
Amgen (AMGN) guidance and outlook
Amgen (AMGN) raised its guidance on Nov 3, 2026: Revenue $38.9B–$39.7B for FY2026; EPS $18.34–$19.28 for FY2026; Tax rate 14.5%–16% for FY2026; EPS $22.90–$23.70 for FY2026. Amgen's 10-Q filed Nov 4, 2026 makes 13 forward-looking statements, 2 of them new and 0 no longer said since the filing before.
Guidance and outlook
Latest guidance
| Metric | Period | Range | Change |
|---|---|---|---|
| Revenue | FY2026 | $38.9B–$39.7B | raised |
| EPS | FY2026 | $18.34–$19.28 | raised |
| Tax rate | FY2026 | 14.5%–16% | reaffirmed |
| EPS | FY2026 | $22.90–$23.70 | raised |
| Capital expenditures | FY2026 | $2.6B | reaffirmed |
| EPS | the year ending Dec 31, 2026 | $18.34–$19.28 | raised |
| Tax rate | the year ending Dec 31, 2026 | 14.5%–16% | reaffirmed |
| Tax rate | the year ending Dec 31, 2026 | 0.5% | reaffirmed |
| Tax rate | FY2026 | 15%–16.5% | reaffirmed |
From the earnings release filed Nov 3, 2026 (8-K on EDGAR).
Forward-looking statements, 10-Q filed Nov 4, 2026
- For the remainder of 2026, we expect volume growth from certain brands to be partially offset by net selling price declines.
- For the remainder of 2026, we expect continued sales erosion driven by increased competition, as multiple biosimilars have launched in the United States and ROW.
- As a result, we expect further declines in net selling price driven by Medicare price setting beginning in 2027.
- Countries have begun to enact, or have announced intentions to enact, the new guidance, and we continue to monitor the potential impact to our 2026 tax rate.
- The Company expects a decision from the U.S.
- new · We disagree with the proposed adjustments and penalties and intend to contest them.
- We intend to continue investing in our business while returning capital to stockholders through the payment of cash dividends and stock repurchases.
- new · In October 2026, our Board of Directors declared a quarterly cash dividend of $2.52 per share, which will be paid in December 2026.
- Our accumulated deficit is not anticipated to affect our future ability to operate, repurchase stock, pay dividends or repay our debt given our expected continued profitability and strong financial position.
- We believe that existing funds, cash generated from operations and existing sources of and access to financing are adequate to satisfy our needs for working capital, capital expenditure and debt service requirements, as well as our plans to pay dividends and repurchase stock, and other business initiatives we plan to strategically pursue, including acquisitions and licensing activities.
- We anticipate that our liquidity needs can be met through a variety of sources, including cash provided by operating activities, borrowings through commercial paper and/or syndicated credit facilities and access to other domestic and foreign debt markets and equity markets.
- Cash provided by operating activities has been and is expected to continue to be our primary recurring source of funds.
Amgen's 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
Did Amgen raise or lower its guidance?
Amgen (AMGN) raised its guidance on Nov 3, 2026: Revenue $38.9B–$39.7B for FY2026; EPS $18.34–$19.28 for FY2026; Tax rate 14.5%–16% for FY2026; EPS $22.90–$23.70 for FY2026.
What does Amgen expect?
We disagree with the proposed adjustments and penalties and intend to contest them. In October 2026, our Board of Directors declared a quarterly cash dividend of $2.52 per share, which will be paid in December 2026.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.