Fri, May 2, 10:08 AM (11 days ago)
**Amgen Inc. (AMGN) Q1 2025 Financial Summary** **Financial Health & Performance:** - **Revenue:** $8.15 billion, up 9% YoY, driven by 11% product sales growth. - **Net Income:** $1.73 billion, a significant recovery from a loss of $113 million in Q1 2024. - **EPS:** $3.20, up from a loss of $0.21 in Q1 2024. - **Operating Income:** $1.18 billion, up 19% YoY. - **Cash Flow:** $1.39 billion from operations, up from $689 million in Q1 2024. **Profit Margins:** - **Operating Margin:** 14.5%, improved from 13.6% in Q1 2024. - **Net Margin:** 21.2%, a significant improvement from -1.5% in Q1 2024. **Cash Flow:** - **Operating Cash Flow:** $1.39 billion, up from $689 million in Q1 2024. - **Investing Cash Flow:** -$447 million, primarily due to capital expenditures. - **Financing Cash Flow:** -$4.11 billion, mainly due to debt repayments and dividends. **Earnings Changes:** - **Revenue Growth:** 9% YoY, driven by product sales. - **Net Income Growth:** Significant recovery from a loss in Q1 2024. **Quarterly Performance:** - **Product Sales:** $7.87 billion, up 11% YoY. - **Other Revenues:** $276 million, down 16% YoY. **Trends & Uncertainties:** - **Product Sales Growth:** Driven by volume growth in key brands. - **Pricing Pressures:** Net selling price declines partially offset volume growth. - **Macroeconomic Uncertainties:** Tariffs, trade protection measures, and geopolitical conflicts may impact future operations. - **Regulatory Uncertainties:** Ongoing tax disputes and potential changes in healthcare regulations. **Future Operations Impact:** - **Debt Repayments:** $2.5 billion in Q1 2025. - **Dividends:** $1.3 billion paid in Q1 2025. - **Stock Repurchases:** No activity in Q1 2025, $6.8 billion authorization remaining. **Key Products:** - **Prolia, Repatha, XGEVA:** Strong volume growth. - **EVENITY, Otezla:** Mixed performance due to pricing and inventory changes. - **BLINCYTO:** Significant volume growth. **Risks:** - **Pricing and Reimbursement:** Government and commercial payer actions may affect sales. - **Regulatory:** Ongoing tax disputes and potential changes in healthcare regulations. - **Economic:** Tariffs, trade protection measures, and geopolitical conflicts may impact future operations. **Outlook:** - **Volume Growth:** Expected to continue, partially offset by net selling price declines. - **Operating Expenses:** Increased due to intangible asset impairment charges. - **Cash Flow:** Expected to continue as the primary source of funds.