Amgen Sees FY24 Revenue $32.4B-$33.8B Vs $32.66B Est.; EPS $18.90-$20.30 Vs $20.00 Est.
Portfolio Pulse from Benzinga Newsdesk
Amgen forecasts FY24 revenue to be between $32.4B-$33.8B, slightly above the $32.66B estimate. GAAP EPS is expected to range from $8.42 to $9.87, with non-GAAP EPS between $18.90 to $20.30, against a $20.00 estimate. The company also plans for capital expenditures of about $1.1B and share repurchases up to $500M.
February 06, 2024 | 9:04 pm
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Amgen anticipates FY24 revenues to exceed estimates with a range of $32.4B-$33.8B and non-GAAP EPS of $18.90-$20.30, close to the $20.00 estimate. The company also outlines $1.1B in capital expenditures and a share repurchase program of up to $500M.
The positive revenue forecast exceeding analyst expectations and the commitment to share repurchases are likely to be viewed favorably by investors, potentially leading to a short-term uptick in AMGN's stock price. The EPS guidance being close to estimates suggests stability in earnings, further supporting investor confidence.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100