![]() ![]() ![]() The guidance for fiscal 2023 was also seen as reason for disappointment. Although many see the results as rather underwhelming, we also must acknowledge that Amgen is reporting high growth rates for operating income as well as the bottom line. And diluted earnings per share increased from $10.28 in the previous year to $12.11 in fiscal 2022 - resulting in 17.8% YoY growth.Īnd adjusted earnings per share increased even 27.0% from $13.92 in fiscal 2021 to $17.69 in fiscal 2022. But while the top line grew only slightly, operating income increased 25.2% year-over-year from $7,639 million in fiscal 2021 to $9,566 million in fiscal 2022. Product sales increased from $24,297 million in fiscal 2021 to $24,801 million in fiscal 2022 and total revenue increased 1.3% year-over-year from $25,979 million in the previous year to $26,323 million in fiscal 2022. Annual Results and GuidanceĪnnual results for fiscal 2022 were not great as top line growth slowed down, but they also were not terrible either. Let's take another look at the business and stock price to determine if Amgen is still a buy. ![]() In the last few months, AMGN stock declined about 22% from the previous high as investors obviously seem to have similar doubts about the merger. And I would still see it this way and consider Amgen a good investment if it wasn't for the acquisition of Horizon Therapeutics ( NASDAQ: HZNP ) and the resulting huge debt levels Amgen will have after the acquisition. You’ll receive a US$30 Amazon Gift card for 1 hour of your time while helping us build better investing tools for the individual investors like yourself.In my last article I called Amgen ( NASDAQ: AMGN) a good pick for the next recession as the business can be seen as rather recession-resilient. Simply Wall St has no position in any stocks mentioned. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. We aim to bring you long-term focused analysis driven by fundamental data. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. This article by Simply Wall St is general in nature. Alternatively, email editorial-team (at). ![]() Have feedback on this article? Concerned about the content? Get in touch with us directly. We've done some analysis and you can see our take on Horizon Therapeutics' balance sheet. While earnings are important, another area to consider is the balance sheet. The company's shares are up 25% from a week ago. Performance of the American Biotechs industry. on average during the next 3 years, compared to a 14% growth forecast for the Biotechs industry in the US. Looking ahead, revenue is forecast to grow 10% p.a. Earnings per share (EPS) also surpassed analyst estimates by 3.0%. Revenue exceeded analyst estimates by 4.2%. Horizon Therapeutics Revenues and Earnings Beat Expectations ![]()
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