Equity Profile

AMGN

Amgen Inc.

Health CareBiotechnology$188.7B

Aug4Tue

Pre-Earnings Brief

UpcomingQ2-2026After Close5:00 PM EDT

Company Snapshot

Amgen Inc. is a biotechnology company that develops and manufactures innovative therapies for serious illnesses....

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a critical measure of profitability and will indicate how well Amgen is managing its costs and revenue.

N/A

Revenue Growth

Revenue growth reflects the company's ability to expand its market share and introduce new products, which is crucial for investor confidence.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

AMGN Q2-2026 Earnings Preview

Context

Company Snapshot

Amgen Inc. is a biotechnology company that develops and manufactures innovative therapies for serious illnesses. Operating in the health care sector, Amgen focuses on areas like oncology, cardiovascular disease, and inflammation, making it a key player in the biotechnology industry.

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

100%

Avg EPS Surprise

+10.24%

Avg Stock Reaction

-0.15%

Last Quarter Recap

In Q1-2026, Amgen reported an EPS of $5.15, surpassing estimates by 8.88%. The stock reacted positively, gaining 2.43% the following day.

Management Promises & Guidance

Expectations

Wall Street Expectations

Overall, expectations for Amgen's upcoming earnings are mixed, with a history of beating EPS estimates but uncertainty around revenue growth.

Bull Case

If Amgen continues its trend of beating EPS estimates, it could signal strong operational efficiency and investor confidence, potentially driving the stock higher.

Bear Case

Conversely, if revenue growth is disappointing or if there are setbacks in its drug pipeline, it could lead to a negative market reaction.

Expectations

Two Questions That Matter

The print will turn on these two things.

What is the expected revenue growth for the upcoming quarter?

Revenue growth is crucial for assessing the company's ability to expand and sustain its market position.

Are there any updates on the drug pipeline or regulatory approvals?

Pipeline updates can significantly influence future revenue and investor sentiment.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating the potential for Amgen's new drug approvals, which could drive significant revenue growth this quarter.

Supporting Evidence

Amgen has a strong track record of beating EPS estimates, which could indicate better-than-expected performance.

The options market is pricing a larger move than historical averages, suggesting heightened expectations.

Recent insider buying could signal confidence in upcoming performance.

Key Risk

If revenue growth comes in below 5%, it could challenge the optimistic outlook.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter, the focus is on whether Amgen can maintain its growth trajectory amid increasing competition in the biotechnology sector.

Bull Confirmed If

A revenue growth rate of over 10% would confirm strong demand for Amgen's products.

Bear Confirmed If

Any revenue growth below 5% would raise concerns about market competitiveness and product demand.

Pre-Earnings Positioning

Options Market

Implied Move

±3.48%

Historical Avg

±1.1%

Pricing rich

The options market is pricing in a move of approximately 3.48%, suggesting that traders expect some volatility around the earnings announcement.

Options are pricing ±3.5% while AMGN has averaged ±1.1% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.3%

30d HV

24.6%

Calls (248K)P/C Ratio: 0.58Puts (419K)

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter beat + options rich in Health Care

n=30

Fade rate: 13 of 29 (45%)

This setup has occurred 30 times across Health Care in the last 2 years. 13 of 29 faded and 16 held — no strong directional bias after the initial reaction. The average absolute 1-day move is 5.5%, with a raw directional average of +2.9% (modestly positive historical bias).

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Amgen beats expectations and raises guidance, history suggests a potential average one-day move of +2.43%, confirming strong operational performance.

In-Line / Cautious

If results are in line with expectations but management provides cautious commentary, the stock may experience muted movement as investors reassess future growth.

Miss

If Amgen misses expectations, history suggests a potential average one-day move of -2.45%, indicating a negative market reaction.

Preparation

Congressional Activity

House & Senate STOCK Act disclosures over the trailing 6 months.

Trades

2 buys·2 sells

Members

House only

Est. Notional

$18,004.00–$95,000.00

disclosed dollar ranges

Most Active Members

R-OHDavid J. TaylorRep.
3

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on the status of key drug approvals.
2Management's outlook on revenue growth for the upcoming quarters.
3Insights into competitive pressures in the biotechnology market.
4Details on cost management and operational efficiency.
5Any commentary on market demand for existing products.

See the full picture

AI-powered briefs, options data, and 20 quarters of history — everything you need before earnings.

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Company Snapshot

Amgen Inc. is a biotechnology company that develops and manufactures innovative therapies for serious illnesses....

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a critical measure of profitability and will indicate how well Amgen is managing its costs and revenue.

N/A

Revenue Growth

Revenue growth reflects the company's ability to expand its market share and introduce new products, which is crucial for investor confidence.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

AMGN Q2-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

100%

Avg EPS Surprise

+10.24%

Avg Stock Reaction

-0.15%

Last Quarter Recap

In Q1-2026, Amgen reported an EPS of $5.15, surpassing estimates by 8.88%. The stock reacted positively, gaining 2.43% the following day.

Management Promises & Guidance

Expectations

Wall Street Expectations

Overall, expectations for Amgen's upcoming earnings are mixed, with a history of beating EPS estimates but uncertainty around revenue growth.

Bull Case

If Amgen continues its trend of beating EPS estimates, it could signal strong operational efficiency and investor confidence, potentially driving the stock higher.

Bear Case

Conversely, if revenue growth is disappointing or if there are setbacks in its drug pipeline, it could lead to a negative market reaction.

Expectations

Two Questions That Matter

The print will turn on these two things.

What is the expected revenue growth for the upcoming quarter?

Revenue growth is crucial for assessing the company's ability to expand and sustain its market position.

Are there any updates on the drug pipeline or regulatory approvals?

Pipeline updates can significantly influence future revenue and investor sentiment.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating the potential for Amgen's new drug approvals, which could drive significant revenue growth this quarter.

Supporting Evidence

Amgen has a strong track record of beating EPS estimates, which could indicate better-than-expected performance.

The options market is pricing a larger move than historical averages, suggesting heightened expectations.

Recent insider buying could signal confidence in upcoming performance.

Key Risk

If revenue growth comes in below 5%, it could challenge the optimistic outlook.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter, the focus is on whether Amgen can maintain its growth trajectory amid increasing competition in the biotechnology sector.

Bull Confirmed If

A revenue growth rate of over 10% would confirm strong demand for Amgen's products.

Bear Confirmed If

Any revenue growth below 5% would raise concerns about market competitiveness and product demand.

Pre-Earnings Positioning

Options Market

Implied Move

±3.48%

Historical Avg

±1.1%

Pricing rich

The options market is pricing in a move of approximately 3.48%, suggesting that traders expect some volatility around the earnings announcement.

Options are pricing ±3.5% while AMGN has averaged ±1.1% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.3%

30d HV

24.6%

Calls (248K)P/C Ratio: 0.58Puts (419K)

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter beat + options rich in Health Care

n=30

Fade rate: 13 of 29 (45%)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Amgen beats expectations and raises guidance, history suggests a potential average one-day move of +2.43%, confirming strong operational performance.

In-Line / Cautious

If results are in line with expectations but management provides cautious commentary, the stock may experience muted movement as investors reassess future growth.

Miss

If Amgen misses expectations, history suggests a potential average one-day move of -2.45%, indicating a negative market reaction.

Preparation

Congressional Activity

House & Senate STOCK Act disclosures over the trailing 6 months.

Trades

2 buys·2 sells

Members

House only

Est. Notional

$18,004.00–$95,000.00

disclosed dollar ranges

Most Active Members

R-OHDavid J. TaylorRep.
3

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on the status of key drug approvals.
2Management's outlook on revenue growth for the upcoming quarters.
3Insights into competitive pressures in the biotechnology market.
4Details on cost management and operational efficiency.
5Any commentary on market demand for existing products.