Amgen (AMGN) Q3 Earnings Preview: What You Should Know Beyond the Headline Estimates

Analysts on Wall Street project that Amgen (AMGN) will announce quarterly earnings of $5.00 per share in its forthcoming report, representing a decline of 10.4% year over year. Revenues are projected to reach $8.94 billion, increasing 5.2% from the same quarter last year.Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 0.9% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.Given this perspective, it's time to examine the average forecasts of specific Amgen metrics that are routinely monitored and predicted by Wall Street analysts.The average prediction of analysts places 'Revenue- Other revenues' at $373.34 million. The estimate suggests a change of +6.1% year over year.Based on the collective assessment of analysts, 'Revenue- Product sales' should arrive at $8.55 billion. The estimate indicates a change of +4.8% from the prior-year quarter.The consensus estimate for 'Product Sales- BLINCYTO- Total' stands at $412.70 million. The estimate points to a change of +26.2% from the year-ago quarter.Analysts' assessment points toward 'Product Sales- Otezla- Total' reaching $582.08 million. The estimate suggests a change of +3.2% year over year.The consensus among analysts is that 'Product Sales- Neulasta- U.S.' will reach $60.90 million. The estimate suggests a change of -27.5% year over year.Analysts forecast 'Product Sales- Neulasta- ROW' to reach $19.55 million. The estimate points to a change of -24.8% from the year-ago quarter.The combined assessment of analysts suggests that 'Product Sales- Repatha- U.S.' will likely reach $367.86 million. The estimate indicates a change of +30.9% from the prior-year quarter.Analysts expect 'Product Sales- Repatha- ROW' to come in at $349.73 million. The estimate indicates a year-over-year change of +22.3%.According to the collective judgment of analysts, 'Product Sales- KYPROLIS- ROW' should come in at $136.24 million. The estimate indicates a change of -2.7% from the prior-year quarter.Analysts predict that the 'Product Sales- BLINCYTO- U.S.' will reach $298.45 million. The estimate indicates a change of +25.9% from the prior-year quarter.It is projected by analysts that the 'Product Sales- BLINCYTO- ROW' will reach $117.64 million. The estimate suggests a change of +30.7% year over year.The collective assessment of analysts points to an estimated 'Product Sales- KYPROLIS- U.S.' of $234.26 million. The estimate suggests a change of -1.6% year over year. View all Key Company Metrics for Amgen here>>> Shares of Amgen have demonstrated returns of -2.3% over the past month compared to the Zacks S&P 500 composite's +3.6% change. With a Zacks Rank #3 (Hold), AMGN is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .Zacks' Research Chief Picks Stock Most Likely to "At Least Double"Our experts have revealed their Top 5 recommendations with money-doubling potential – and Director of Research Sheraz Mian believes one is superior to the others. Of course, all our picks aren’t winners but this one could far surpass earlier recommendations like Hims & Hers Health, which shot up +209%.See Our Top Stock to Double (Plus 4 Runners Up) >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Amgen Inc. (AMGN): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks