Amgen (NASDAQ:AMGN) is expected to report Q1 earnings Wednesday, April 21 after market close with a conference call scheduled for 5 pm ET.
Analysts are looking for EPS of $1.24 on revenue of $3.65B. The consensus range is $1.12-$1.34 for EPS, and $3.48B-$3.80B for revenue, according to First Call. Amgens's Q1 results could again benefit from improving operating margins and cash flow that support buyback programs. This quarter's revenue may once again be challenged by the safety issues overhanging Aranesp sales and increasing competition from Remicade and Humira on Enbrel sales.
On April 6, J.P. Morgan said that Biotech is positioned for further outperformance and named Amgen as its number two pick.