Amgen is expected to report Q1 2026 revenue of $8.67 billion and adjusted EPS of $4.75, with its current $344.55 share price trading roughly 3.4% below the $356.62 analyst consensus target. The central narrative for this earnings report is the clinical and commercial potential of MariTide, the company's monthly injectable obesity treatment candidate currently entering pivotal development stages.
Revenue growth is largely supported by the integration of the Horizon Therapeutics portfolio and robust volume gains in cardiovascular drugs like Repatha, which help offset biosimilar pressure on legacy products. However, bottom-line earnings are projected to decline slightly year-over-year as the company ramps up research and development spending for its high-stakes metabolic pipeline.