8-KEarnings & ResultsExhibits & Filings

AMGEN INC 8-K Report, Financial Results (Aug 3, 2023)

Filed August 3, 2023For Securities:AMGN

Summary

Amgen Inc. (AMGN) filed an 8-K on August 3, 2023, to furnish its second-quarter 2023 earnings press release. The release details the company's financial results for the period ending June 30, 2023, and provides a reconciliation of non-GAAP financial measures. Investors should note that Amgen emphasizes its use of non-GAAP figures to provide a clearer view of its ongoing business performance and liquidity, excluding items like acquisition-related expenses, restructuring costs, and certain investment/divestiture impacts. The company also presented adjusted figures for total revenues and product sales, accounting for foreign exchange impacts, to offer a better understanding of underlying sales trends. Free Cash Flow (FCF) is also highlighted as a key liquidity metric. While these non-GAAP measures are presented to supplement GAAP reporting and aid in comparative analysis, investors are reminded that they are not a substitute for GAAP measures and are not deemed 'filed' under Section 18 of the Exchange Act.

Key Highlights

  • 1Amgen announced its second-quarter 2023 financial results via an 8-K filing on August 3, 2023.
  • 2The company is furnishing its earnings press release, which includes a detailed reconciliation of non-GAAP financial measures to GAAP.
  • 3Key non-GAAP measures discussed include earnings per share, operating income, net income, and operating expenses.
  • 4Amgen provides adjusted total revenues and product sales to exclude foreign exchange impacts, offering insight into underlying sales performance.
  • 5Free Cash Flow (FCF) is presented as a key liquidity metric.
  • 6The press release explains that non-GAAP measures are used internally for performance evaluation and resource allocation.
  • 7Information in this 8-K, including the press release, is furnished and not deemed 'filed' for purposes of Section 18 of the Securities Exchange Act of 1934.

Frequently Asked Questions

The primary purpose of this 8-K filing is to officially announce and provide the details of Amgen Inc.'s second-quarter 2023 financial results, as presented in their earnings press release.

Amgen presents non-GAAP financial measures to provide investors with supplementary information that enhances their understanding of the company's ongoing business performance and prospects. These measures are intended to facilitate comparisons of results across periods by excluding items that may not be representative of core operations, such as acquisition-related expenses, restructuring costs, and certain investment/divestiture impacts.

Free Cash Flow (FCF) is calculated by subtracting capital expenditures from operating cash flow, both determined in accordance with GAAP. Amgen highlights FCF as a key metric to provide investors with an additional measure of the company's liquidity.

Yes, the filing furnishes the earnings press release which contains Amgen's unaudited results of operations for the three and six months ended June 30, 2023, and its unaudited financial position as of June 30, 2023. However, investors should refer to the press release itself for the specific numbers and note that these are unaudited figures.