LLY - Eli Lilly beats Q4 estimates on solid demand for weight-loss drug

2024-02-06 07:02:45 ET

Eli Lilly & Co (NYSE: LLY) is trading up in premarket on Tuesday after coming in ahead of Street estimates in its fiscal fourth quarter on a solid launch of Zepbound (weight-loss drug) and higher prices for Mounjaro (diabetes drugs).

Investors are pleased also because the management issued upbeat guidance for the future. The pharmaceutical behemoth now forecasts its revenue to fall between billion and billion in the first quarter on up to a share of adjusted per-share earnings.

Analysts, in comparison, were at billion on a share, respectively. David A. Ricks – the chief executive of Eli Lilly said in a press release today:

Lilly was recently reported in talks with the German government to have its weight-loss drug included in the country’s public health coverage. Lilly stock at about $725 makes it the largest pharma company in the U.S.

Earned $2.19 billion versus the year-ago $1.94 billion

Per-share earnings also climbed from $2.14 to $2.42

Adjusted EPS $2.49 printed at as per the earnings report

Revenue jumped 28% year-over-year to $9.35 billion

Consensus was $2.22 a share on billion in $8.93 revenue

Tirzepatide – the weight loss drug generated for Eli Lilly & Co in Q4. CEO Ricks also said on Tuesday:

This is a developing story. Check back in a few minutes for more updates!

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