On September 17, 2020, the Eli Lilly and Company trademark appeared in an office of the company in San Diego, California.
Mike Black | Reuters
Eli Lilly and Company The company on Thursday beat expectations for second-quarter earnings and revenue and raised its full-year revenue forecast by $3 billion as sales of its blockbuster diabetes drug Mounjaro and weight-loss injection Zepbound soared.
Eli Lilly’s shares rose more than 9% in pre-market trading Thursday.
The drugmaker now expects full-year adjusted earnings per share of $16.10 to $16.60, up from previous guidance of $13.50 to $14 per share.
The company also expects revenue this year to be between $45.4 billion and $46.6 billion, an increase of $3 billion on either end.
The results come nearly a week after the U.S. Food and Drug Administration released all doses of Zepbound and Mounjaro Available after a chronic shortage in the United States. Demand far outstrips supply for these incretin drugs, which mimic hormones produced in the gut that suppress a person’s appetite and regulate blood sugar.
Here’s how Eli Lilly’s second-quarter report compared with Wall Street expectations, according to a survey of analysts by London Stock Exchange Group (LSEG):
- Earnings per share: Adjusted $3.92, expected $2.60
- income: US$11.30 billion, expected US$9.92 billion
The pharmaceutical giant’s second-quarter net profit was $2.97 billion, or $3.28 per share. That compares with profit of $1.76 billion, or $1.95 per share, a year ago.
Excluding one-time items related to the value of intangible assets and other adjustments, Eli Lilly reported second-quarter 2024 earnings of $3.92 per share.
The company reported second-quarter revenue of $11.3 billion, a 36% increase from the same period last year.
Eli Lilly’s shares are up more than 30% this year after rising nearly 60% in 2023, as demand for the company’s weight loss and diabetes drugs soars and investor interest grows in its potential as a treatment for other health conditions. Although they High monthly price taginconsistent insurance coverage and intermittent supply shortages.
Eli Lilly is the largest pharmaceutical company in the United States, with a market value of more than $730 billion
