Eli Lilly and Co | $LLY Stock | Drug Maker Posts Upbeat Q3 Profit and Revenue

Eli Lilly

Eli Lilly and Co (NYSE: LLY)

Eli Lilly reported better than expected third-quarter financial results before markets opened on Tuesday. The Indiana-based company also revised up its adjusted EPS and sales guidance, sending its stock up $2.85, or 2.59% to $112.99 in premarket trade.

The shares have rallied 30% year to date and 32% in the last 12 months.

LLY Earnings & Outlook

The company posted earnings of $1.15 billion, or $1.12 per share, versus $55.6 million, or $0.53 per share, in the comparable period last year. Earnings, adjusted for one-time items, were $1.39, per share.

Net sales came to $6.06 billion, an increase of 7% from $5.66 billion in the same period a year ago. Analysts were expecting adjusted earnings of $1.37 per share on sales of $6.05 billion, according to FactSet data.

Trulicity, the drug maker’s top-selling medicine, generated revenue of $816.2 million for the quarter, up 55% but below estimates of $816.6 million. Humalog revenue came to $664.6 million during the quarter, down 4.5% and short of $707.4 million expectations.

Meanwhile, revenue from the company’s Animal Health segment was $772.7 million, an increase of 4% from a year earlier. However, the segment missed expectations of $760.1 million.

For the full year, Eli Lilly views adjusted earnings in the range of $5.55 to $5.60 per share, compared with its previous forecast of between $5.40 to $5.50 per share.

The company expects sales to come in at between $24.3 billion to $24.5 billion for the year, up from its earlier guidance of $24.0 billion to $24.5 billion.

Eli Lilly CEO Comments

“Lilly delivered strong financial results in the third quarter. Revenue growth driven by greater use of our newest medicines, coupled with prudent expense management, led to strong EPS growth,” commented David A. Ricks, Lilly’s Chairman and Chief Executive Officer.

“Our strategy is to focus on discovering and developing breakthrough medicines that can help doctors and patients who need new treatment options for serious diseases. We are pleased with our progress this quarter, achieving key development and regulatory milestones in pain and diabetes, while driving continued adoption of our new medicines around the world. Consistent with our revised guidance, we expect to finish 2018 by further delivering strong performance.”

Eli Lilly and Co. Profile

Eli Lilly & Co. engages in the discovery, development, manufacture and sale of pharmaceutical products. It operates through two segments: Human Pharmaceutical Products and Animal Health.

The Human Pharmaceutical products segment includes the discovery, development, manufacturing, marketing and sales of human pharmaceutical products worldwide in the following therapeutic areas: neuroscience, endocrinology, oncology, cardiovascular and other.


The Animal health segment operating through the Elanco Animal Health division, develops, manufactures, and markets products for both food and companion animals. The Animal health products include Rumensin, Tylan, Posilac, Paylean and other products for livestock and poultry, as well as Trifexis, Comfortis, and other products for companion animals.

The company was founded by Eli Lilly on May 1876 and is headquartered in Indianapolis, IN. – CNN Money