Categories AlphaGraphs, Earnings, Health Care

Eli Lilly’s stock down after Q1 revenues miss forecasts

Eli Lilly and Company (NYSE: LLY) surpassed analysts’ expectations on earnings for the first quarter of 2019 while revenues fell short of estimates. Shares were down 3.4% in morning hours on Tuesday.

Worldwide revenue increased 3% year-over-year to $5 billion, helped by a 7% increase in volume.

Eli Lilly reports Q1 2019 earnings results

Net income improved to $4.2 billion, or $4.31 per share, compared to $1.2 billion, or $1.16 per share in the year-ago quarter, helped by a gain recognized on the disposition of Elanco Animal Health. Adjusted net income fell 4% to $1.2 billion while adjusted EPS rose 2% to $1.33.

Revenue in the US grew 3% year-over-year to $2.8 billion, driven by a volume increase of 6%. Revenue outside the US rose 2% to $2.2 billion, helped by a volume growth of 9%. Volume growth, both in the US and internationally, were driven by key products like Trulicity and Taltz.

Products such as Trulicity, Taltz, Basaglar and Jardiance posted double-digit revenue growth during the quarter helped by higher demand and volume growth. Products like Cialis, Humalog and Humulin posted sales declines hurt by factors like generic competition and foreign exchange rate fluctuations.

Eli Lilly updated its guidance to reflect the disposition of the Elanco Animal Health business. For the full year of 2019, the company lowered its revenue outlook to a range of between $22 billion and $22.5 billion. The company increased its earnings guidance and now expects GAAP EPS to be $8.57-8.67 and adjusted EPS to be $5.60-5.70.

 

Get access to timely and accurate verbatim transcripts that are published within hours of the event.

Most Popular

AVGO Earnings: Broadcom Q2 2024 revenue and profit beat estimates

Semiconductor company Broadcom, Inc. (NASDAQ: AVGO) on Wednesday reported higher second-quarter revenues and adjusted earnings. The results also topped analysts' expectations. Earnings, excluding non-recurring items, came in at $10.96 per

Key takeaways from Oracle’s (ORCL) Q4 2024 earnings report

Oracle Corporation’s (NYSE: ORCL) stock rallied this week after the company announced large cloud infrastructure deals with tech giants Google, OpenAI, and Microsoft. The demand for Oracle's generative AI infrastructure

ZDGE Earnings: Zedge reports higher revenues and adj. profit for Q3 2024

Content distribution platform Zedge, Inc. (NYSE American: ZDGE) has reported higher net income for the third quarter of 2024, on an adjusted basis. The bottom line benefitted from a double-digit

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top