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

Nike (NKE) swings to profit in Q4 on 96% revenue growth; results beat

Nike, Inc. (NYSE: NKE) reported a profit for the fourth quarter of 2021, compared to a loss last year, as revenues of the sneaker giant surged 96% aided by strong

FDX Earnings: All you need to know about FedEx’s Q4 2021 earnings results

FedEx Corporation (NYSE: FDX) reported fourth quarter 2021 earnings results today. Total revenues increased to $22.6 billion from $17.4 billion in the same period a year ago. The company reported

IPO News: Torrid Holdings is set to go public next week, here’s what to know

The retail industry undergoes various shifts from time to time as the needs and preferences of customers keep on changing. In today’s world, where concepts like female empowerment and body

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