— Eli Lilly and Company (NYSE: LLY) reported its fourth-quarter 2019 adjusted earnings of $1.73 per share versus $1.52 per share expected.
— Revenue increased by 8% to $6.11 billion versus $5.91 billion expected. This was driven by a 10% rise in the volume that partially offset a 1% decline in realized prices.
— Revenue in the US increased by 7% as higher volume partially offset lower realized prices.
— Revenue outside the US grew by 10% driven by higher volume which was primarily from key growth products like Trulicity, Jardiance, and Taltz.
— During the quarter, Eli Lilly saw double-digit growth in revenues from Trulicity, Taltz, Basaglar, Cyramza, Olumiant, and Jardiance. Cialis posted the highest decline in revenues of 44%.
— Gross margin declined by 1 percentage point to 79% due to unfavorable product mix, the unfavorable effect of foreign exchange rates on international inventories sold, higher intangibles amortization expense, and the impact of lower realized prices on revenue.
— Looking ahead into the full year 2020, the company lowered earnings guidance to the range of $6.18-6.28 per share from the previous range of $6.38-6.48 per share. The adjusted EPS guidance is reaffirmed in the range of $6.70-6.80. Analysts expect EPS of $6.76.
— Revenue outlook is lifted to the range of $23.7-24.2 billion from previous range of $23.6-24.1 billion. The consensus estimates revenue of $23.82 billion for the full year.
Micron Technology Inc. (NASDAQ: MU) reported third quarter 2022 earnings results today. Revenue increased 16% year-over-year to $8.64 billion. GAAP net income was $2.63 billion, or $2.34 per share, compared
Shares of Constellation Brands Inc. (NYSE: STZ) were down 4% on Thursday despite the company beating expectations on its first quarter 2023 earnings results. The stock has dropped 7% year-to-date.
Constellation Brands, Inc. (NYSE: STZ) reported first quarter 2023 earnings results today. Net sales increased 17% year-over-year to $2.3 billion. Net income attributable to CBI was $390 million, or $2.06