Categories AlphaGraphs, Earnings, Other Industries

Eli Lilly tops market estimates; revises guidance

Eli Lilly and Company (LLY) reported better-than-expected results on revenue and earnings for the third quarter of 2018 and revised its guidance for full-year 2018. The stock was up over 1.6% in premarket hours on Tuesday.

Eli Lilly third quarter 2018 Earnings Infographic
Eli Lilly Q3 2018 Earnings Infographic

Worldwide revenues grew 7% to $6.06 billion, led by higher volumes and increased demand for new products such as Trulicity, Basaglar and Verzenio. Revenues increased 11% in the US and 2% internationally. The revenue increases were partially offset by lower realized prices, volume declines for products that lost exclusivity and negative impacts from foreign exchange rates.

Reported net income grew to $1.14 billion or $1.12 per share from $555.6 million or $0.53 per share in the same period last year, driven by higher operating income. On an adjusted basis, net income rose 29% to $1.42 billion and EPS grew 32% to $1.39 versus last year, driven by higher operating income.

During the quarter, Eli Lilly posted worldwide revenue decreases for products such as Humalog, Cialis and Forteo while products like Alimta and Humulin recorded revenue increases. The revenue trends were affected by various factors such as pricing, demand, volume, segment mix and foreign exchange rates.

The company reported revenues increases across all its new products such as Trulicity, Taltz, Cyramza, Basaglar, Jardiance, Lartruvo, Verzenio and Olumiant, primarily driven by increased demand.

Eli Lilly beats Q2 estimates; stock surges

Worldwide animal health revenue increased 4%, driven by higher prices and higher volume, partially offset by the negative impact of foreign exchange rates.

Eli Lilly revised certain elements of its outlook for the full year of 2018. Revenues are now expected to come in the range of $24.3 billion to $24.5 billion versus the prior range of $24 billion to $24.5 billion. The increase in the low end of the revenue range from the prior guidance is due to strong performance across the pharmaceutical portfolio, particularly in diabetes.

Reported EPS is now expected to come between $3.04 and $3.09 versus the previous range of $3.19 to $3.29. Adjusted EPS is expected to come in the range of $5.55 to $5.60 versus the earlier range of $5.40 to $5.50.

 

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

Most Popular

Trxade will focus more on core biz, connect with POS systems: CEO Suren Ajjarapu

Trxade Health Inc. (NASDAQ: MEDS) has been on a mission to digitalize the retail pharmacy experience by providing a platform for independent pharmacies to operate efficiently. While expanding its customer

TTWO Earnings: Take-Two Interactive slips to a loss in Q1; revenue up 36%

Gaming company Take-Two Interactive Software, Inc. (NASDAQ: TTWO) announced first-quarter 2023 results Monday after the closing bell, reporting a 36% revenue growth. First-quarter revenues rose 36% annually to $1.1 billion

Tyson Foods (TSN): Strong demand for beef and price hikes in chicken fuel Q3 top line growth

Shares of Tyson Foods Inc. (NYSE: TSN) plunged 9% on Monday after the company delivered mixed results for the third quarter of 2022. Revenues beat estimates while profits missed expectations.

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