Lilly Delivers 48% Revenue Growth to $23B, Lifts Full-Year Outlook
LLY sits 88% above its 52-week low of $623.78.
Summary
Lilly's Q2 revenue jumped 48% to $23.0B on Mounjaro/Zepbound strength, full-year guidance was raised, and the retatrutide Phase 3 package is complete ahead of a 2027 BLA submission.
Key Events · Earnings and Guidance · LLY
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Revenue Jumps 48% to $23.0B
Q2 2026 revenue reached $23.0 billion, up 48% year-over-year, driven by Mounjaro ($9.9B, +91%) and Zepbound ($4.9B, +46%).
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Full-Year Guidance Raised
2026 revenue guidance increased to $85.0–$87.0 billion; non-GAAP EPS guidance updated to $35.50–$36.50, reflecting strong underlying growth offset by $3.03 in acquired IPR&D charges.
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Retatrutide BLA Submission Planned for Q1 2027
The Phase 3 data package for retatrutide in obesity, sleep apnea, and knee osteoarthritis is complete, with a Biologics License Application submission to the FDA targeted for Q1 2027.
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$4.5B Manufacturing Expansion Commitment
Lilly committed an additional $4.5 billion to expand its Indiana manufacturing sites to support growing demand for its incretin products.
Analysis · LLY · Life Sciences
A standout quarter saw revenue surge 48% to $23.0 billion, fueled by Mounjaro and Zepbound. Full-year revenue guidance was raised to $85–$87 billion, and non-GAAP EPS is now seen at $35.50–$36.50, though the top end was trimmed by $2.8 billion in acquired IPR&D charges from recent deals. The retatrutide obesity data package is complete, with a BLA submission on track for Q1 2027, while an additional $4.5 billion is being committed to expand manufacturing capacity. The results reinforce Lilly's commanding position in the GLP-1 market and its willingness to invest aggressively in the pipeline.
At the time of this filing, LLY was trading at $1,170.05 on NYSE in the Life Sciences sector, with a market capitalization of approximately $1.1T. The 52-week trading range was $623.78 to $1,249.45. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.