Lilly Beats Q3, Lifts Revenue Outlook to $91B-$92B on Mounjaro, Zepbound Surge
LLY sits 69% above its 52-week low of $809.63.
Summary
Lilly beat Q3 handily: revenue rose 39% to $24.4 billion against $22.58 billion expected, and adjusted EPS came in at $7.48 versus $5.68. Mounjaro sales jumped 65% to $10.72 billion and Zepbound climbed 49% to $5.35 billion, with management saying the Medicare Bridge program that launched in July is performing above expectations and most new enrollees start on a Lilly drug. The company raised full-year revenue guidance for the third time this year, to $91 billion-$92 billion from $85 billion-$87 billion, though adjusted EPS guidance was trimmed to $35-$36 from $35.50-$36.50 to absorb acquired IPR&D charges from the AtaiBeckley and Curevo deals. Shares rose 6.2% to $1,368.27 and are up 28% year to date, near the 52-week high. This follows the August 5 Q2 blowout and the September EloraTZP and Foundayo data that kept the obesity franchise narrative intact.
At the time of this announcement, LLY was trading at $1,370.30 on NYSE in the Life Sciences sector, with a market capitalization of approximately $1.3T. The 52-week trading range was $809.63 to $1,408.38. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: Dow Jones Newswires.