Lilly Beats Q3 With $24.4B Revenue, Lifts Full-Year Outlook to $92B
LLY sits 66% above its 52-week low of $809.63.
Summary
Lilly beat on both lines: Q3 revenue of $24.40B versus $22.61B consensus, up 39% year over year, and adjusted EPS of $7.48 against $6.49 expected, while reported EPS was $7.22 including $4.57 of acquired IPR&D charges. Growth came from Mounjaro and Zepbound demand, the Foundayo launch, expanded U.S. obesity coverage, and oncology, immunology and neuroscience products. About $900M of the quarter was one-off, mainly Jardiance milestones and favorable rebate and discount adjustments, and lower realized Zepbound prices partly offset volume gains. Management raised 2026 revenue guidance by $5.5B at the midpoint to $91.0-$92.0B and non-GAAP EPS to $35.00-$36.00, with a 52.0%-52.5% performance margin. The stock closed at $1,288.30 on October 28 and trades near its 52-week high, so the bar was already elevated; the guidance raise is the part that matters most for the thesis.
Updated with an SEC 8-K filing · What changed
Updates
· SEC 8-K — Lilly's Q3 2026 reported EPS was $7.22, including $4.57 of acquired IPR&D charges, and full-year revenue guidance rose $5.5B at the midpoint to $91.0-$92.0B.
At the time of this announcement, LLY was trading at $1,345.00 on NYSE in the Life Sciences sector, with a market capitalization of approximately $1.2T. The 52-week trading range was $809.63 to $1,321.21. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: Reuters.