US drugmaker Eli Lilly beats Q3 revenue estimates on product demand, lifts FY outlook

Eli Lilly and

Yesterday 10:58

Overview
U.S. drugmaker's Q3 revenue rose 39% yr/yr and beat analyst expectations
Adjusted EPS for Q3 rose 7% and beat analyst expectations
Company raised full-year revenue and non-GAAP EPS guidance

Outlook
Lilly raises 2026 full-year revenue guidance to $91 bln-$92 bln
Company updates 2026 non-GAAP EPS guidance to $35.00-$36.00
Lilly now sees 2026 performance margin at 52.0%-52.5%

Result Drivers
PRODUCT DEMAND - Co said Q3 revenue growth was driven by strong global demand for Mounjaro and Zepbound, launches of Foundayo, expanded U.S. obesity coverage and growth in oncology, immunology and neuroscience products
ONE-OFF BENEFITS - Q3 revenue included $900 mln in benefits, mainly from Jardiance milestones and favorable rebate and discount adjustments
PRICING PRESSURE - Co said lower realized prices, mainly for Zepbound, partially offset volume gains

Company press release: ID:nPn8mqxm4a

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
Beat
$24.40 bln
$22.61 bln (19 Analysts)
Q3 Adjusted EPS
Beat
$7.48
$6.49 (21 Analysts)
Q3 EPS
 
$7.22
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 29 "strong buy" or "buy", 3 "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the pharmaceuticals peer group is "buy"
Wall Street's median 12-month price target for Eli Lilly and Company is $1,386.50, about 7.6% above its October 28 closing price of $1,288.30
The stock recently traded at 28 times the next 12-month earnings vs. a P/E of 29 three months ago

Reuters Recommended Reads
Oct 29 - Eli Lilly lifts revenue outlook on weight-loss drug sales, trims profit view on deal charges
Oct 28 - Lilly's retatrutide outshines Ozempic on weight loss, blood sugar control in trial
Oct 28 - Biogen tops quarterly estimates on rare-disease drug strength

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)