Eli Lilly Q4 Earnings Beat Estimates On Higher Demand For Trulicity, COVID-19 Therapies; Reaffirms FY22 Guidance

Eli Lilly Q4 Earnings Beat Estimates On Higher Demand For Trulicity, COVID-19 Therapies; Reaffirms FY22 Guidance

Eli Lilly And Co LLY has posted Q4 sales of $7.9 billion, beating the consensus of $6.90 billion and increasing 8% Y/Y.

  • Higher sales were driven by an 11% increase in volume, partially offset by a 3 percent decrease due to lower realized prices.
  • Key growth products, consisting of Trulicity, Taltz, Verzenio, Jardiance, Olumiant, Emgality, Retevmo, Cyramza, and Tyvyt, contributed 14 percentage points of revenue growth.
  • Trulicity sales jumped 25% to $1.88 billion.
  • Revenue from COVID-19 antibodies during the quarter reached $1.063 billion, and $2.24 billion in FY21, ahead of expectations. Excluding revenue from COVID-19 antibodies, worldwide revenue increased by 6% in Q4.
  • The gross margin was 76.1%, a decrease of 2.5 percentage points from a year ago. Adjusted operating margin reached 31.7%.
  • Adjusted EPS increased 8% Y/Y to $2.49, ahead of the consensus of $2.19.
  • FY22 guidance: Eli Lilly anticipates revenue of $27.8 billion - $28.3 billion, compared to the consensus of $24.88 billion.
  • Lilly sees adjusted EPS $8.50 - $8.65, versus the consensus of $7.54.
  • Price Action: LLY shares are down 1.13% at $248.00 during the premarket session on the last check Tuesday.

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