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Eli Lilly Reports Mixed Q3 Earnings, Raises Guidance

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Eli Lilly Reports Mixed Q3 Earnings, Raises Guidance

Eli Lilly (NYSE: LLY) reported third-quarter earnings of $1.48 per share, which beat the analyst consensus estimate of $1.40 by 5.71%. This is a 6.47% increase over earnings of $1.39 per share from the same period last year.

The company reported quarterly sales of $5.48 billion, which missed the analyst consensus estimate of $5.5 billion by 0.36%. This is a 9.60% decrease over sales of $6.062 billion the same period last year.

Lilly raised fiscal year 2019 EPS guidance from $5.67-$5.77 to $5.75-$5.85 versus the $5.72 estimate and sees sales at $22 billion-$22.5 billion versus the $22.23 billion estimate.

Related Link: Eli Lilly Announces Positive Results For Emgality

"Lilly continued to deliver strong results in the third-quarter, due in large part to the growth of our newer medicines and our ability to effectively manage costs while supporting global launches in highly competitive classes and funding our next generation of new therapies," said David Ricks, Lilly's CEO.

"Lilly's revenue growth is being driven by volume, not price, as more and more patients are benefiting from our recently launched medicines. Our sustained investments in oncology, diabetes, immunology, and neuroscience research continue to be productive, with several new medicines expected to be submitted, launch and then reach patients over the next few years."

Eli Lilly shares were trading down 2.2% at $107.37 in Wednesday’s pre-market session. The stock has a 52-week high of $132.13 and a 52-week low of $104.17.

 

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