Eli Lilly Q3 Earnings: Mounjaro Sales More Than Double, Takes $2.98 Billion Hit To Profit, Cuts Annual Outlook, Stock Tanks
Benzinga
2024-10-30
Views 1.4K
On Wednesday, Eli Lilly and Co (NYSE:LLY) stock plummeted after the company released worse-than-expected third-quarter earnings and lowered 2024 guidance.
The U.S. pharma giant reported third-quarter revenue of $11.44 billion, up 20% year over year, but it missed the consensus of $12.10 billion.
The increase was driven by a 15% increase in volume and a 6% increase due to higher realized prices, partially offset by a 1% decrease from the unfavorable impact of foreign exchange rates.
The company reported an adjusted EPS of $1.18, compared to $0.10 from a year ago and missing the consensus of $1.45. Mounjaro sales more than doubled to $3.11 billion from $1.41 billion a year ago.
The U.S. pharma giant reported third-quarter revenue of $11.44 billion, up 20% year over year, but it missed the consensus of $12.10 billion.
The increase was driven by a 15% increase in volume and a 6% increase due to higher realized prices, partially offset by a 1% decrease from the unfavorable impact of foreign exchange rates.
The company reported an adjusted EPS of $1.18, compared to $0.10 from a year ago and missing the consensus of $1.45. Mounjaro sales more than doubled to $3.11 billion from $1.41 billion a year ago.
Report form
