Eli Lilly reported third-quarter earnings and revenue above analyst estimates and raised its 2026 revenue outlook. Zepbound and Mounjaro sales topped forecasts, while its new obesity pill Foundayo fell slightly short.
Eli Lilly raised its 2026 revenue forecast to between $91 billion and $92 billion, up from a previous guidance of $85 billion to $87 billion. The company's shares rose about 4% in premarket trading on Thursday after a third quarter that beat Wall Street's expectations.
Quarterly results top forecasts
Lilly posted adjusted earnings of $7.48 per share, against $6.26 expected in an LSEG survey of analysts. Revenue came in at $24.40 billion versus $22.61 billion expected.
Net income reached $6.45 billion, or $7.22 per share, including $4.57 per share in deal charges. A year earlier, net income was $5.58 billion, or $6.21 per share.
The company now projects full-year adjusted earnings per share of between $35 and $36, compared with a previous outlook of $35.50 to $36.50. Lilly said it raised the underlying profit guidance by $4.07 per share at the midpoint, offset by the $4.57 per share in charges tied to deals in the quarter.
Mounjaro and Zepbound drive growth
Mounjaro's worldwide revenue rose 65% to $10.72 billion, above the $10.10 billion analysts expected, according to StreetAccount. Sales outside the U.S. jumped 93%.
Zepbound brought in $5.35 billion, up 49% from the year-earlier period, versus $5.09 billion expected. Demand rose while realized prices dropped.
Overall, Lilly's U.S. revenue climbed 34% to $15.1 billion. A 41% increase in volume was partially offset by a 7% decrease in realized prices. Outside the U.S., sales jumped 47% to $9.3 billion, propelled by a 76% surge in volume and partly offset by a 29% drop in realized prices.
Foundayo misses estimates
Sales of Foundayo, the obesity pill that won U.S. approval in April, came in slightly under Wall Street's expectations. It took in $184 million, below analyst forecasts of around $229 million, according to StreetAccount estimates.
Foundayo competes head-to-head with a rival oral drug from Novo that launched in January.
Source: CNBC
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