Eli Lilly Again Boosts FY24 Outlook - Update
(RTTNews) - While reporting financial results for the second quarter on Thursday, drugmaker Eli Lilly and Co. (LLY) raised its earnings, adjusted earnings and revenue guidance for the full-year 2024, primarily driven by the strong performance of Mounjaro and Zepbound, as well as the company's non-incretin medicines.
For fiscal 2024, Eli Lilly now projects earnings in a range of $15.10 to $15.60 per share and adjusted earnings in a range of $16.10 to $16.60 per share on revenues between $45.4 billion and $46.6 billion.
Previously, the company expected earnings in the range of $13.05 to $13.55 per share and adjusted earnings in the range of $13.50 to $14.00 per share on revenues between $42.4 billion and $43.6 billion.
On average, analysts polled by Thomson Reuters expect the company to report earnings of $13.76 per share on revenues of $43.01 billion for the year. Analysts' estimates typically exclude special items.
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