Eli Lilly's shares hit their highest point since October after the company reported strong revenue and earnings for the fourth quarter of 2023. Revenue increased 45% year-over-year to $13.53 billion, exceeding expectations. Adjusted earnings per share reached $5.32, significantly higher than the predicted $4.95. Despite lower-than-expected sales for Mounjaro and Zepbound, Lilly's outlook for 2025 remains positive, with guidance for adjusted EPS between $22.50 and $24, and revenue between $58 billion and $61 billion.
Eli Lilly on Thursday reminded investors that the best growth story in large-cap pharmaceuticals has hardly grown stale, sending shares to their highest levels since October. Revenue in the three months ended Dec. 31 rose 45% year over year to $13.53 billion, in line with Wall Street expectations, according to LSEG. Lilly's disappointing preannouncement in January enabled analysts to tweak their estimates to effectively match the reported figure. Adjusted earnings per share of $5.
Indeed, as Lilly shares sold off on the preannouncement in January, Jim was clear in what to do: "Let the uniformed people sell." He also said, "I think you have to be on the horse that is Eli Lilly." It's not perfect, as the past few months showed, but it's still a thoroughbred. One of the most important new data points Lilly shared Thursday was its adjusted EPS outlook for 2025, which at $22.50 to $24 is better than the $22.69 analysts had expected.
EL Lilly Pharmaceuticals Earnings Revenue Shares Mounjaro Zepbound Pipeline Obesity Drugs Diabetes
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