Eli Lilly Stock and Company saw a sharp stock decline after third-quarter results missed analyst expectations. The Indianapolis-based pharmaceutical giant reported adjusted earnings of $1.18 per share, well below Wall Street’s $1.47 forecast, causing its stock to tumble over 12% in morning trading and impacting the healthcare sector.
The company’s revenue for the period ended Sept. 30 was reported at $11.44 billion, missing the anticipated $12.11 billion. The disappointing sales figures for key drugs Mounjaro and Zepbound, which brought in $3.11 billion and $1.26 billion respectively, contributed to this underwhelming financial performance. CEO David Ricks cited reduced inventory levels held by U.S. pharmaceutical wholesalers as a primary factor for the shortfall but emphasized the strong demand for these treatments.
Despite revenues climbing by 20% year-over-year, Eli Lilly’s revised full-year adjusted profit guidance now ranges between $13.02 and $13.52 per share, down from the initial forecast of $16.10 to $16.60 per share. This adjustment has led to a downward revision of their revenue outlook to between $45.4 billion and $46 billion, below the earlier forecast of up to $46.6 billion.
Key Takeaways
- Eli Lilly’s stock declined more than 12% following a disappointing third-quarter financial report.
- Earnings per share were $1.18, missing the expected $1.47.
- Revenue of $11.44 billion fell short of the anticipated $12.11 billion.
- Sales of key drugs Mounjaro and Zepbound did not meet expectations, generating $3.11 billion and $1.26 billion respectively.
- Full-year adjusted profit guidance was revised downward to a range of $13.02 to $13.52 per share.
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Overview of Eli Lilly’s Quarterly Financial Results
Eli Lilly’s latest financial report showcased a mixed performance, reflecting both achievements and setbacks in their quarterly financial results. The company revealed a 20% year-over-year increase in revenue, reaching $11.44 billion. Unfortunately, this figure did not meet the analyst expectations of $12.09 billion, marking a significant revenue disappointment. Furthermore, Eli Lilly’s earnings for the quarter were reported at $970 million, with adjusted results amounting to $1.18 per share. These earnings per share also fell short of the anticipated $1.45 as projected by analysts.
Revenue and Earnings Reports
Despite the overall increase in revenue, several factors contributed to the financial market’s tepid response. Key sales figures included $3.1 billion from the diabetes treatment Mounjaro and $1.3 billion from the weight-loss drug Zepbound, both of which undershot analyst expectations. Additionally, Eli Lilly’s diabetes treatment Trulicity saw a significant decline of 22% in sales, totaling $1.3 billion for the quarter. This dip highlighted the intricate challenges the company faces within the pharmaceutical industry.
Comparison with Analyst Expectations
The financial community had projected higher results for Eli Lilly. Analysts expected quarterly earnings per share of $1.45 on revenue of $12.09 billion, according to FactSet. The actual outcomes—$1.18 per share and $11.44 billion in revenue—reflected a notable gap from these projections, underscoring the revenue disappointment. This shortfall was a central factor contributing to the decline in share price and market reactions.
Impact of Missed Estimates on Eli Lilly’s Stock Price
Following the release of the third-quarter financial results, Eli Lilly’s stock price experienced significant turbulence. Shortly after announcing that the company missed earnings and revenue estimates and subsequently slashed its profit forecast, investor confidence waned notably. The report led to the stock dropping by 6% to $846.56 during midday trading, while a 9% fall was observed before the market opened on the day of the disclosure. This substantial decline underscores the impact of missed estimates on Eli Lilly Stock Tumbles after Drug Giant Misses estimates and slashes profit.
The broader implications of Eli Lilly’s performance ripple through the stock market, affecting the overall stability of pharmaceutical stocks. Here’s an overview of the key financial data that highlights Eli Lilly’s market performance:
| Metric | Value |
|---|---|
| Year Range of Stock Price | $547.61 – $972.53 |
| Market Cap | $791.64 billion |
| Average Daily Trading Volume (Past 30 Days) | 2.51 million shares |
| P/E Ratio | 102.33 |
| Dividend Yield | 0.63% |
| CDP Climate Change Score | A- |
Such significant movements in Eli Lilly’s stock market performance inevitably draw comparisons with other market activities. For instance, fluctuations across diverse international markets emphasize the interconnected nature of global finance. As Eli Lilly’s stock tumbles, the broader industry must be evaluated to understand the long-term repercussions of these missed estimates and profit forecast revisions.
Key Factors Behind the Revenue Disappointment
Eli Lilly experienced considerable revenue disappointment in the latest quarter, resulting in substantial impacts on their financial performance. Various contributing factors were identified by analysts pointing to key areas where the company fell short of expectations, notably in the sales performance of its leading drugs Mounjaro and Zepbound.
Mounjaro and Zepbound Sales Performance
The performance of Mounjaro and Zepbound was central to the observed revenue disappointment. Mounjaro sales for the third quarter reached $3.11 billion, which, though higher compared to the same period last year, fell short of the forecasted $3.77 billion. Similarly, Zepbound performance lagged behind projections, bringing in $1.26 billion against analyst expectations of $1.76 billion. These shortfalls were significant in the context of Eli Lilly’s overall revenue targets.
Both drugs faced challenges primarily related to inventory levels and supply chain issues within the U.S. pharmaceutical market. The reduction in wholesaler inventory levels directly impacted the availability and thus sales figures of these key products, contributing to the overall revenue miss. Additionally, the removal of tirzepatide, the active ingredient in both medications, from the FDA’s shortage list created opposition from compounding pharmacies, further complicating the market dynamics.
Challenges in U.S. Pharmaceutical Wholesaler Inventory
The U.S. pharmaceutical market’s dynamics presented additional hurdles for Eli Lilly during this period. Inventory reductions by wholesalers meant that less product was available for end-users, leading to fewer sales. This inventory management strategy among U.S. pharmaceutical wholesalers, while aimed at optimizing stock levels, inadvertently impacted Eli Lilly’s ability to meet the burgeoning demand for drugs like Mounjaro and Zepbound. Furthermore, regulatory complexities and concerns over the safety of non-FDA-approved versions of these drugs influenced the overall sales landscape negatively.
In summary, the third-quarter revenue disappointment for Eli Lilly can be attributed to several intertwined factors, including lower-than-expected Mounjaro sales, subpar Zepbound performance, and challenges within the U.S. pharmaceutical market inventory levels. These combined elements underscored a financially tumultuous period for the company and illuminated areas for potential strategic reassessment moving forward.
Effects on the Pharmaceutical Industry and Biotech Stocks
Eli Lilly’s recent financial shortfall created ripples throughout the pharmaceutical industry. The missed estimates in earnings and revenue have broader implications not only for Eli Lilly but for biotech stocks and the entire healthcare sector. With a revenue increase of 20% to $11.44 billion and adjusted earnings totaling $1.18 per share, the figures still fell below analysts’ expectations of $1.45 per share on $12.09 billion in revenue, according to FactSet.
The healthcare sector impact is considerable, as Eli Lilly’s performance can serve as a barometer for investor confidence in biotech stocks. Investors are reevaluating their positions, causing concerns across the pharmaceutical industry. AstraZeneca, for example, recently completed a $2.4 billion buyout of Fusion to secure a radiopharmaceutical deal, and an $800 million buyout of startup Amolyt for rare disease medication. This shows the significant investments pharmaceutical companies are making to remain competitive.
Noteworthy transactions continue to shape the sector. Bayer’s $425 million acquisition of a menopause drug and Bristol Myers’ Breyanzi receiving first-of-its-kind approval illustrate that despite challenges, innovation and strategic buyouts are pivotal. Furthermore, Pfizer’s ambitious plan to produce eight billion-dollar medicines by 2030 highlights the aggressive growth strategies companies are adopting within the pharmaceutical industry.
Below is a table detailing major recent deals and their respective impacts:
| Company | Transaction | Value | Impact |
|---|---|---|---|
| AstraZeneca | Buyout of Fusion | $2.4 billion | Significant investment in radiopharmaceuticals |
| AstraZeneca | Buyout of Amolyt | $800 million | Expansion into rare disease drugs |
| Bayer | Acquisition of Menopause Drug | $425 million | Strengthening position in women’s health |
| Pfizer | Oncology Division Initiative | Eight billion-dollar medicines by 2030 | Long-term growth and innovation |
| Alvotech & Teva | Approval of Humira biosimilar, Simlandi | Not specified | Increased competition in biologics |
Moreover, the financial fallout from Eli Lilly’s report impacted sentiments further. The decline in their stock price by 6% or $57.02 to $846.56 mid-trading contrasts sharply with broader indexes that saw a slight uptick. This market reaction underscores the delicate balance within the biotech ecosystem, emphasizing how critical each earnings report can be for market participants involved in the healthcare sector.
Eli Lilly’s Profit Forecast Revision for 2024
Eli Lilly recently announced a substantial revision to its profit forecast for 2024, adjusting its projected earnings down to a range between $13.02 and $13.52 per share. This is a significant decrease from the higher estimate of over $16 per share forecasted in August. Despite this downward adjustment, the new earnings guidance still suggests a notable increase in expected profits compared to 2023. The revision is primarily attributed to a $2.8 billion charge stemming from the Morphic Holding acquisition.
New Earnings Guidance
The new earnings guidance represents a cautious outlook for the upcoming year. The updated forecast aligns more closely with analyst expectations, which now predict an average adjusted earnings of $13.42 per share. This cautious approach from Eli Lilly reflects both a strategic financial reassessment and an effort to manage investor expectations more effectively in light of recent developments.
Analyst Reactions
The mixed reactions from analysts highlight the complexities surrounding Eli Lilly’s profit forecast revision for 2024. Some analysts remain optimistic about the company’s long-term prospects, considering the new earnings guidance manageable given the potential for substantial profit growth. Meanwhile, other market watchers express concerns about the impact of the $2.8 billion charge. Despite the varied views, the update has led to a reevaluation of stock ratings and investment strategies among market participants.
In summary, Eli Lilly’s profit forecast revision for 2024 has garnered significant attention, with its new earnings guidance reshaping analyst expectations and investor sentiment. This strategic update seems aimed at aligning visions for the coming year amidst a dynamic financial landscape.
Comparative Analysis: Eli Lilly vs. Competitors
The performance of Eli Lilly’s stock is often gauged alongside key competitors in the pharmaceutical sector, one notable player being Novo Nordisk. Following Eli Lilly’s missed estimates, Novo Nordisk’s shares also saw a decline, although a smaller one, reflecting sector-wide pressures.
Novo Nordisk and Its Stock Performance
Novo Nordisk experienced a stock drop of over 3% in reaction to Eli Lilly’s report, highlighting how interconnected market perceptions can be within the sector. Both pharmaceutical giants have seen increased consumer demand for their weight-loss and diabetes treatments. As a response, substantial investments have been made to expand manufacturing capacities. Eli Lilly projected that its production for incretin drugs in the latter half of 2024 would be 50% higher compared to the previous year. This aggressive expansion aims to capture more market share and meet the rising consumer demand.
Market Share and Consumer Demand
The rivalry between Eli Lilly and Novo Nordisk is steeped in efforts to dominate market share while catering to rising consumer demands. List prices for some of Eli Lilly’s popular insulin products were slashed by 70%, significantly impacting its market positioning. Insulin copays for uninsured patients and those with private insurance are capped at $35, mirroring efforts from the Inflation Reduction Act that capped costs for Medicare beneficiaries. Lower prices from Eli Lilly have exerted pressure on competitors like Novo Nordisk and Sanofi to follow suit, aiming to make insulin more affordable and improve patient adherence.
Competitive pricing strategies and production expansions by both companies indicate a strong commitment to addressing consumer needs and maintaining market competitiveness. Despite the current market challenges, both Eli Lilly and Novo Nordisk continue to play pivotal roles in shaping the future landscape of the pharmaceutical industry.
FAQ
What caused Eli Lilly’s stock to tumble?
How did Eli Lilly’s quarterly revenue compare to analyst expectations?
What were the earnings per share (EPS) for Eli Lilly in the third quarter?
What caused Eli Lilly’s stock to tumble?
How did Eli Lilly’s quarterly revenue compare to analyst expectations?
What were the earnings per share (EPS) for Eli Lilly in the third quarter?
FAQ
What caused Eli Lilly’s stock to tumble?
Eli Lilly’s stock tumbled after the company reported third-quarter earnings that missed Wall Street expectations and subsequently slashed its profit forecast for 2024. Key drugs like Mounjaro and Zepbound experienced lower-than-expected sales, leading to investor dissatisfaction.
How did Eli Lilly’s quarterly revenue compare to analyst expectations?
Eli Lilly reported a quarterly revenue of .44 billion, which was a 20% increase year over year but fell short of the .09 billion revenue mark expected by analysts.
What were the earnings per share (EPS) for Eli Lilly in the third quarter?
Eli Lilly reported adjusted earnings per share of
FAQ
What caused Eli Lilly’s stock to tumble?
Eli Lilly’s stock tumbled after the company reported third-quarter earnings that missed Wall Street expectations and subsequently slashed its profit forecast for 2024. Key drugs like Mounjaro and Zepbound experienced lower-than-expected sales, leading to investor dissatisfaction.
How did Eli Lilly’s quarterly revenue compare to analyst expectations?
Eli Lilly reported a quarterly revenue of $11.44 billion, which was a 20% increase year over year but fell short of the $12.09 billion revenue mark expected by analysts.
What were the earnings per share (EPS) for Eli Lilly in the third quarter?
Eli Lilly reported adjusted earnings per share of $1.18, which was below the anticipated $1.45 per share.
What factors contributed to the revenue disappointment for Eli Lilly?
The revenue disappointment was driven by lower-than-expected sales of key drugs Mounjaro and Zepbound, inventory reductions by U.S. pharmaceutical wholesalers, and supply chain challenges.
What impact did the financial results have on Eli Lilly’s stock price?
Following the release of their third-quarter financial results, Eli Lilly’s stock price fell by 6% to $846.56 in midday trading, and experienced a 9% drop before the market bell on the day of the announcement.
How did the missed estimates affect the broader pharmaceutical industry and biotech stocks?
Eli Lilly’s financial disappointment raised concerns about similar issues across the biotech sector, potentially impacting investor sentiment and the performance of industry-related stocks.
What changes did Eli Lilly make to its profit forecast for 2024?
Eli Lilly cut its earnings guidance for 2024, predicting adjusted earnings to range between $13.02 and $13.52 per share, down from the previously optimistic forecast of more than $16 per share.
How did analysts react to Eli Lilly’s revised earnings guidance?
Analysts had mixed reactions to the revised earnings guidance, with some maintaining a positive outlook on the stock despite the adjusted, lower forecast.
How does Eli Lilly’s financial performance compare to its competitor Novo Nordisk?
Novo Nordisk’s shares also saw a decline, albeit smaller at over 3%, following Eli Lilly’s report, indicating that pressures might be affecting the entire sector. Both companies have faced rising consumer demand for weight-loss and diabetes treatments, leading to significant investments in expanding manufacturing capacity.
.18, which was below the anticipated
FAQ
What caused Eli Lilly’s stock to tumble?
Eli Lilly’s stock tumbled after the company reported third-quarter earnings that missed Wall Street expectations and subsequently slashed its profit forecast for 2024. Key drugs like Mounjaro and Zepbound experienced lower-than-expected sales, leading to investor dissatisfaction.
How did Eli Lilly’s quarterly revenue compare to analyst expectations?
Eli Lilly reported a quarterly revenue of $11.44 billion, which was a 20% increase year over year but fell short of the $12.09 billion revenue mark expected by analysts.
What were the earnings per share (EPS) for Eli Lilly in the third quarter?
Eli Lilly reported adjusted earnings per share of $1.18, which was below the anticipated $1.45 per share.
What factors contributed to the revenue disappointment for Eli Lilly?
The revenue disappointment was driven by lower-than-expected sales of key drugs Mounjaro and Zepbound, inventory reductions by U.S. pharmaceutical wholesalers, and supply chain challenges.
What impact did the financial results have on Eli Lilly’s stock price?
Following the release of their third-quarter financial results, Eli Lilly’s stock price fell by 6% to $846.56 in midday trading, and experienced a 9% drop before the market bell on the day of the announcement.
How did the missed estimates affect the broader pharmaceutical industry and biotech stocks?
Eli Lilly’s financial disappointment raised concerns about similar issues across the biotech sector, potentially impacting investor sentiment and the performance of industry-related stocks.
What changes did Eli Lilly make to its profit forecast for 2024?
Eli Lilly cut its earnings guidance for 2024, predicting adjusted earnings to range between $13.02 and $13.52 per share, down from the previously optimistic forecast of more than $16 per share.
How did analysts react to Eli Lilly’s revised earnings guidance?
Analysts had mixed reactions to the revised earnings guidance, with some maintaining a positive outlook on the stock despite the adjusted, lower forecast.
How does Eli Lilly’s financial performance compare to its competitor Novo Nordisk?
Novo Nordisk’s shares also saw a decline, albeit smaller at over 3%, following Eli Lilly’s report, indicating that pressures might be affecting the entire sector. Both companies have faced rising consumer demand for weight-loss and diabetes treatments, leading to significant investments in expanding manufacturing capacity.
.45 per share.
What factors contributed to the revenue disappointment for Eli Lilly?
The revenue disappointment was driven by lower-than-expected sales of key drugs Mounjaro and Zepbound, inventory reductions by U.S. pharmaceutical wholesalers, and supply chain challenges.
What impact did the financial results have on Eli Lilly’s stock price?
Following the release of their third-quarter financial results, Eli Lilly’s stock price fell by 6% to 6.56 in midday trading, and experienced a 9% drop before the market bell on the day of the announcement.
How did the missed estimates affect the broader pharmaceutical industry and biotech stocks?
Eli Lilly’s financial disappointment raised concerns about similar issues across the biotech sector, potentially impacting investor sentiment and the performance of industry-related stocks.
What changes did Eli Lilly make to its profit forecast for 2024?
Eli Lilly cut its earnings guidance for 2024, predicting adjusted earnings to range between .02 and .52 per share, down from the previously optimistic forecast of more than per share.
How did analysts react to Eli Lilly’s revised earnings guidance?
Analysts had mixed reactions to the revised earnings guidance, with some maintaining a positive outlook on the stock despite the adjusted, lower forecast.
How does Eli Lilly’s financial performance compare to its competitor Novo Nordisk?
Novo Nordisk’s shares also saw a decline, albeit smaller at over 3%, following Eli Lilly’s report, indicating that pressures might be affecting the entire sector. Both companies have faced rising consumer demand for weight-loss and diabetes treatments, leading to significant investments in expanding manufacturing capacity.
FAQ
What caused Eli Lilly’s stock to tumble?
Eli Lilly’s stock tumbled after the company reported third-quarter earnings that missed Wall Street expectations and subsequently slashed its profit forecast for 2024. Key drugs like Mounjaro and Zepbound experienced lower-than-expected sales, leading to investor dissatisfaction.
How did Eli Lilly’s quarterly revenue compare to analyst expectations?
Eli Lilly reported a quarterly revenue of .44 billion, which was a 20% increase year over year but fell short of the .09 billion revenue mark expected by analysts.
What were the earnings per share (EPS) for Eli Lilly in the third quarter?
Eli Lilly reported adjusted earnings per share of
FAQ
What caused Eli Lilly’s stock to tumble?
Eli Lilly’s stock tumbled after the company reported third-quarter earnings that missed Wall Street expectations and subsequently slashed its profit forecast for 2024. Key drugs like Mounjaro and Zepbound experienced lower-than-expected sales, leading to investor dissatisfaction.
How did Eli Lilly’s quarterly revenue compare to analyst expectations?
Eli Lilly reported a quarterly revenue of $11.44 billion, which was a 20% increase year over year but fell short of the $12.09 billion revenue mark expected by analysts.
What were the earnings per share (EPS) for Eli Lilly in the third quarter?
Eli Lilly reported adjusted earnings per share of $1.18, which was below the anticipated $1.45 per share.
What factors contributed to the revenue disappointment for Eli Lilly?
The revenue disappointment was driven by lower-than-expected sales of key drugs Mounjaro and Zepbound, inventory reductions by U.S. pharmaceutical wholesalers, and supply chain challenges.
What impact did the financial results have on Eli Lilly’s stock price?
Following the release of their third-quarter financial results, Eli Lilly’s stock price fell by 6% to $846.56 in midday trading, and experienced a 9% drop before the market bell on the day of the announcement.
How did the missed estimates affect the broader pharmaceutical industry and biotech stocks?
Eli Lilly’s financial disappointment raised concerns about similar issues across the biotech sector, potentially impacting investor sentiment and the performance of industry-related stocks.
What changes did Eli Lilly make to its profit forecast for 2024?
Eli Lilly cut its earnings guidance for 2024, predicting adjusted earnings to range between $13.02 and $13.52 per share, down from the previously optimistic forecast of more than $16 per share.
How did analysts react to Eli Lilly’s revised earnings guidance?
Analysts had mixed reactions to the revised earnings guidance, with some maintaining a positive outlook on the stock despite the adjusted, lower forecast.
How does Eli Lilly’s financial performance compare to its competitor Novo Nordisk?
Novo Nordisk’s shares also saw a decline, albeit smaller at over 3%, following Eli Lilly’s report, indicating that pressures might be affecting the entire sector. Both companies have faced rising consumer demand for weight-loss and diabetes treatments, leading to significant investments in expanding manufacturing capacity.
.18, which was below the anticipated
FAQ
What caused Eli Lilly’s stock to tumble?
Eli Lilly’s stock tumbled after the company reported third-quarter earnings that missed Wall Street expectations and subsequently slashed its profit forecast for 2024. Key drugs like Mounjaro and Zepbound experienced lower-than-expected sales, leading to investor dissatisfaction.
How did Eli Lilly’s quarterly revenue compare to analyst expectations?
Eli Lilly reported a quarterly revenue of $11.44 billion, which was a 20% increase year over year but fell short of the $12.09 billion revenue mark expected by analysts.
What were the earnings per share (EPS) for Eli Lilly in the third quarter?
Eli Lilly reported adjusted earnings per share of $1.18, which was below the anticipated $1.45 per share.
What factors contributed to the revenue disappointment for Eli Lilly?
The revenue disappointment was driven by lower-than-expected sales of key drugs Mounjaro and Zepbound, inventory reductions by U.S. pharmaceutical wholesalers, and supply chain challenges.
What impact did the financial results have on Eli Lilly’s stock price?
Following the release of their third-quarter financial results, Eli Lilly’s stock price fell by 6% to $846.56 in midday trading, and experienced a 9% drop before the market bell on the day of the announcement.
How did the missed estimates affect the broader pharmaceutical industry and biotech stocks?
Eli Lilly’s financial disappointment raised concerns about similar issues across the biotech sector, potentially impacting investor sentiment and the performance of industry-related stocks.
What changes did Eli Lilly make to its profit forecast for 2024?
Eli Lilly cut its earnings guidance for 2024, predicting adjusted earnings to range between $13.02 and $13.52 per share, down from the previously optimistic forecast of more than $16 per share.
How did analysts react to Eli Lilly’s revised earnings guidance?
Analysts had mixed reactions to the revised earnings guidance, with some maintaining a positive outlook on the stock despite the adjusted, lower forecast.
How does Eli Lilly’s financial performance compare to its competitor Novo Nordisk?
Novo Nordisk’s shares also saw a decline, albeit smaller at over 3%, following Eli Lilly’s report, indicating that pressures might be affecting the entire sector. Both companies have faced rising consumer demand for weight-loss and diabetes treatments, leading to significant investments in expanding manufacturing capacity.
.45 per share.
What factors contributed to the revenue disappointment for Eli Lilly?
The revenue disappointment was driven by lower-than-expected sales of key drugs Mounjaro and Zepbound, inventory reductions by U.S. pharmaceutical wholesalers, and supply chain challenges.
What impact did the financial results have on Eli Lilly’s stock price?
Following the release of their third-quarter financial results, Eli Lilly’s stock price fell by 6% to 6.56 in midday trading, and experienced a 9% drop before the market bell on the day of the announcement.
How did the missed estimates affect the broader pharmaceutical industry and biotech stocks?
Eli Lilly’s financial disappointment raised concerns about similar issues across the biotech sector, potentially impacting investor sentiment and the performance of industry-related stocks.
What changes did Eli Lilly make to its profit forecast for 2024?
Eli Lilly cut its earnings guidance for 2024, predicting adjusted earnings to range between .02 and .52 per share, down from the previously optimistic forecast of more than per share.
How did analysts react to Eli Lilly’s revised earnings guidance?
Analysts had mixed reactions to the revised earnings guidance, with some maintaining a positive outlook on the stock despite the adjusted, lower forecast.
How does Eli Lilly’s financial performance compare to its competitor Novo Nordisk?
Novo Nordisk’s shares also saw a decline, albeit smaller at over 3%, following Eli Lilly’s report, indicating that pressures might be affecting the entire sector. Both companies have faced rising consumer demand for weight-loss and diabetes treatments, leading to significant investments in expanding manufacturing capacity.
What factors contributed to the revenue disappointment for Eli Lilly?
What impact did the financial results have on Eli Lilly’s stock price?
How did the missed estimates affect the broader pharmaceutical industry and biotech stocks?
What changes did Eli Lilly make to its profit forecast for 2024?
How did analysts react to Eli Lilly’s revised earnings guidance?
How does Eli Lilly’s financial performance compare to its competitor Novo Nordisk?
What caused Eli Lilly’s stock to tumble?
How did Eli Lilly’s quarterly revenue compare to analyst expectations?
What were the earnings per share (EPS) for Eli Lilly in the third quarter?
FAQ
What caused Eli Lilly’s stock to tumble?
Eli Lilly’s stock tumbled after the company reported third-quarter earnings that missed Wall Street expectations and subsequently slashed its profit forecast for 2024. Key drugs like Mounjaro and Zepbound experienced lower-than-expected sales, leading to investor dissatisfaction.
How did Eli Lilly’s quarterly revenue compare to analyst expectations?
Eli Lilly reported a quarterly revenue of .44 billion, which was a 20% increase year over year but fell short of the .09 billion revenue mark expected by analysts.
What were the earnings per share (EPS) for Eli Lilly in the third quarter?
Eli Lilly reported adjusted earnings per share of
FAQ
What caused Eli Lilly’s stock to tumble?
Eli Lilly’s stock tumbled after the company reported third-quarter earnings that missed Wall Street expectations and subsequently slashed its profit forecast for 2024. Key drugs like Mounjaro and Zepbound experienced lower-than-expected sales, leading to investor dissatisfaction.
How did Eli Lilly’s quarterly revenue compare to analyst expectations?
Eli Lilly reported a quarterly revenue of $11.44 billion, which was a 20% increase year over year but fell short of the $12.09 billion revenue mark expected by analysts.
What were the earnings per share (EPS) for Eli Lilly in the third quarter?
Eli Lilly reported adjusted earnings per share of $1.18, which was below the anticipated $1.45 per share.
What factors contributed to the revenue disappointment for Eli Lilly?
The revenue disappointment was driven by lower-than-expected sales of key drugs Mounjaro and Zepbound, inventory reductions by U.S. pharmaceutical wholesalers, and supply chain challenges.
What impact did the financial results have on Eli Lilly’s stock price?
Following the release of their third-quarter financial results, Eli Lilly’s stock price fell by 6% to $846.56 in midday trading, and experienced a 9% drop before the market bell on the day of the announcement.
How did the missed estimates affect the broader pharmaceutical industry and biotech stocks?
Eli Lilly’s financial disappointment raised concerns about similar issues across the biotech sector, potentially impacting investor sentiment and the performance of industry-related stocks.
What changes did Eli Lilly make to its profit forecast for 2024?
Eli Lilly cut its earnings guidance for 2024, predicting adjusted earnings to range between $13.02 and $13.52 per share, down from the previously optimistic forecast of more than $16 per share.
How did analysts react to Eli Lilly’s revised earnings guidance?
Analysts had mixed reactions to the revised earnings guidance, with some maintaining a positive outlook on the stock despite the adjusted, lower forecast.
How does Eli Lilly’s financial performance compare to its competitor Novo Nordisk?
Novo Nordisk’s shares also saw a decline, albeit smaller at over 3%, following Eli Lilly’s report, indicating that pressures might be affecting the entire sector. Both companies have faced rising consumer demand for weight-loss and diabetes treatments, leading to significant investments in expanding manufacturing capacity.
.18, which was below the anticipated
FAQ
What caused Eli Lilly’s stock to tumble?
Eli Lilly’s stock tumbled after the company reported third-quarter earnings that missed Wall Street expectations and subsequently slashed its profit forecast for 2024. Key drugs like Mounjaro and Zepbound experienced lower-than-expected sales, leading to investor dissatisfaction.
How did Eli Lilly’s quarterly revenue compare to analyst expectations?
Eli Lilly reported a quarterly revenue of $11.44 billion, which was a 20% increase year over year but fell short of the $12.09 billion revenue mark expected by analysts.
What were the earnings per share (EPS) for Eli Lilly in the third quarter?
Eli Lilly reported adjusted earnings per share of $1.18, which was below the anticipated $1.45 per share.
What factors contributed to the revenue disappointment for Eli Lilly?
The revenue disappointment was driven by lower-than-expected sales of key drugs Mounjaro and Zepbound, inventory reductions by U.S. pharmaceutical wholesalers, and supply chain challenges.
What impact did the financial results have on Eli Lilly’s stock price?
Following the release of their third-quarter financial results, Eli Lilly’s stock price fell by 6% to $846.56 in midday trading, and experienced a 9% drop before the market bell on the day of the announcement.
How did the missed estimates affect the broader pharmaceutical industry and biotech stocks?
Eli Lilly’s financial disappointment raised concerns about similar issues across the biotech sector, potentially impacting investor sentiment and the performance of industry-related stocks.
What changes did Eli Lilly make to its profit forecast for 2024?
Eli Lilly cut its earnings guidance for 2024, predicting adjusted earnings to range between $13.02 and $13.52 per share, down from the previously optimistic forecast of more than $16 per share.
How did analysts react to Eli Lilly’s revised earnings guidance?
Analysts had mixed reactions to the revised earnings guidance, with some maintaining a positive outlook on the stock despite the adjusted, lower forecast.
How does Eli Lilly’s financial performance compare to its competitor Novo Nordisk?
Novo Nordisk’s shares also saw a decline, albeit smaller at over 3%, following Eli Lilly’s report, indicating that pressures might be affecting the entire sector. Both companies have faced rising consumer demand for weight-loss and diabetes treatments, leading to significant investments in expanding manufacturing capacity.
.45 per share.
What factors contributed to the revenue disappointment for Eli Lilly?
The revenue disappointment was driven by lower-than-expected sales of key drugs Mounjaro and Zepbound, inventory reductions by U.S. pharmaceutical wholesalers, and supply chain challenges.
What impact did the financial results have on Eli Lilly’s stock price?
Following the release of their third-quarter financial results, Eli Lilly’s stock price fell by 6% to 6.56 in midday trading, and experienced a 9% drop before the market bell on the day of the announcement.
How did the missed estimates affect the broader pharmaceutical industry and biotech stocks?
Eli Lilly’s financial disappointment raised concerns about similar issues across the biotech sector, potentially impacting investor sentiment and the performance of industry-related stocks.
What changes did Eli Lilly make to its profit forecast for 2024?
Eli Lilly cut its earnings guidance for 2024, predicting adjusted earnings to range between .02 and .52 per share, down from the previously optimistic forecast of more than per share.
How did analysts react to Eli Lilly’s revised earnings guidance?
Analysts had mixed reactions to the revised earnings guidance, with some maintaining a positive outlook on the stock despite the adjusted, lower forecast.
How does Eli Lilly’s financial performance compare to its competitor Novo Nordisk?
Novo Nordisk’s shares also saw a decline, albeit smaller at over 3%, following Eli Lilly’s report, indicating that pressures might be affecting the entire sector. Both companies have faced rising consumer demand for weight-loss and diabetes treatments, leading to significant investments in expanding manufacturing capacity.
FAQ
What caused Eli Lilly’s stock to tumble?
Eli Lilly’s stock tumbled after the company reported third-quarter earnings that missed Wall Street expectations and subsequently slashed its profit forecast for 2024. Key drugs like Mounjaro and Zepbound experienced lower-than-expected sales, leading to investor dissatisfaction.
How did Eli Lilly’s quarterly revenue compare to analyst expectations?
Eli Lilly reported a quarterly revenue of .44 billion, which was a 20% increase year over year but fell short of the .09 billion revenue mark expected by analysts.
What were the earnings per share (EPS) for Eli Lilly in the third quarter?
Eli Lilly reported adjusted earnings per share of
FAQ
What caused Eli Lilly’s stock to tumble?
Eli Lilly’s stock tumbled after the company reported third-quarter earnings that missed Wall Street expectations and subsequently slashed its profit forecast for 2024. Key drugs like Mounjaro and Zepbound experienced lower-than-expected sales, leading to investor dissatisfaction.
How did Eli Lilly’s quarterly revenue compare to analyst expectations?
Eli Lilly reported a quarterly revenue of $11.44 billion, which was a 20% increase year over year but fell short of the $12.09 billion revenue mark expected by analysts.
What were the earnings per share (EPS) for Eli Lilly in the third quarter?
Eli Lilly reported adjusted earnings per share of $1.18, which was below the anticipated $1.45 per share.
What factors contributed to the revenue disappointment for Eli Lilly?
The revenue disappointment was driven by lower-than-expected sales of key drugs Mounjaro and Zepbound, inventory reductions by U.S. pharmaceutical wholesalers, and supply chain challenges.
What impact did the financial results have on Eli Lilly’s stock price?
Following the release of their third-quarter financial results, Eli Lilly’s stock price fell by 6% to $846.56 in midday trading, and experienced a 9% drop before the market bell on the day of the announcement.
How did the missed estimates affect the broader pharmaceutical industry and biotech stocks?
Eli Lilly’s financial disappointment raised concerns about similar issues across the biotech sector, potentially impacting investor sentiment and the performance of industry-related stocks.
What changes did Eli Lilly make to its profit forecast for 2024?
Eli Lilly cut its earnings guidance for 2024, predicting adjusted earnings to range between $13.02 and $13.52 per share, down from the previously optimistic forecast of more than $16 per share.
How did analysts react to Eli Lilly’s revised earnings guidance?
Analysts had mixed reactions to the revised earnings guidance, with some maintaining a positive outlook on the stock despite the adjusted, lower forecast.
How does Eli Lilly’s financial performance compare to its competitor Novo Nordisk?
Novo Nordisk’s shares also saw a decline, albeit smaller at over 3%, following Eli Lilly’s report, indicating that pressures might be affecting the entire sector. Both companies have faced rising consumer demand for weight-loss and diabetes treatments, leading to significant investments in expanding manufacturing capacity.
.18, which was below the anticipated
FAQ
What caused Eli Lilly’s stock to tumble?
Eli Lilly’s stock tumbled after the company reported third-quarter earnings that missed Wall Street expectations and subsequently slashed its profit forecast for 2024. Key drugs like Mounjaro and Zepbound experienced lower-than-expected sales, leading to investor dissatisfaction.
How did Eli Lilly’s quarterly revenue compare to analyst expectations?
Eli Lilly reported a quarterly revenue of $11.44 billion, which was a 20% increase year over year but fell short of the $12.09 billion revenue mark expected by analysts.
What were the earnings per share (EPS) for Eli Lilly in the third quarter?
Eli Lilly reported adjusted earnings per share of $1.18, which was below the anticipated $1.45 per share.
What factors contributed to the revenue disappointment for Eli Lilly?
The revenue disappointment was driven by lower-than-expected sales of key drugs Mounjaro and Zepbound, inventory reductions by U.S. pharmaceutical wholesalers, and supply chain challenges.
What impact did the financial results have on Eli Lilly’s stock price?
Following the release of their third-quarter financial results, Eli Lilly’s stock price fell by 6% to $846.56 in midday trading, and experienced a 9% drop before the market bell on the day of the announcement.
How did the missed estimates affect the broader pharmaceutical industry and biotech stocks?
Eli Lilly’s financial disappointment raised concerns about similar issues across the biotech sector, potentially impacting investor sentiment and the performance of industry-related stocks.
What changes did Eli Lilly make to its profit forecast for 2024?
Eli Lilly cut its earnings guidance for 2024, predicting adjusted earnings to range between $13.02 and $13.52 per share, down from the previously optimistic forecast of more than $16 per share.
How did analysts react to Eli Lilly’s revised earnings guidance?
Analysts had mixed reactions to the revised earnings guidance, with some maintaining a positive outlook on the stock despite the adjusted, lower forecast.
How does Eli Lilly’s financial performance compare to its competitor Novo Nordisk?
Novo Nordisk’s shares also saw a decline, albeit smaller at over 3%, following Eli Lilly’s report, indicating that pressures might be affecting the entire sector. Both companies have faced rising consumer demand for weight-loss and diabetes treatments, leading to significant investments in expanding manufacturing capacity.
.45 per share.
What factors contributed to the revenue disappointment for Eli Lilly?
The revenue disappointment was driven by lower-than-expected sales of key drugs Mounjaro and Zepbound, inventory reductions by U.S. pharmaceutical wholesalers, and supply chain challenges.
What impact did the financial results have on Eli Lilly’s stock price?
Following the release of their third-quarter financial results, Eli Lilly’s stock price fell by 6% to 6.56 in midday trading, and experienced a 9% drop before the market bell on the day of the announcement.
How did the missed estimates affect the broader pharmaceutical industry and biotech stocks?
Eli Lilly’s financial disappointment raised concerns about similar issues across the biotech sector, potentially impacting investor sentiment and the performance of industry-related stocks.
What changes did Eli Lilly make to its profit forecast for 2024?
Eli Lilly cut its earnings guidance for 2024, predicting adjusted earnings to range between .02 and .52 per share, down from the previously optimistic forecast of more than per share.
How did analysts react to Eli Lilly’s revised earnings guidance?
Analysts had mixed reactions to the revised earnings guidance, with some maintaining a positive outlook on the stock despite the adjusted, lower forecast.
How does Eli Lilly’s financial performance compare to its competitor Novo Nordisk?
Novo Nordisk’s shares also saw a decline, albeit smaller at over 3%, following Eli Lilly’s report, indicating that pressures might be affecting the entire sector. Both companies have faced rising consumer demand for weight-loss and diabetes treatments, leading to significant investments in expanding manufacturing capacity.
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