https://assets.capyfin.com/instruments/678fdc13234e27009c5d5842.png avatar
Eli Lilly
🇺🇸 NYSE:LLY
View Company
OverviewEarningsDividends
•
Jun 30, 2021

Eli Lilly Q2 2021 Earnings Report

Reported strong second-quarter performance driven by volume growth and key product contributions.

Key Takeaways

Eli Lilly reported a strong second quarter in 2021, with revenue increasing by 23% driven by volume growth. Key growth products contributed significantly to revenue, and the company progressed its pipeline with positive data readouts and regulatory submissions. The company updated its 2021 financial guidance.

Revenue increased 23 percent, driven by volume growth of 22 percent.

Key growth products contributed 17 percentage points of revenue growth.

Positive data readouts were achieved for tirzepatide and Jardiance.

Plans to submit donanemab and tirzepatide to regulatory authorities by the end of 2021 were announced.

Total Revenue
$6.74B
Previous year: $5.5B
+22.6%
EPS
$1.87
Previous year: $1.89
-1.1%
Gross Profit
$4.79B
Previous year: $4.28B
+11.9%
Cash and Equivalents
$3.22B
Previous year: $2.37B
+36.1%
Total Assets
$47.8B
Previous year: $42B
+13.9%

Eli Lilly

Eli Lilly

Eli Lilly Revenue by Segment

Eli Lilly Revenue by Geographic Location

Forward Guidance

Eli Lilly has updated certain elements of its 2021 financial guidance on a reported basis. Earnings per share for 2021 are now expected to be in the range of $6.73 to $6.93 on a reported basis and remain in the range of $7.80 to $8.00 on a non-GAAP basis.

Positive Outlook

  • Revenue to be between $26.8 billion and $27.4 billion.
  • Increase of $200 million in estimated revenue from products in the company's core business.
  • Gross margin as a percent of revenue for 2021 is now expected to be approximately 75 percent on a reported basis
  • Other income (expense) for 2021 is now expected to be income in the range of $375 million to $475 million on a reported basis.
  • The 2021 effective tax rate is now expected to be approximately 12 percent on a reported basis

Challenges Ahead

  • Reduction in estimated revenue from COVID-19 therapies, which is now expected to be in the range of $1.0 billion to $1.1 billion.
  • Gross margin as a percent of revenue for 2021 is still expected to be approximately 79 percent on a non-GAAP basis.
  • Operating margin for 2021 is now expected to be approximately 24 percent on a reported basis
  • Other income (expense) for 2021 is now expected to be expense in the range of $100 million to $0 on a non-GAAP basis.
  • The 2021 effective tax rate is still expected to be approximately 13 percent on a non-GAAP basis.

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

View Eli Lilly