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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.
Eli Lilly
Eli Lilly
Eli Lilly Revenue by Segment
Eli Lilly Revenue by Geographic Location
Revenue by Segment
Verzenio Revenue
CapyFin.comRevenue by Geographic Location
U.S. Revenue
CapyFin.comOutside U.S. Revenue
CapyFin.com 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.