https://assets.capyfin.com/instruments/678fdc13234e27009c5d5842.png avatar
Eli Lilly
🇺🇸 NYSE:LLY
View Company
OverviewEarningsDividends
•
Jun 30, 2023

Eli Lilly Q2 2023 Earnings Report

Eli Lilly's financial results in Q2 2023 were marked by accelerating revenue growth and key pipeline advancements.

Key Takeaways

Eli Lilly's Q2 2023 financial performance was strong, with a 28% increase in revenue driven by volume growth from key products like Mounjaro, Verzenio, Jardiance, and Taltz, as well as revenue from the sale of rights for Baqsimi. The company also saw significant pipeline progress and business development activity.

Revenue in Q2 2023 increased 28%, driven by volume growth from Mounjaro, Verzenio, Jardiance, and Taltz, and the sale of rights for Baqsimi.

New Products contributed $1.00 billion to revenue in Q2 2023, led by Mounjaro, while Growth Products revenue increased 16% to $4.93 billion.

Q2 2023 EPS increased 86% to $1.95 on a reported basis and increased 69% to $2.11 on a non-GAAP basis, both inclusive of $0.43 of EPS associated with the sale of rights for Baqsimi, as well as $0.09 of acquired IPR&D charges.

2023 reported EPS guidance raised $1.02 to the range of $9.20 to $9.40 and non-GAAP EPS guidance raised $1.05 to the range of $9.70 to $9.90.

Total Revenue
$8.31B
Previous year: $6.49B
+28.1%
EPS
$2.11
Previous year: $1.25
+68.8%
Gross Profit
$6.5B
Previous year: $5.06B
+28.5%
Cash and Equivalents
$2.69B
Previous year: $2.62B
+2.7%
Total Assets
$54.8B
Previous year: $47.1B
+16.5%

Eli Lilly

Eli Lilly

Eli Lilly Revenue by Segment

Eli Lilly Revenue by Geographic Location

Forward Guidance

The company updated its 2023 financial guidance on both a reported and non-GAAP basis. Revenue guidance increased by $2.2 billion to the range of $33.4 to $33.9 billion. EPS guidance increased to the range of $9.20 to $9.40 on a reported basis and $9.70 to $9.90 on a non-GAAP basis.

Positive Outlook

  • Revenue guidance increased by $2.2 billion to the range of $33.4 to $33.9 billion.
  • Gross margin as a percent of revenue guidance increased 1% on both a reported and non-GAAP basis to approximately 78% and 80%, respectively.
  • The company's guidance for marketing, selling and administrative expenses increased by $200 million to the range of $7.2 to $7.4 billion.
  • Research and development expenses guidance increased by $600 million to the range of $8.9 to $9.1 billion.
  • EPS guidance increased to the range of $9.20 to $9.40 on a reported basis and $9.70 to $9.90 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