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Jun 30, 2024
Eli Lilly Q2 2024 Earnings Report
Eli Lilly's financial performance in Q2 2024 was strong, driven by key products and strategic advancements.
Key Takeaways
Eli Lilly reported a strong Q2 2024, with revenue increasing by 36% to $11.30 billion, driven by Mounjaro, Zepbound, and Verzenio. EPS increased by 68% to $3.28 on a reported basis and by 86% to $3.92 on a non-GAAP basis. The company raised its full-year revenue guidance by $3 billion and EPS guidance accordingly.
Revenue increased by 36%, driven by Mounjaro, Zepbound, and Verzenio.
EPS increased by 68% to $3.28 on a reported basis and 86% to $3.92 on a non-GAAP basis.
Full-year revenue guidance raised by $3 billion.
Pipeline progress included approval of Kisunla in the U.S. for Alzheimer’s disease and Jaypirca in Japan for relapsed or refractory mantle cell lymphoma.
Eli Lilly
Eli Lilly
Eli Lilly Revenue by Segment
Eli Lilly Revenue by Geographic Location
Revenue by Segment
Mounjaro Revenue
CapyFin.comZepbound Revenue
CapyFin.comVerzenio Revenue
CapyFin.comRevenue by Geographic Location
U.S. Revenue
CapyFin.comOutside U.S. Revenue
CapyFin.com Forward Guidance
Lilly raised its 2024 full-year revenue guidance by $3.0 billion to a range of $45.4 billion to $46.6 billion and increased EPS guidance to $15.10-$15.60 (reported) and $16.10-$16.60 (non-GAAP).
Positive Outlook
- Strong performance of Mounjaro and Zepbound
- Improved clarity into the timing and pace of production expansions
- Improved clarity of planned Mounjaro launches outside the U.S.
- Achieved a number of supply-related milestones in Q2 2024
- Increased confidence regarding production expectations for the rest of the year.
Challenges Ahead
- Includes asset impairment, restructuring and other special charges of $435 million related to anticipated litigation payments.
- Other income (expense) guidance is now expected to be a range of ($525) to ($425) million of expense on a reported basis and ($400) to ($300) million of expense on a non-GAAP basis, both reflecting lower expected net interest expense.
- Reported guidance reflects net losses on investments in equity securities through Q2 2024.
- Tax rate guidance is now expected to be approximately 15% on both a reported and non-GAAP basis, driven by changes in the company's forecasted mix of earnings in higher tax jurisdictions.
- Guidance does not include Acquired IPR&D either incurred, or expected to be incurred, after Q2 2024.
Revenue & Expenses
Visualization of income flow from segment revenue to net income