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Sep 30, 2020
Eli Lilly Q3 2020 Earnings Report
Eli Lilly reported solid financial results in Q3 2020, driven by volume-based revenue growth from key growth products.
Key Takeaways
Eli Lilly's Q3 2020 revenue increased by 5% to $5.741 billion, driven by a 9% increase in volume. EPS decreased to $1.33 on a reported basis and increased to $1.54 on a non-GAAP basis. The company continues to advance the development of potential therapeutics for COVID-19.
Revenue in Q3 2020 increased 5 percent, driven by volume growth of 9 percent.
Key growth products launched since 2014 contributed nearly 9 percentage points of revenue growth and represented approximately 52 percent of total revenue for the quarter.
Lilly continues to rapidly advance the development of potential therapeutics for the treatment of COVID-19.
Third-quarter 2020 EPS decreased to $1.33 on a reported basis and increased to $1.54 on a non-GAAP basis.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The company has updated certain elements of its 2020 financial guidance to reflect management's current expectations for underlying business performance. Earnings per share for 2020 are now expected to be in the range of $6.20 to $6.40 on a reported basis and are still expected to be in the range of $7.20 to $7.40 on a non-GAAP basis.
Positive Outlook
- Healthcare activity will continue the positive trends seen in the third quarter of 2020, returning to historical levels
- New patient prescriptions will continue to improve in the U.S.
- Pricing headwinds from increased utilization of patient affordability programs and changes in segment mix due to increased U.S. unemployment will continue to be modest
- Promotional spend will constitute a mix of in-person customer interactions, direct-to-consumer advertising, and investments in digital promotion.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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