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Dec 31, 2022
Eli Lilly Q4 2022 Earnings Report
Eli Lilly reported a decrease in revenue but an increase in EPS on a reported basis for Q4 2022. The company highlighted pipeline advancements and key growth products driving revenue.
Key Takeaways
Eli Lilly's Q4 2022 results showed a 9% decrease in revenue, but excluding COVID-19 antibodies, revenue increased by 5%. EPS increased by 13% on a reported basis. The company is focusing on launching new medicines and advancing its pipeline.
Q4 2022 revenue decreased by 9%, but excluding COVID-19 antibodies, revenue increased by 5%.
Key growth products grew by 21% and represented 70% of revenue in Q4 2022.
Q4 2022 EPS increased 13% to $2.14 on a reported basis.
2023 EPS guidance updated to be in the range of $7.90 to $8.10 on a reported basis and $8.35 to $8.55 on a non-GAAP basis.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Lilly updated its 2023 financial guidance, increasing EPS guidance due to changes in the tax rate.
Positive Outlook
- Revenue guidance unchanged at $30.3 to $30.8 billion
- Gross Margin % of Revenue (reported) remains approximately 77%
- Gross Margin % of Revenue (non-GAAP) remains approximately 79%
- Marketing, Selling & Administrative expenses unchanged at $6.9 to $7.1 billion
- Research & Development expenses unchanged at $8.2 to $8.4 billion
Challenges Ahead
- Other Income/(Expense) unchanged at $(200) to $(100) million
- Tax Rate updated to approximately 13% (previously approximately 16%)
- Earnings per Share (reported) updated to $7.90 to $8.10 (previously $7.65 to $7.85)
- Earnings per Share (non-GAAP) updated to $8.35 to $8.55 (previously $8.10 to $8.30)
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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