Eli Lilly Q4 2024 Earnings Report

Key Takeaways

Lilly reported strong Q4 2024 results with a 45% increase in revenue to $13.53 billion, driven by volume growth from Mounjaro and Zepbound. EPS surged 102% to $4.88, while non-GAAP EPS increased 114% to $5.32. Net income more than doubled year-over-year.

Total Revenue

$13.5B

Previous year: $9.35B

+44.7%

EPS

$5.32

Previous year: $2.49

+113.7%

Revenue change due to volume

48%

Previous year: 11%

+336.4%

Revenue change due to price

-4%

Previous year: 16%

-125.0%

Gross margin

82.2%

Gross Profit

$11.1B

Previous year: $7.69B

+44.6%

Eli Lilly Revenue

Eli Lilly EPS

Eli Lilly Revenue by Segment

Eli Lilly Revenue by Geographic Location

Forward Guidance

Lilly expects continued strong revenue growth in 2025, driven by new product launches and expanded manufacturing capacity.

Positive Outlook

Projected revenue growth to $58B-$61B in 2025
Expected EPS range of $22.05-$23.55 on a reported basis
Continued strong demand for Mounjaro and Zepbound
Significant investment in manufacturing expansion
Potential new product launches in 2025

Challenges Ahead

Higher interest expenses expected in 2025
Tax rate expected to rise to 16%
Continued pricing pressures on key drugs
Increased competition in the obesity and diabetes market
Dependency on regulatory approvals for pipeline success

Revenue & Expenses

Visualization of income flow from segment revenue to net income