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Eli Lilly Earnings: LLY Stock Leaps 2% on Q1 Beat

Eli Lilly (NYSE:LLY) earnings for first quarter of 2020 have LLY stock up on Thursday. That’s thanks to its adjusted earnings per share (EPS) of $1.75 beating out Wall Street’s estimate of $1.48. The American pharmaceutical company’s revenue of $5.86 billion also comes in above analysts’ estimates of $5.51 billion.

Eli Lilly Earnings: LLY Stock Leaps 2% on Q1 Beat

Source: Jonathan Weiss / Shutterstock.com

Here are some additional highlights from the most recent Eli Lilly earnings report.

  • Adjusted per-share earnings are up 31.58% from $1.33 during the same time last year.
  • Revenue is sitting 15.13% higher than the $5.09 billion from the first quarter of 2019.
  • Operating income of $1.59 billion is a 146.47% increase year-over-year from $645.1 million.
  • Net income for the quarter comes in at $1.46 billion.
  • That’s a 160.2% jump over the $561.1 million reported by the company in the same period of the year prior.

Josh Smiley, CEO of Eli Lilly, said this about the company’s earnings:

“Lilly exited 2019 with strong revenue growth and margin expansion, driven by the uptake of our newer medicines. That momentum continued in Q1 2020 and was augmented by higher patient and supply chain purchasing due to the COVID-19 pandemic.”

The Eli Lilly earnings report includes updated guidance for 2020. This has it expecting adjusted EPS to range from $6.70 to $6.90. For comparison, Wall Street is expecting adjusted EPS of $6.73 for the year.

LLY stock was up 2..05% as of Thursday afternoon.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2020/04/eli-lilly-earnings-boost-lly-stock-up/.

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