Eli Lilly (LLY) $790 Pre-Market – Up 6% – We’ve had a Buy on it and will continue to add on declines.
Lilly posted great results, but more importantly raised 2024 guidance by $2Bn (5-6%), leading to the pre-market jump! Obesity drugs have a huge demand, which they’re struggling to fill.
Eli Lilly press release (NYSE: LLY): Q1 Non-GAAP EPS of $2.58 beats by $0.09.
Revenue of $8.77B (+26.0% Y/Y) misses by $160M.
Revenue in Q1 2024 increased by 26%, driven by Mounjaro, Zepbound, Verzenio and Jardiance.
2024 full-year revenue guidance raised by $2.0 billion; reported EPS guidance raised $1.25 to be in the range of $13.05 to $13.55 and non-GAAP EPS guidance raised $1.30 to be in the range of $13.50 to $14.00 vs $12.46 Consensus.