Eli Lilly (LLY) Stock Falls 10% as Company Lowers Profit and Revenue Outlook Amid Q3 2024 Earnings Miss

By
On:

LLY Stock: Eli Lilly (NYSE: LLY) shares dropped by 10% following the company’s Q3 2024 earnings miss and a reduced profit outlook for the year. The pharmaceutical company reported adjusted earnings of $1.18 per share, falling short of analysts’ expectations of $1.47, while revenue reached $11.44 billion compared to the forecasted $12.11 billion.

Lilly has lowered its full-year adjusted EPS guidance to $13.02-$13.52, down from the previous $16.10-$16.60, with revenue expected between $45.4 billion and $46 billion.

Lilly’s incretin drugs, Zepbound and Mounjaro, continued to drive revenue growth, though supply issues impacted Q3 sales. New approvals, including Ebglyss for atopic dermatitis and Kisunla for early Alzheimer’s in Japan, highlighted the company’s expanding treatment portfolio.

CEO David Ricks noted that Q3 revenue grew 42% after excluding divestitures, with strong performance in oncology, immunology, and neuroscience. Despite the stock decline, Lilly’s robust clinical pipeline and strategic investments are expected to support long-term growth.

Disclaimer: This article is for informational purposes only and should not be considered financial advice. Please consult a qualified financial advisor or conduct your own research before making investment decisions.

Halie Heaney

Halie Heaney is an accomplished author at SpeaksLY, specializing in international news across diverse categories. With a passion for delivering insightful global stories, she brings a unique perspective to current events and world affairs.

For Feedback - feedback@speaks.co.in

Leave a Comment