Eli Lilly’s Q3 revenue surged 39% YoY—far exceeding expectations—with GLP-1 drugs contributing over 60% of revenue; the company raised its full-year guidance for the third time in 2024 | Caifubaiwen

Eli Lilly delivered a Q3 performance far surpassing Wall Street expectations, driven by robust demand for its weight-loss and diabetes medications, and once again raised its full-year outlook—further cementing its leadership position in the global GLP-1 drug market. The company reported Q3 revenue of $24.4 billion, up 39% year-on-year (YoY), significantly exceeding analysts’ average forecast of $22.5 billion; adjusted earnings per share (EPS) came in at $7.48, substantially higher than the expected $5.59. Boosted by these results, Eli Lilly’s stock rose 3.7% in Thursday’s pre-market session, extending its year-to-date gain to approximately 20%. Lilly raised its full-year revenue guidance to $91–92 billion, up from the prior range of $85–87 billion—marking its third upward revision this year. Meanwhile, due to acquisition-related expenses incurred recently, the company slightly lowered its adjusted EPS guidance to $35–36. Pre-market shares rose 4.3% following the announcement. Mounjaro and Zepbound drive growth—accounting for over 60% of total revenue The core driver behind Q3 performance was its two blockbuster GLP-1 drugs. Diabetes treatment Mounjaro generated $10.72 billion in revenue, up 65% YoY—exceeding the market expectation of $9.95 billion; weight-loss drug Zepbound posted $5.35 billion in revenue, an 8.6% increase from last quarter and also above the anticipated $5.01 billion. Together, these two products accounted for a staggering 66% of Lilly’s total revenue. Zepbound’s strong performance was partly fueled by a major shift in U.S. Medicare policy: effective July 1, 2024, Medicare covered weight-loss medications for the first time. According to Lilly, approximately 500,000 patients are currently accessing Foundayo or Zepbound through the so-called 'Bridge Program.' Earlier this week, Jefferies analyst Akash Tewari estimated in a research note that this program could contribute roughly $4 billion in revenue to Lilly by year-end. Ilya Yuffa, President of Global Markets at Lilly, stated at Morgan Stanley’s Global Healthcare Conference last month: 'The rollout of the Bridge Program within Medicare may be the single most important driver for improving patient access.' Oral weight-loss drug Foundayo underperforms in early launch

Demand for weight-loss drugs continues to surge; Eli Lilly’s Q2 revenue jumps 48% YoY, and full-year revenue guidance is raised to $85–87 billion | Caifubaiwen

Fueled by surging demand for weight-loss and diabetes medications, Eli Lilly posted substantial quarterly revenue growth—exceeding market expectations—and raised its full-year revenue guidance. Key next-generation GLP-1 candidates also achieved critical milestones, as Lilly accelerates the construction of a long-term growth trajectory spanning weight management, metabolic diseases, and innovative therapies. On August 5, Lilly released its Q2 2024 financial results. The company reported quarterly revenue of $22.97 billion, up 48% YoY—surpassing the consensus estimate of $20.59 billion; non-GAAP adjusted earnings per share (EPS) reached $8.38, up 33% YoY and far exceeding analysts’ forecast of $6.31. Net income totaled $7.1 billion, compared to $5.66 billion in the same period last year. Impacted by acquisition-related expenses, GAAP EPS for the quarter stood at $7.94—including $3.03 per share in transaction-related costs. After excluding one-time items such as intangible asset valuation adjustments, adjusted EPS reached $8.38.

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Eli Lilly raised its full-year revenue forecast to $91-$92 billion driven by surging GLP-1 weight-loss drug sales, beating Q3 earnings expectations despite trimming profit guidance due to acquisition charges.

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