Shares of Eli Lilly (LLY) fell in premarket trading Thursday after the pharmaceutical giant's lowered profit projections outweighed first-quarter results that came in above analysts' expectations.
The drugmaker posted adjusted earnings per share of $3.34 on revenue that increased 45% year-over-year to $12.73 billion. Analysts surveyed by Visible Alpha projected $3.25 and $12.62 billion, respectively.
Sales of Lilly's blockbuster weight-loss drugs Mounjaro and Zepbound rose to $3.84 billion and $2.31 billion, respectively. Mounjaro sales topped expectations of $3.76 billion and Zepbound fell just short of the $2.33 billion consensus.
Revenue Outlook Affirmed, Profit Forecasts Cut
Lilly affirmed its full-year revenue guidance, but lowered its profit forecasts. Last quarter, it said it expected 2025 revenue between $58.0 to $61.0 billion, with EPS from $22.05 to $23.55, and adjusted EPS of $22.50 to $24.00.
EPS is now forecast within a range of $20.17 to $21.67, while adjusted EPS is now projected at $20.78 to $22.28. The drugmaker said the reduction is due to "net losses on investments in equity securities," along with acquired in-process research and development (IPR&D) charges, which came in at about $1.57 billion in the first quarter.
https://finance.yahoo.com/news/eli-lilly-stock-slips-lowered-111022972.html
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