Global pharmaceutical company Eli Lilly (NYSE: LLY) will be announcing earnings results this Thursday before market open. Here’s what investors should know.
Eli Lilly beat analysts’ revenue expectations by 5.4% last quarter, reporting revenues of $15.56 billion, up 37.6% year on year. It was a very strong quarter for the company, with a solid beat of analysts’ revenue estimates and a beat of analysts’ EPS estimates.
Is Eli Lilly a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting Eli Lilly’s revenue to grow 40.4% year on year to $16.06 billion, improving from the 20.4% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $5.92 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Eli Lilly has missed Wall Street’s revenue estimates three times over the last two years.
With Eli Lilly being the first among its peers to report earnings this season, we don’t have anywhere else to look to get a hint at how this quarter will unravel for pharmaceuticals stocks. However, there has been positive investor sentiment in the segment, with share prices up 6.1% on average over the last month. Eli Lilly is up 12.6% during the same time and is heading into earnings with an average analyst price target of $898.04 (compared to the current share price of $818.01).
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