Lilly Reports First-Quarter 2023 Financial Results, Highlights Continued Core Business Growth and Pipeline Momentum Revenue in Q1 2023 decreased 11% driven by a $1.47 billion decline in revenue from COVID-19 antibodies. The dark blue line represents the company's actual earnings per share. Lilly Reports Solid Third-Quarter 2022 - Eli Lilly and Company You should not place undue reliance on forward-looking statements, which speak only as of the date of this release. "2023 is an inflection point for Lilly - a chance to expand our impact on patients and growth potential as an R&D-driven biopharma company," said David A. Ricks, Lilly's chair and CEO. Other income (expense) guidance remains unchanged at a range of ($200) to ($100) million of expense on both a reported and non-GAAP basis. AMC: Is a Big Squeeze in the Coming Attractions? Reported results were prepared in accordance with U.S. generally accepted accounting principles (GAAP) and include all revenue and expenses recognized during the periods. Me And All Hotel Dusseldorf Oberkassel - Tripadvisor "We also announced important price reductions to make insulin more affordable and accessible for people with diabetes, as well as a significant investment in manufacturing facilities. Call (800) 545-5979, Lilly Reports Fourth-Quarter 2022 Financial Results, Core Business Growth and Pipeline Advancements Support Strong Long-Term Outlook, The company's 2023 financial guidance does not include any acquired IPR&D and, The company uses non-GAAP financial measures that differ from financial statements reported in conformity with, Adjustments to certain GAAP reported measures for the three months ended, Asset impairment, restructuring and other, Adjustments to certain GAAP reported measures for the twelve months ended, investor.lilly.com/webcasts-and-presentations, https://www.prnewswire.com/news-releases/lilly-reports-fourth-quarter-2022-financial-results-core-business-growth-and-pipeline-advancements-support-strong-long-term-outlook-301736812.html. If you use our chart images on your site or blog, we ask that you provide attribution via a "dofollow" link back to this page. This is also considered the "top-line" of the income statement. A 10% revenue growth, excluding the Covid-19 antibodies, was recorded during this period. In Q4 2022, net income and earnings per share (EPS) were $1.94 billion and $2.14, respectively, compared with $1.73billion and $1.90 in Q4 2021. ISRG Stock Sinks After Strong Earnings: Is the Growth Priced In? Jardiance is part of the company's alliance with Boehringer Ingelheim. Revenue outside the U.S. was $249.2 million, an increase of 30%, primarily driven by increased demand, partially offset by the unfavorable impact of foreign exchange rates. The conference call will begin at 10 a.m. Eastern time today and will be available for replay via the website. Eli Lilly and Company has confirmed that its next quarterly earnings data will be published on Tuesday, August 8th, 2023. The increase in other income (expense) was primarily driven by net gains on investments in equity securities in Q4 2022 compared with net losses on investments in equity securities in Q4 2021. Net losses on investments in equity securities(1), Asset impairment, restructuring, and other special charges, Acquired IPR&D and development milestone charges(2). Enter your email address below to receive the latest headlines and analysts' recommendations for your stocks with our free daily email newsletter. Revenue outside the U.S. decreased 24% to $189.3 million, primarily driven by lower realized prices due to the impact of VBP in China. This press release contains management's current intentions and expectations for the future, all of which are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Learn more on analysts' earnings estimate vs. LLY's actual earnings. F-LLY, Cautionary Statement Regarding Forward-Looking Statements. The company's 2022 financial guidance reflects adjustments shown in the reconciliation table below. Learn more on analysts' earnings estimate vs. LLY's actual earnings. On a non-GAAP basis, Q1 2023 net income and EPS were $1.46 billion and $1.62, respectively, compared with $2.37 billion and $2.62 in Q1 2022. Our daily ratings and market update email newsletter. Revenue outside the U.S. was $162.3 million, a decrease of 26%, driven by the unfavorable impact of foreign exchange rates and a decline in utilization for COVID-19 treatment. As previously announced, investors and the general public can access a live webcast of the Q1 2023 financial results conference call through a link on Lilly's website at investor.lilly.com/webcasts-and-presentations. The following table summarizes the company's updated 2023 financial guidance: Non-GAAP guidance reflects adjustments presented in the earnings per share table above. The tax rate increase also includes the impact from recently enacted Puerto Rico legislation that will become effective starting in 2023, as well as the impact from an expected increase in the proportion of earnings in higher tax jurisdictions. In-depth profiles and analysis for 20,000 public companies. Now $104 (Was $392) on Tripadvisor: Carathotel Dusseldorf City, Dusseldorf. Net losses on investments in equity securities (Other income/expense). (i) Lilly defines New Products as select products launched since 2022, which currently consist of Jaypirca and Mounjaro. The company's non-GAAP measures adjust reported results to exclude amortization of intangibles and other items that are typically highly variable, difficult to predict, and of a size that could have a substantial impact on the company's reported operations for a period. Beginning in 2022, presentations of non-GAAP financial measures do not include adjustments for upfront charges and development milestones related to acquired IPR&D. Real-time analyst ratings, insider transactions, earnings data, and more. Certain financial information for 2022 and 2021 is presented on both a reported and a non-GAAP basis. Revenue outside the U.S. was $45.6 million, an increase of 11%, primarily driven by increased volume. 3 Housing Stocks to Avoid as Interest Rates Rise. The conference call will begin at 10 a.m. Eastern time today and will be available for replay via the website. Lilly unites caring with discovery to create medicines that make life better for people around the world. Check-in at 3 pm but check-out at 12, but they are starting around 7 am to clean the rooms. Non-GAAP financial measures for Q4 and fiscal year 2021 have been adjusted to reflect this updated presentation. Listen to Conference Call, The conference call transcript for Eli Lilly and Company's latest earnings report can be read online. . The chart below shows up to four years of a company's earnings history. And one small company is building them for the Pentagon! The increase in volume outside the U.S. was largely driven by Verzenio and Jardiance and, to a lesser extent, Taltz, Trulicity and Mounjaro, partially offset by a decrease in Cialis volume due to the Q1 2022 sales of the company's rights to Cialis in Taiwan and Saudi Arabia. Competitors and similar companies . Eli Lilly and Company (LLY) Earnings Date, Estimates & Call Transcripts $463.82 +10.26 (+2.26%) (As of 07/20/2023 ET) Compare Today's Range $455.00 $465.22 50-Day Range $423.21 $468.98 52-Week Range $296.32 $469.87 Volume 2.62 million shs Average Volume 3.06 million shs Market Capitalization $440.29 billion P/E Ratio 73.74 Dividend Yield Research and development expenses are expected to be in the range of $8.2 billion to $8.4 billion. In addition to the tremendous on-going launch of Mounjaro in type 2 diabetes and expected future opportunities to treat obesity and obesity-related metabolic outcomes with tirzepatide, we plan to invest in our four significant potential new launches next year. Eli Lilly & Co. revenue increased from 2020 to 2021 and from 2021 to 2022. Eli Lilly cuts price of insulin, capping drug at $35 per month : NPR News provided by Eli Lilly and Company 02 Feb, 2023, 06:45 ET Revenue in Q4 2022 decreased 9%. CARATHOTEL DUSSELDORF CITY $104 ($392) - Updated 2023 Prices Marketing, selling and administrative expenses increased 3% to $1.64 billion in Q4 2022, primarily driven by costs associated with launches of new products and indications, partially offset by the favorable impact of foreign exchange rates. Call (800) 545-5979, Lilly Announces 2023 Financial Guidance, Plans to Launch up to Four New Medicines, Net losses on investments in equity securities, Acquired IPR&D and development milestone charges, The company's 2023 financial guidance does not include any impact from potential, investor.lilly.com/webcasts-and-presentations, https://www.prnewswire.com/news-releases/lilly-announces-2023-financial-guidance-plans-to-launch-up-to-four-new-medicines-301701053.html. To learn more, visitLilly.com and Lilly.com/newsroom. The company has updated its tax rate and EPS guidance and reaffirmed all other elements of its 2023 financial guidance. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio. from 8 AM - 9 PM ET. Eli Lilly has 5 employees across 49 locations and $28.54 b in annual revenue in FY 2022. Lilly recalculates current period figures on a constant currency basis by keeping constant the exchange rates from the base period. Eli Lilly Revenue 1991-2023 - Stock Analysis The company usesnon-GAAPfinancial measures that differ from financial statements reported in conformity with U.S. generally accepted accounting principles ("GAAP"), and this press release and related materials includes a description of certainnon-GAAPitems that may affect the company's financial expectations for 2022 and 2023. We expect to capitalize on this momentum and deliver mid-teen revenue growth for our core business in 2023 while remaining committed to investing in innovation, late-stage opportunities, manufacturing capacity, and our people.". (Dollars in millions, except per share data), Asset impairment, restructuring andother special charges, Weighted-average shares outstanding(thousands) - diluted, Reconciliation of GAAP Reported to Selected Non-GAAP Adjusted Information (Unaudited), Asset impairment,restructuring and otherspecial charges. Revenue outside the U.S. was $43.7 million, an increase of 8%, primarily driven by increased volume, partially offset by the unfavorable impact of foreign exchange rates and lower realized prices. That includes delivering innovative clinical trials that reflect the diversity of our world and working to ensure our medicines are accessible and affordable. The increase in other income (expense) was primarily driven by net losses on investments in equity securities in Q1 2022. In Q4 2022, the company recognized acquired in-process research and development (IPR&D)and development milestone charges of $240.1 million. INDIANAPOLIS, Dec. 13, 2022 /PRNewswire/ -- Eli Lilly and Company (NYSE: LLY) today announced its 2023 financial guidance, highlighted by expected volume-based revenue growth and increased investments to maximize future value. The chart below shows up to four years of a company's revenue history. U.S. revenue was $552.7 million, an increaseof 119%, primarily driven by increased demand. In Q1 2023, research and development expenses increased 23% to $1.99 billion, or 29% of revenue, primarily driven by higher development expenses for late-stage assets. (2) The company's guidance does not include any acquired IPR&D or development milestone charges incurred during Q4 2022. U.S. revenue increased 2% to $312.2million, driven by increased demand, largely offset by lower realized prices. The company believes that thesenon-GAAPfinancial measures provide useful information to investors in evaluating the company's performance. EPS Shares Outstanding Eli Lilly annual/quarterly revenue history and growth rate from 2010 to 2023. Excluding revenue from COVID-19 antibodies and Alimta, Q1 2022 revenue grew 10%. . We've been pioneering life-changing discoveries for nearly 150 years, and today our medicines help more than 47million people across the globe. "We continue to innovate and are beginning new pivotal studies for the next group of potential breakthrough treatments. The company's 2023 financial guidance does not include any acquired IPR&D anddevelopment milestone charges either incurred or that may potentially be incurred in 2023. The conference call for Eli Lilly and Company's latest earnings report can be listened to online. News provided by Eli Lilly and Company 27 Apr, 2023, 06:45 ET Revenue in Q1 2023 decreased 11% driven by a $1.47 billion decline in revenue from COVID-19 antibodies. On a non-GAAP basis, Q1 2023 gross margin decreased 8% to $5.46 billion. Eli Lilly and Company has reported worldwide revenue of $28.32bn for full-year 2021, indicating a 15% rise against $24.54bn for full-year 2020. They can assist in making meaningful period-over-period comparisons and in identifying operating trends that would otherwise be masked or distorted by the items subject to the adjustments. This press release and related materials provide certain GAAP and non-GAAP figures excluding the impact of foreign exchange rates. Actual results may differ materially due to various factors. CBS News Reports: "It's an entirely new type of weapon." U.S. revenue was $536.4 million. That includes the type 2 diabetes medication Trulicity, which continues to grow at a double-digit clip and is on . The table above reflects only line items with non-GAAP adjustments. For the 12 months ending on 31 December 2021, Covid-19 antibodies . The words "estimate", "project", "intend", "expect", "believe", "target", "anticipate" and similar expressions are intended to identify forward-looking statements. Eli Lilly and Company (NYSE: LLY) today announced its 2023 financial guidance, highlighted by expected volume-based revenue growth and increased investments to maximize future value. Revenue in Q4 2022 decreased 9%. Eli Lilly & Co Stock Forecast & Predictions: 1Y Price Target $454.53 | Buy or Sell NYSE: LLY 2023 | WallStreetZen Eli Lilly & Co Stock Forecast, Predictions & Price Target Add to Watchlist Overview Forecast Earnings Dividend Ownership Analyst price target for LLY All Analysts Top Analysts Lilly reports as revenue royalties received on net sales of Jardiance. Non-GAAP measures reflect adjustments for the items described in the reconciliation tables later in the release. . Copyright 2023 Eli Lilly and Company. You have already added five stocks to your watchlist. Acquired IPR&D of $105 million in Q1 2023 has also been incorporated into guidance. The effective tax rate in Q1 2022 reflected the favorable tax impact of net investment losses on equity securities. Eli Lilly is one of the top global pharmaceutical companies and the world's largest . They can also assist in making meaningful period-over-period comparisons and in identifying operating trends that would otherwise be masked or distorted by the items subject to the adjustments. Eli Lilly and Company (NYSE: LLY) today announced its financial results for the first quarter of 2023. . Given the uncertainty as to whether any change to this provision will be enacted in 2023, the company has updated the tax rate guidance to be approximately 13% and 2023 EPS guidance has been increased to the range of $7.90 to $8.10 on a reported basis and $8.35 to $8.55 on a non-GAAP basis. Varna, Bulgaria 23 contributions 6 helpful votes " Not to book it. Eli Lilly expects solid profit growth in 2023 Last month, Eli Lilly released its updated guidance, which covers the year ahead. The non-GAAP measures are presented to provide additional insights into the underlying trends in the company's business. The company has updated certain elements of its 2023 financial guidance on both a reported and non-GAAP basis. How much profit does Eli Lilly and Company generate each year? The effective tax rate in Q4 2022 reflects the favorable tax impact of the implementation of the provision in the Tax Cuts and Jobs Act (the 2017 Tax Act) that requires capitalization and amortization of research and development expenses for tax purposes starting in 2022 and a net discrete tax benefit, partially offset by the tax impact of the mix of earnings in higher tax jurisdictions. Jardiance is part of the company's alliance with Boehringer Ingelheim. For Q4 2022, worldwide Taltz revenue increased 9% compared with Q4 2021 to $707.8million. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Third-party trademarks used herein are trademarks of their respective owners. The company reaffirmed its 2022 financial guidance, as set forth in the following table: Non-GAAP guidance reflects adjustments presented in the earnings per share table above. Get Eli Lilly and Company Earnings Alerts. For further detail on non-GAAP measures, see the reconciliation below as well as the "Reconciliation of GAAP Reported to Selected Non-GAAP Adjusted Information (Unaudited)" table later in this press release. For additional information about the factors that could cause actual results or events to differ materially from forward-looking statements, please see the company's latest Form 10-K and subsequent Forms 8-K and 10-Q filed with the SEC. The purchase of ImClone Systems brought with it cancer compound, Erbitux. Gross margin as a percent of revenue guidance remains unchanged on both a reported and non-GAAP basis at approximately 77% and 79%, respectively. 5th till 8th May 2023 - Dsseldorf Forum - Tripadvisor Eli Lilly Statistics and Revenue Totals (2023) - DMR [BREAKING] New "Living Missile" to Replace Nuclear Missiles. U.S. revenue was $256.7 million. Marketing, selling and administrative expenses for 2023 are expected to be in the range of $6.9 billion to $7.1 billion. U.S. revenue increased 51% to $363.1 million, primarily driven by increased demand and to a lesser extent, an increased Q4 2022 royalty from Boehringer Ingelheim for exceeding certain annual thresholds. The company's revenue fell 11% compared with the same quarter last year, due to a $1.5 billion decline. News Release - Eli Lilly and Company Gross margin decreased 3% to $5.75 billion in Q4 2022 compared with Q4 2021. The reported $1.62 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.73 by $0.11. Club name Eli Lilly is set for a solid 2023 - CNBC Guidance Eli Lilly expects full-year 2023 revenue to be in a range of $31.2 billion to $31.7 billion, up from its prior guidance of $30.3 billion to $30.8 billion. Please check your download folder. Reported results were prepared in accordance with U.S. generally accepted accounting principles (GAAP) and include all revenue and expenses recognized during the periods. Revenues measure the total amount of value that a company brings in during a certain period. Check Eli Lilly financial statements over time to gain insight into future company performance. Why Did Eli Lilly Stock Jump 15% in April? | The Motley Fool U.S. revenue decreased 41% to $42.3 million, driven by a decline in utilization for COVID-19 treatment, partially offset by increased utilization for the treatment of alopecia areata. Eli Lilly revenue for the quarter ending March 31, 2023 was, Eli Lilly revenue for the twelve months ending March 31, 2023 was. The effective tax rate in Q4 2021 reflected a net discrete tax benefit and the tax impact of acquired IPR&D and development milestone charges. We've been pioneering life-changing discoveries for nearly 150 years, and today our medicines help more than 47million people across the globe. For Q1 2023, worldwide Mounjaro revenue was $568.5 million. New Products contributed $573.6 million to revenue in Q1 2023. Marketing, selling and administrative expenses increased 12% to $1.75 billion in Q1 2023, primarily driven by costs associated with launches of new products and indications. Lilly Reports Fourth-Quarter 2022 Financial Results, Core Business A discussion of the non-GAAP financial measures is included below under "Reconciliation of GAAP Reported to Selected Non-GAAP Adjusted Information (Unaudited).". Eli Lilly ( LLY) stock surged Thursday after newcomer diabetes drug Mounjaro blew past sales projections and led to promising weight loss in a Phase 3 study. The company's worldwide Jardiance revenue for Q4 2022 was $612.3 million, an increase of 42% compared with Q4 2021. Eli Lilly's 2023 guidance: Up to 4 new drugs on the way - News Eli Lilly ( LLY. Excluding COVID-19 antibodies, revenue in Q1 2023 increased 10% and total worldwide volume increased 18%. The company expects continued volume and revenue decline for Alimta as a result of generic competition due to the loss of patent exclusivity in major markets. Other income (expense) is expected to be expense in the range of $100 million to $200 million on both a reported and non-GAAP basis. That includes delivering innovative clinical trials that reflect the diversity of our world and working to ensure our medicines are accessible and affordable. This growth is expected to be partially offset by lower revenue for Alimta due to its loss of patent exclusivity, no anticipated COVID-19 antibody revenue, and the continued negative impact of foreign exchange rates. See insights on Eli Lilly including office locations, competitors, revenue, financials, executives, subsidiaries and more at Craft. contact@marketbeat.com Revenue outside the U.S. increased 63% to $183.4 million, driven by approximately $130 million of one-time revenue associated with the sale of the company's rights to Alimta in Korea and Taiwan, partially offset by decreased demand due to generic competition, lower realized prices, and the unfavorable impact of foreign exchange rates. Gross margin as a percent of revenue for 2023 is expected to be approximately 77% on a reported basis and approximately 79% on a non-GAAP basis. More Eli Lilly statistics and facts than you will ever need to know including revenue, products and much more. Jordan Bishop; [emailprotected]; (317) 473-5712 (Media), Joe Fletcher; [emailprotected]; (317) 296-2884 (Investors). Get the Latest News and Ratings for Your Stocks. U.S. revenue remained relatively flat as increased demand was offset by lower realized prices. Alimta (pemetrexed disodium, Lilly)Baqsimi (glucagon, Lilly)Cyramza (ramucirumab, Lilly)Emgality (galcanezumab-gnlm, Lilly)Glyxambi (empagliflozin/linagliptin, Boehringer Ingelheim)Humalog (insulin lispro injection of recombinant DNA origin, Lilly)Jardiance (empagliflozin, Boehringer Ingelheim)JaypircaTM (pirtobrutinib, Lilly)Mounjaro (tirzepatide injection, Lilly)Olumiant (baricitinib, Lilly)Retevmo (selpercatinib, Lilly)Synjardy (empagliflozin/metformin, Boehringer Ingelheim)Taltz (ixekizumab, Lilly)Trijardy XR (empagliflozin/linagliptin/metformin hydrochloride extended release tablets, Boehringer Ingelheim)Trulicity (dulaglutide, Lilly)Tyvyt (sintilimab injection, Innovent)Verzenio (abemaciclib, Lilly)Zyprexa (olanzapine, Lilly). By signing up you agree to receive content from us. Among other things, they may help investors evaluate the company's ongoing operations. Lilly Reports First-Quarter 2023 Financial Results, Highlights Tyvyt is part of the company's alliance with Innovent. (2) Guidance does not include acquired IPR&D either incurred, or that may potentially be incurred, after Q1 2023. Earnings for Eli Lilly and Company are expected to grow by 38.50% in the coming year, from $8.78 to $12.16 per share. The acquisition of ICOS Corporation gave Lilly full control over erectile dysfunction drug, Cialis. Cision Distribution 888-776-0942 Eli Lilly revenue by segment 2020-2022 | Statista Excluding COVID-19 antibodies, revenue in Q4 2022 increased 5%, or 10% on a constant currency basis, driven by volume growth of key growth products, partially offset by lower Alimta revenue. Lilly recalculates current period figures on a constant currency basis by keeping constant the exchange rates from the base period. Outside of revenue from COVID-19 antibodies, which grew $660 million, revenue was driven by key growth products - consisting of Trulicity, Verzenio, Jardiance, Taltz, Olumiant, Emgality, Retevmo, Cyramza and Tyvyt - which contributed . Harnessing the power of biotechnology, chemistry and genetic medicine, our scientists are urgently advancing new discoveries to solve some of the world's most significant health challenges, redefining diabetes care, treating obesity and curtailing its most devastating long-term effects, advancing the fight against Alzheimer's disease, providing solutions to some of the most debilitating immune system disorders, and transforming the most difficult-to-treat cancers into manageable diseases. U.S. revenue was $461.1 million, an increaseof 53%, driven by increased demand, partially offset by customer buying patterns. U.S. revenue increased 43% to $329.4 million, primarily driven by increased demand. With limited patent expirations this decade, we believe these potential new medicines and the continued scaling of our key growth products will fuel our next wave of growth. The previous tax rate guidance of approximately 16% for 2023 assumed deferral or repeal of the 2017 Tax Act provision that requires capitalization of research and development expenses. Excluding COVID-19 antibodies, revenue in Q1 2023 increased 10%, driven by volume growth from Mounjaro, Trulicity, Verzenio . Eli Lilly gross profit for the quarter ending March 31, 2023 was $5.333B, a 7.05% decline year-over-year. Export data to Excel for your own analysis. Please check your download folder. Harnessing the power of biotechnology, chemistry and genetic medicine, our scientists are urgently advancing new discoveries to solve some of the world's most significant health challenges, redefining diabetes care, treating obesity and curtailing its most devastating long-term effects, advancing the fight against Alzheimer's disease, providing solutions to some of the most debilitating immune system disorders, and transforming the most difficult-to-treat cancers into manageable diseases. As previously announced, investors and the general public can access a live webcast of the Q4 2022 financial results conference call through a link on Lilly's website at investor.lilly.com/webcasts-and-presentations. The company will review potential key events for the upcoming year, including important data readouts for several investigational medicines in its clinical pipeline and the possibility of multiple regulatory submissions and approvals, in a call with investors today. Lilly has collaboration agreements with several companies including Incyte, Boehringer Ingelheim and Innovent Biologics among others. Exclude primarily the asset impairment, restructuring and other special charges primarily related to acquisition and integration costs associated with closing of the acquisition of Akouos, Inc. For Q4 2022, worldwide Alimta revenue decreased 46% compared with Q4 2021 to $236.6 million. In Q4 2021, the company recognized acquired IPR&Dand development milestone charges of $437.7 million, primarily related to a business development transaction with Foghorn Therapeutics Inc. Credit: Momoneymoproblemz / Wikimedia.