The Lilly Biotechnology Center in San Diego, California, on March 1, 2023.
Mike Blake | Reuters
Eli Lilly on Thursday reported mixed results for the fourth quarter as sales of its blockbuster weight loss Zepbound and diabetes drug Mounjaro soared but saw lower realized prices.
The figures were consistent with the preliminary results Eli Lilly shared in January, which disappointed investors. Eli Lilly had slashed its 2024 revenue guidance, as it said demand for its weight loss and diabetes drugs would not meet its lofty expectations.
The company’s quarterly earnings topped Wall Street estimates, but sales fell just short.
The pharmaceutical giant also issued fiscal 2025 profit guidance of $22.05 to $23.55 per share, which is in line with what analysts were expecting. Eli Lilly reiterated its fiscal 2025 sales guidance of $58 billion to $61 billion.
Here’s what Eli Lilly reported for the fourth quarter compared with what Wall Street was expecting, based on a survey of analysts by LSEG:
- Earnings per share: $5.32 adjusted vs. $4.95 expected
- Revenue: $13.53 billion vs. $13.57 billion expected
The company posted fourth-quarter revenue of $13.53 billion, up 45% from the same period a year ago.
The pharmaceutical giant booked net income of $4.41 billion, or $4.88 per share, for the fourth quarter. That compares with a profit of $2.19 billion, or $2.42 a share, a year earlier.
Excluding one-time items associated with the value of intangible assets and other adjustments, Eli Lilly posted earnings of $5.32 per share for the fourth quarter of 2024.
This story is developing. Please check back for updates.
