Investors Cheer Eli Lilly Earnings, Q4 Performance Surpasses Expectations Thanks To Strong Zepbound Launch, Surging Weight Loss Drug Sales
Portfolio Pulse from Vandana Singh
Eli Lilly's Q4 2023 earnings surpassed expectations with a 28% Y/Y revenue increase to $9.35 billion, driven by strong sales of Mounjaro and Zepbound. Adjusted EPS was $2.49, beating the $2.19 consensus. The company forecasts FY 2024 sales between $40.4 billion and $41.6 billion, exceeding the consensus of $39.14 billion, with growth primarily from new products. Despite robust demand, Eli Lilly anticipates intermittent delays in fulfilling Mounjaro orders due to manufacturing capacity constraints.
February 06, 2024 | 1:29 pm
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POSITIVE IMPACT
Eli Lilly's Q4 2023 earnings report showed significant revenue growth and an optimistic FY 2024 sales forecast, driven by strong sales of new products like Mounjaro and Zepbound. The company's shares rose 4.79% following the announcement.
Eli Lilly's better-than-expected Q4 earnings and optimistic FY 2024 sales forecast, particularly due to the success of new products, have positively impacted investor sentiment, leading to a significant increase in stock price. The company's acknowledgment of supply constraints for Mounjaro, however, introduces a note of caution, but the overall positive financial performance and future outlook outweigh these concerns.
CONFIDENCE 90
IMPORTANCE 95
RELEVANCE 100