Eli Lilly Expects 2024 Sales Of $45.4B-$46B Versus Prior Guidance Of $45.4B-$46.6B And Consensus Of $46.24B
Portfolio Pulse from Benzinga Newsdesk
Eli Lilly has updated its 2024 financial guidance, lowering its revenue expectations to $45.4B-$46.0B from a previous range of $45.4B-$46.6B. The company is investing in tirzepatide supply and has adjusted its EPS guidance due to various charges, including the acquisition of Morphic Holding.
October 30, 2024 | 10:48 am
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Eli Lilly has revised its 2024 revenue guidance to $45.4B-$46.0B, down from $45.4B-$46.6B, and adjusted its EPS guidance due to acquisition charges. The company is investing in tirzepatide supply and balancing demand creation with production.
The revision of revenue guidance to a lower range and the reduction in EPS guidance due to acquisition charges are likely to have a negative short-term impact on Eli Lilly's stock price. The company's investments in tirzepatide supply and balancing demand creation with production are positive long-term strategies but may not offset the immediate negative sentiment from lowered financial expectations.
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