Eli Lilly and Company (NYSE:LLY) reported first-quarter results on Thursday that comfortably exceeded analyst expectations and lifted its full-year guidance, sending shares more than 5% higher in premarket trading.
Adjusted earnings per share came in at $8.55, well above the $6.97 consensus estimate by $1.58.
Revenue reached $19.8 billion, surpassing forecasts of $17.6 billion and marking a sharp 56% increase from $12.7 billion in the same quarter last year.
The surge in revenue was largely driven by a 65% increase in volume, partially offset by a 13% decline due to lower realized prices for Mounjaro and Zepbound.
Lilly raised its full-year 2026 revenue outlook to between $82.0 billion and $85.0 billion, up from the previous range of $80.0 billion to $83.0 billion. The midpoint of $83.5 billion is above the $81.67 billion analyst consensus.
The company also lifted its adjusted EPS guidance to a range of $35.50 to $37.00, compared with its prior forecast of $33.50 to $35.00. The midpoint of $36.25 exceeds the $34.53 consensus estimate.
“2026 is off to a strong start, we delivered 56% revenue growth in the first quarter and raised our full-year revenue guidance by $2 billion,” said Chair and CEO David A. Ricks. “A key milestone was the U.S. FDA approval of Foundayo—the only approved GLP-1 pill that can be taken any time of day, without food and water restrictions.”
Sales of Mounjaro surged 125% to $8.7 billion, while Zepbound revenue rose 80% to $4.2 billion.
U.S. revenue increased 43% to $12.1 billion, while international revenue climbed 81% to $7.7 billion.
Adjusted gross margin stood at 82.6% of revenue, down 0.9 percentage points from a year earlier, mainly reflecting lower realized pricing.