Eli Lilly reported a strong first quarter with significant revenue and EPS growth, driven by volume increases in key products like Mounjaro and Zepbound. The company raised its full-year guidance and highlighted regulatory and pipeline progress, alongside strategic acquisitions.
Revenue increased 56% to $19.8 billion, primarily driven by a 65% increase in volume.
positiveReported EPS increased 170% to $8.26, and non-GAAP EPS increased 156% to $8.55.
positiveFull-year revenue guidance raised to $82.0 billion - $85.0 billion, and non-GAAP EPS guidance to $35.50 - $37.00.
positiveFDA approval of Foundayo (orforglipron) for adults with obesity.
positivePositive Phase 3 results for Foundayo, Jaypirca, Taltz, Zepbound, and retatrutide.
positiveRealized prices decreased by 13% overall, driven by lower prices for Mounjaro and Zepbound.
attentionGross margin as a percent of revenue decreased by 0.6 percentage points to 81.9% on a reported basis, primarily driven by lower realized prices.
attentionAcquired IPR&D charges were $584 million in Q1 2026, compared to $1.6 billion in Q1 2025.
attentionAsset impairment, restructuring and other special charges of $279 million in Q1 2026, primarily related to litigation matters.
attentionMargin expansion indicates improving profitability and operational efficiency. Measured in basis points (bps): 100 bps = 1.0%.
Forward-looking guidance is subject to change and does not constitute a guarantee. Actual results may differ materially from these estimates.
Special items are non-recurring events that may distort period-over-period comparisons. Analysts typically adjust for these when calculating normalized earnings.
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.
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.
Foundayo will meaningfully expand the number of people who can benefit from GLP-1s.
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Operational metrics provide insight into business drivers and customer engagement beyond traditional financial measures.