The 10-second takeaway
For the quarter ended Sep. 30 (Q3), Eli Lilly missed estimates on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue contracted and GAAP earnings per share grew.
Gross margins dropped, operating margins dropped, net margins grew.
Eli Lilly reported revenue of $5.44 billion. The 13 analysts polled by S&P Capital IQ predicted revenue of $5.63 billion on the same basis. GAAP reported sales were 11% lower than the prior-year quarter's $6.15 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.79. The 15 earnings estimates compiled by S&P Capital IQ predicted $0.83 per share. GAAP EPS of $1.18 for Q3 were 6.3% higher than the prior-year quarter's $1.11 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 77.9%, 30 basis points worse than the prior-year quarter. Operating margin was 20.9%, 530 basis points worse than the prior-year quarter. Net margin was 24.4%, 430 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $5.90 billion. On the bottom line, the average EPS estimate is $0.82.
Next year's average estimate for revenue is $22.70 billion. The average EPS estimate is $3.40.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 1,251 members out of 1,350 rating the stock outperform, and 99 members rating it underperform. Among 405 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 382 give Eli Lilly a green thumbs-up, and 23 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Eli Lilly is hold, with an average price target of $44.47.
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