The 10-second takeaway
For the quarter ended March 31 (Q1), Eli Lilly met expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue didn't move. Non-GAAP earnings per share expanded significantly. GAAP earnings per share grew significantly.
Margins grew across the board.
Eli Lilly notched revenue of $5.60 billion. The 12 analysts polled by S&P Capital IQ expected to see a top line of $5.68 billion on the same basis. GAAP reported sales were the same as the prior-year quarter's.
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 $1.14. The 16 earnings estimates compiled by S&P Capital IQ averaged $1.05 per share. Non-GAAP EPS of $1.14 for Q1 were 24% higher than the prior-year quarter's $0.92 per share. GAAP EPS of $1.42 for Q1 were 56% higher than the prior-year quarter's $0.91 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 79.3%, 70 basis points better than the prior-year quarter. Operating margin was 25.8%, 70 basis points better than the prior-year quarter. Net margin was 27.6%, 960 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $5.86 billion. On the bottom line, the average EPS estimate is $1.00.
Next year's average estimate for revenue is $22.96 billion. The average EPS estimate is $3.90.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 1,245 members out of 1,344 rating the stock outperform, and 99 members rating it underperform. Among 425 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 403 give Eli Lilly a green thumbs-up, and 22 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 $54.35.
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