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Eli Lilly (LLY) Lags Q4 Earnings, Tops Sales, Cuts 2019 View

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Indianapolis, IN based Eli Lilly and Company (LLY - Free Report) , boasts of a wide range of products that serve a vast number of therapeutic areas. The company focuses primarily on central nervous system disorders, metabolic diseases, autoimmune diseases, cardiovascular diseases and cancer, which are all high growth areas and represent significant commercial potential.

Lilly’s earnings performance has been pretty impressive. Its earnings beat expectations in each of the last four quarters, with the average positive surprise being 10.03%.Estimates have remained stable ahead of earnings release

Currently, Lilly has a Zacks Rank #3 (Hold), but that could definitely change following the company’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:

Earnings Miss: Lilly missed fourth quarter earnings. The company reported EPS of $1.33 per share while our consensus called for EPS of $1.36.

Revenues Beat: Revenues beat expectations. Lilly posted revenues of $6.44 billion, compared to our consensus estimate of $6.34 billion.

2019 Outlook Lowered: Lilly lowered its previously issued earnings and sales guidance for 2019 to account for the costs related to the pending acquisition of Loxo Oncology and the decision to cease promotion of new drug Lartruvo.

The earnings forecast was reduced from a range of $5.90 to $6.00 to $5.55 to $5.65 per share. Lilly now expects revenues to be between $25.1 billion and $25.6 billion down from the prior expectations of $25.3 billion and $25.8 billion in 2019.

The Zacks Consensus Estimate for earnings and revenues is $5.87 per share and $25.38 billion, respectively.

Stock Price Impact: Shares were down around 2.5% in pre-market trading.

Check back later for our full write up on this Lilly earnings report later!

 

Eli Lilly and Company Price and Consensus

 

 

Eli Lilly and Company Price and Consensus | Eli Lilly and Company Quote

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