NYSE$LLY
Eli Lilly & Co · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
Eli Lilly's financial results in Q2 2023 were marked by accelerating revenue growth and key pipeline advancements.
Eli Lilly's Q2 2023 financial performance was strong, with a 28% increase in revenue driven by volume growth from key products like Mounjaro, Verzenio, Jardiance, and Taltz, as well as revenue from the sale of rights for Baqsimi. The company also saw significant pipeline progress and business development activity.
- Revenue in Q2 2023 increased 28%, driven by volume growth from Mounjaro, Verzenio, Jardiance, and Taltz, and the sale of rights for Baqsimi.
- New Products contributed $1.00 billion to revenue in Q2 2023, led by Mounjaro, while Growth Products revenue increased 16% to $4.93 billion.
- Q2 2023 EPS increased 86% to $1.95 on a reported basis and increased 69% to $2.11 on a non-GAAP basis, both inclusive of $0.43 of EPS associated with the sale of rights for Baqsimi, as well as $0.09 of acquired IPR&D charges.
- 2023 reported EPS guidance raised $1.02 to the range of $9.20 to $9.40 and non-GAAP EPS guidance raised $1.05 to the range of $9.70 to $9.90.
Headline financials
Revenue & EPS history
Eli Lilly · Revenue · Quarterly
$8.31B
Revenue by segment
Eli Lilly · $1.91B total across 2 segments · Q2 2023
- Mounjaro$980M+6023.1%51.4%
- Verzenio$927M+57.5%48.6%
Forward guidance
The company updated its 2023 financial guidance on both a reported and non-GAAP basis. Revenue guidance increased by $2.2 billion to the range of $33.4 to $33.9 billion. EPS guidance increased to the range of $9.20 to $9.40 on a reported basis and $9.70 to $9.90 on a non-GAAP basis.
Tailwinds
- Revenue guidance increased by $2.2 billion to the range of $33.4 to $33.9 billion.
- Gross margin as a percent of revenue guidance increased 1% on both a reported and non-GAAP basis to approximately 78% and 80%, respectively.
- The company's guidance for marketing, selling and administrative expenses increased by $200 million to the range of $7.2 to $7.4 billion.
- Research and development expenses guidance increased by $600 million to the range of $8.9 to $9.1 billion.
- EPS guidance increased to the range of $9.20 to $9.40 on a reported basis and $9.70 to $9.90 on a non-GAAP basis.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2023
+0.1%
Avg return
Earnings day
+0.8%
Avg return
5 days after
+3.1%
Avg return
30 days after
43%
29 / 67 earnings
Positive
+15.9%
Q2 2023
Best reaction
-14.1%
Q2 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -0.1% | +16.2% | +29.9% | |
| Q4 2025 | +10.3% | +4.1% | -1.3% | |
| Q3 2025 | +3.2% | +11.5% | +32.2% | |
| Q2 2025 | -14.1% | -14.3% | -2.6% | |
| Q1 2025 | -11.7% | -13.8% | -17.9% | |
| Q4 2024 | +3.3% | +2.7% | +3.3% | |
| Q3 2024 | -8.2% | -10.8% | -12.0% | |
| Q2 2024 | +15.5% | +17.6% | +16.9% | |
| Q1 2024 | +5.4% | -0.3% | +10.6% | |
| Q4 2023 | +2.7% | +4.8% | +10.5% | |
| Q3 2023 | +2.4% | +8.2% | +5.3% | |
| Q2 2023 | +15.9% | +16.3% | +26.2% | |
| Q1 2023 | +5.2% | +7.4% | +13.2% | |
| Q4 2022 | -1.0% | -0.8% | -7.0% | |
| Q3 2022 | -2.0% | -1.3% | +2.3% | |
| Q2 2022 | -4.0% | -3.4% | -4.0% | |
| Q1 2022 | +2.5% | +1.0% | +13.5% | |
| Q4 2021 | -3.4% | -4.4% | +4.8% | |
| Q3 2021 | +2.1% | +4.0% | +6.9% | |
| Q2 2021 | +6.4% | +6.8% | +5.3% | |
| Q1 2021 | -3.6% | -2.4% | +6.4% | |
| Q4 2020 | -3.3% | -6.3% | -2.5% | |
| Q3 2020 | -7.3% | -7.9% | +2.2% | |
| Q2 2020 | -7.1% | -4.3% | -8.9% | |
| Q1 2020 | +4.0% | +0.4% | -3.5% | |
| Q4 2019 | -0.2% | +2.5% | -9.9% | |
| Q3 2019 | -1.8% | +2.9% | +5.8% | |
| Q2 2019 | +0.2% | +3.4% | +3.2% | |
| Q1 2019 | -1.2% | -2.2% | -3.1% | |
| Q4 2018 | -2.4% | -2.0% | +5.2% | |
| Q3 2018 | -0.4% | +1.9% | +5.2% | |
| Q2 2018 | +8.5% | +8.7% | +17.9% | |
| Q1 2018 | +1.2% | +3.2% | +3.1% | |
| Q4 2017 | -4.3% | -10.0% | -10.3% | |
| Q3 2017 | -2.7% | -3.8% | -4.0% | |
| Q2 2017 | -3.4% | -1.9% | -6.9% | |
| Q1 2017 | -2.9% | -1.6% | -6.1% | |
| Q4 2016 | +3.9% | +3.4% | +11.0% | |
| Q3 2016 | -1.0% | -3.9% | -12.3% | |
| Q2 2016 | +1.7% | +1.1% | -4.8% | |
| Q1 2016 | -1.8% | — | — | |
| Q4 2015 | -3.3% | — | — | |
| Q3 2015 | +1.7% | — | — | |
| Q2 2015 | -1.9% | — | — | |
| Q1 2015 | -1.0% | — | — | |
| Q4 2014 | -0.6% | — | — | |
| Q3 2014 | +2.1% | — | — | |
| Q2 2014 | -0.7% | — | — | |
| Q1 2014 | -1.8% | — | — | |
| Q4 2013 | +0.2% | — | — | |
| Q3 2013 | +0.8% | — | — | |
| Q2 2013 | +3.1% | — | — | |
| Q1 2013 | -3.3% | — | — | |
| Q4 2012 | +2.9% | — | — | |
| Q3 2012 | -1.6% | — | — | |
| Q2 2012 | +3.9% | — | — | |
| Q1 2012 | +2.3% | — | — | |
| Q4 2011 | +1.0% | — | — | |
| Q3 2011 | -1.9% | — | — | |
| Q2 2011 | -0.1% | — | — | |
| Q1 2011 | -0.1% | — | — | |
| Q4 2010 | -1.6% | — | — | |
| Q3 2010 | -0.3% | — | — | |
| Q2 2010 | +2.5% | — | — | |
| Q1 2010 | +0.4% | — | — | |
| Q4 2009 | -0.8% | — | — | |
| Q4 2008 | -0.3% | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro