Eli Lilly's third-quarter results were disappointing, leading to a drop in share price.

From CNBC: 2024-10-30 14:42:11

Eli Lilly’s shares fell after posting disappointing third-quarter results and lowering full-year sales guidance. Revenue in the quarter rose 20% from a year ago to $11.44 billion, missing analyst estimates. Adjusted EPS of $1.18 also fell short. The stock dropped nearly 12% before rebounding. The company attributes the miss to inventory levels and demand for key drugs. Eli Lilly remains optimistic about long-term prospects in the GLP-1 drug class. The company’s Alzheimer’s treatments and strong drug portfolio support its growth potential. Despite the messy earnings report, faith in the leadership and the GLP-1 market’s growth remains strong. Eli Lilly lowered its full-year revenue guidance and EPS outlook for 2024 due to accounting charges. Sales of key GLP-1 drugs missed expectations, but the company remains confident in its growth trajectory. Trulicity sales declined, while breast cancer drug Verzenio saw growth. The new Alzheimer’s drug Kisunla’s launch is progressing.



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