Lilly raises revenue guidance by $5.5 billion at midpoint

Eli Lilly’s third quarter revenue rose 39 percent to $24.4 billion, driven by a 53 percent increase in volume partly offset by a 15 percent decrease in realized prices, the company reported on Thursday. Mounjaro revenue rose 65 percent to $10.7 billion and Zepbound revenue rose 49 percent to $5.4 billion, and reported earnings per share rose 16 percent to $7.22 despite $4.57 per share of acquired in-process research and development charges.

The guidance move is the larger fact. Lilly raised full year 2026 revenue guidance to $91 billion to $92 billion, from $85 billion to $87 billion, a $5.5 billion increase at the midpoint, and said underlying non-GAAP earnings guidance rose $4.07 at the midpoint, more than offset by the $4.57 of third quarter deal charges, leaving the updated non-GAAP range at $35.00 to $36.00 per share. Third quarter revenue included about $900 million of benefits, including $410 million of Jardiance milestones that the company said will not recur.