Eli Lilly Tops Estimates With New Product Boost -- Earnings Review

   By Cara Lombardo

Eli Lilly and Co. (LLY) reported its first-quarter earnings Tuesday. Here's what you need to know:

EARNINGS: The drug company reported net income of $1.2 billion, or $1.16 a share. On an adjusted basis, the company earned $1.34 a share, topping the $1.13 analysts polled by Thomson Reuters had expected.

REVENUE: Revenue increased 9% to $5.7 billion, more than the $5.5 billion analysts had expected. The company said new pharmaceutical products, including Trulicity, Cyramza and several others, represented 25% of total revenue.

GUIDANCE: The Indianapolis-based company raised its 2018 EPS guidance to a range of $4.52 to $4.62, or $5.10 to $5.21 on an adjusted basis. That is about 20% higher than 2017. In addition to raising revenue guidance, the company also raised guidance for its research-and-development expenses and other expenses, due to increased funding of pipeline opportunities and the impact of foreign exchange rates.

SHARES: Eli Lilly shares, down 4% over the past year, are 3% lower premarket on low volume.

Write to Cara Lombardo at cara.lombardo@wsj.com

(END) Dow Jones Newswires

April 24, 2018 06:55 ET (10:55 GMT)

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