TLDR
- Eli Lilly (LLY) stock rose 4% to $1,344 in premarket trading Thursday after the company beat third-quarter forecasts.
- Adjusted EPS came in at $7.48 on revenue of $24.4 billion, up 39% from a year ago.
- Mounjaro brought in $10.7 billion and Zepbound added $5.3 billion, both above estimates.
- Full-year revenue guidance rose to $91 billion to $92 billion, up from $85 billion to $87 billion.
- Adjusted EPS guidance was trimmed to $35 to $36 a share because of pipeline spending.
Eli Lilly (LLY) stock rose 4% to $1,344 in premarket trading Thursday after the drugmaker beat third-quarter estimates and raised its revenue outlook. The stock closed Wednesday at $1,288.30.
The company reported adjusted earnings of $7.48 a share. Analysts tracked by FactSet expected $5.68, and Investing.com put the consensus at $5.60.
Revenue climbed 39% to $24.4 billion. Wall Street had forecast between $22.42 billion and $22.58 billion, depending on the source.
ELI LILLY $LLY Q3’26 EARNINGS HIGHLIGHTS
🔹 Revenue: $24.4B (Est. $22.61B) 🟢; +39% YoY
🔹 Adj. EPS: $7.48; +7% YoY
🔹 Gross Margin: 84.4%
🔹 Mounjaro Revenue: $10.7B; +65% YoYFY26 Guide:
🔹 Revenue: $91.0B-$92.0B (Est. $88.85B) 🟢; from $85B-$87B
🔹 EPS: $35.00-$36.00; from… pic.twitter.com/jLWvNCmsdO— Wall St Engine (@wallstengine) October 29, 2026
Mounjaro, approved for Type 2 diabetes, stayed the top seller at $10.7 billion. Analysts had expected $9.95 billion.
Zepbound, which uses the same active ingredient for chronic weight management, generated $5.3 billion. The estimate was $5.02 billion.
Guidance Moves Higher
Lilly now expects full-year revenue between $91 billion and $92 billion. Its earlier range was $85 billion to $87 billion.
Analysts were looking for $88.8 billion, so the new range sits above that mark. That is a big step up in a single quarter.
CEO David Ricks pointed to continued demand for the company’s GLP-1 medications. He also cited “expanded U.S. coverage for obesity care.”
There was one softer spot. Lilly trimmed its adjusted earnings forecast to $35 to $36 a share, down from $35.50 to $36.50.
The company said the cut came from third-quarter spending on its drug pipeline and assets in development. Even so, the new range is above the analyst consensus of $34.46.
Stock Performance and Analyst Revisions
The stock was already having a strong run before the report. It is up 12% over the last three months and up 53% over the past year.
Analyst estimates have been mixed lately. Lilly saw 4 positive EPS revisions and 13 negative ones over the last 90 days.
That makes the beat look even sharper against where expectations stood. Analysts will likely be busy updating their models today.
Fellow drugmaker Merck (MRK) also reported before the opening bell. Its stock rose 2% in premarket trading.
According to InvestingPro, Lilly’s financial health score is “great performance.” Regular trading opens later this morning, where the premarket gain will be tested.
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