Eli Lilly Guides FY24 Revenues Above Estimates - Update

(RTTNews) - While reporting financial results for the fourth quarter on Tuesday, drugmaker Eli Lilly and Co. (LLY) initiated its earnings, adjusted earnings and revenue guidance for the full-year 2024.

For fiscal 2024, Eli Lilly now projects earnings in a range of $11.80 to $12.30 per share and adjusted earnings in a range of $12.20 to $12.70 per share on revenues between $40.4 billion and $41.6 billion.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $12.43 per share on revenues of $39.8 billion for the year. Analysts' estimates typically exclude special items.

The company said the growth in revenue compared to 2023 is expected to be largely driven by New Products, partially offset by an expected continuation of the decline in Trulicity sales

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