Eli Lilly and Co. (NYSE: LLY) shares climbed Wednesday after the drugmaker delivered a second-quarter performance that left Wall Street forecasts in the dust, while also bumping up its full-year revenue outlook. The story remains the same as it has been for a while now: the GLP-1 juggernaut keeps rolling.
The company's obesity and diabetes franchise continued to be its biggest growth engine, with blockbuster drugs Mounjaro and Zepbound pulling in a combined $14.9 billion in revenue during the quarter. That's $6.3 billion more than the same period last year, a clear signal that demand for these treatments isn't cooling off anytime soon. Eli Lilly is expanding access, launching new products, and solidifying its grip on the fast-growing GLP-1 market.
Mounjaro And Zepbound Drive Strong Quarter
Adjusted earnings came in at $8.38 per share, blowing past the analyst consensus of $6.01. Revenue jumped 48% year-over-year to $22.97 billion, also topping the $20.73 billion that analysts had penciled in.
Digging into the numbers, the revenue surge was fueled by a 60% increase in volume, though that was partially offset by a 13% decline in realized prices. The company's Key Products portfolio generated $15.7 billion in revenue, led by Mounjaro and Zepbound. Revenue across the Immunology, Oncology, and Neuroscience therapeutic areas climbed an impressive 121%.
Mounjaro's global revenue rose 91% to $9.9 billion, with U.S. sales up 45% to $4.8 billion, driven by strong demand but tempered by lower realized prices. Zepbound's U.S. revenue increased 44% to $4.93 billion.
CEO Highlights Pipeline
CEO David Ricks didn't hold back when talking about the future. "With our next-generation weight-loss medicine retatrutide and its complete clinical data package in hand, new manufacturing capacity coming online, and exciting new assets entering our pipeline through business development, Lilly's future, after 150 years, has never been brighter," he said.
Eli Lilly Raises Revenue Outlook
Looking ahead, Eli Lilly narrowed its fiscal 2026 adjusted earnings guidance to $35.50 to $36.50 per share, down from its previous range of $35.50 to $37.00. Even with the slight trim, the updated range remains above the analyst consensus of $34.20.
On the revenue front, the company raised its fiscal 2026 guidance to $85 billion to $87 billion, up from $82 billion to $85 billion. The midpoint of the new range sits above the analyst consensus of $85.45 billion.
CVS Health Collaboration
In a separate move Wednesday, CVS Health Inc. (NYSE: CVS) announced changes to its weight management program, including a collaboration with Eli Lilly to help eligible Zepbound and Foundayo patients access transparent pricing, including reimbursed and self-pay options, through the CVS Health app.
Earlier this week, the U.S. Food and Drug Administration granted Breakthrough Therapy designation to Eli Lilly's olomorasib as a monotherapy for patients with advanced pancreatic cancer who have received at least one prior systemic therapy.
Eli Lilly Price Action
At the time of publication Wednesday, Eli Lilly shares were up 2.90% at $1,148.04, according to market data.
