Lilly raised its full-year revenue forecast to $91-92 billion, compared with its previous outlook of $85-87 billion.
- Q3 revenue surged 39% to about $24.40 billion, above Wall Street estimates of about $22.62 billion, according to Fiscal.ai.
- Adjusted EPS rose to $7.48, beating consensus estimates of around $6.61.
- Mounjaro and Zepbound sales accounted for roughly two-thirds of Lilly’s overall revenue.
Shares of Eli Lilly (LLY) climbed 5.2% in premarket trading on Thursday, tracking all-time highs, after the pharmaceutical behemoth raised its full-year 2026 revenue outlook following better-than-expected third-quarter earnings, driven by strong demand for its diabetes and weight-loss drugs.
CEO David Ricks also highlighted growing contributions from Lilly’s oncology, immunology and neuroscience businesses as the company expands beyond weight-loss treatments.
“Revenue growth was driven by broad global consumer demand for Mounjaro and Zepbound, the global launches of Foundayo, expanded U.S. coverage for obesity care and a doubling in our newest products in oncology, immunology and neuroscience,” Ricks said.
Mounjaro, Zepbound Drive Q3 Earnings Beat
Lilly reported third-quarter (Q3) revenue of about $24.40 billion, up 39% from last year and above Wall Street estimates of about $22.62 billion, according to Fiscal.ai. Adjusted earnings per share (EPS) rose 7% to $7.48, comfortably beating consensus estimates of around $6.61.
Mounjaro, its diabetes treatment, saw Q3 sales surge 65% to $10.72 billion, while sales of its obesity drug Zepbound jumped 49% to $5.35 billion. Together, the drugs contributed more than $16 billion, accounting for roughly two-thirds of Lilly’s overall revenue. Its latest commercial weight-loss drug, Foundayo, brought in $184 million in revenue.
Lilly’s oncology, immunology, and neuroscience products doubled their combined revenue from a year earlier.
In oncology, blood cancer treatment Jaypirca generated $228 million, up 59%, while breast cancer drug Inluriyo brought in $73 million. In immunology, eczema treatment Ebglyss grew 59% to $202 million, while Kisunla, used to treat Alzheimer’s disease, generated $193 million in sales, soaring 175%.
Q3 research and development (R&D) expenses increased 23% to $4.2 billion, representing 17% of the total revenue.
Lilly Raises 2026 Revenue Outlook
Lilly raised its full-year revenue forecast to $91 billion – $92 billion, compared with its previous outlook of $85 to $87 billion. The company also raised its performance margin to 52%-52.5%, up from 49%-50.5%.
However, Lilly lowered its adjusted EPS forecast to $35 – $36, from $35.50 – $36.50.
Retail Remains Bullish On LLY
Retail sentiment surrounding LLY on Stocktwits remained ‘bullish’ over the past 24 hours, amid ‘high’ message volumes. LLY was also among the platform’s top trending tickers.
LLY shares have gained nearly 20% so far in 2026, significantly outperforming rival Novo Nordisk’s (NVO) 26% slump.
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