Eli Lilly Q3 earnings expected to beat Wall Street expectations
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Eli Lilly (LLY) is expected to easily beat Wall Street's expectations when it reports third quarter earnings Wednesday morning before the bell, especially for its blockbuster weight-loss drug Zepbound. The GLP-1 drug continues to be a focal point of the company's near-term outlook.
Eli Lilly is expected to report $12.17 billion in revenue for the quarter and adjusted earnings per share of $1.51, according to Bloomberg consensus estimates.
Mizuho's healthcare expert Jared Holz wrote in a note to clients today that sales for Zepbound are estimated at $1.7 billion, while diabetes drug Mounjaro could slightly miss estimates of $3.8 billion as more patients turn to Zepbound for its higher-dosage weight-loss benefit.
And that tracks what investors are watching, Holz said.
"Some have asserted that the stock and group have peaked," he wrote. "Given the complexities around much of the Healthcare sector and difficulty establishing a simple thesis for the vast majority of names in Pharma/Biotech or otherwise, we think investors will remain very engaged in weight-loss names."
Lilly posted $4.3 billion in revenue last quarter from the two drugs.
Eli Lilly and Company (LLY)
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