Eli Lilly (NYSE:LLY) is scheduled to announce Q1 earnings results on Tuesday, April 30th, before market open.
Analysts estimate a profit of $2.49 on revenue of $8.93B.
The company, which has been gaining in stock price helped by the weight loss frenzy, is expected to beat results this quarter driven by Mounjaro and Zepbound.
According to J.P Morgan, “LLY remains one of our favourite names in the group as we see further upside to Street estimates as Mounjaro continues to ramp and Zepbound fully launches as well as a number of additional incretin datapoints ahead. These include initial tirzepatide health outcomes data, manufacturing capacity improvements, and ph3 data for orforglipron/retatrutide in 2025.”
Over the last 2 years, LLY has beaten EPS estimates 75% of the time and has beaten revenue estimates 75% of the time.
Over the last 3 months, EPS estimates have seen 3 upward revisions and 7 downward. Revenue estimates have seen 8 upward revisions and 0 downward.
JPM states that while shares trade at a significant premium to peers, they see unprecedented growth for LLY over the next decade with the company’s incretin franchise reaching $60bn+ by 2030 and continuing to grow from there.
Jefferies also believes that Lilly will beat consensus, but Trulicity miss could offset outright beat.
YTD, the stock has gained 25% and in the last 12 months it has risen a whopping 94%. The stock has outperformed the broader S&P 500 market in both the time periods.
LLY remains one of the least shorted stocks in the last three months, and has a Buy rating according to Wall Street analysts.
