Pharmaceutical company Eli Lilly (LLY) has reported quarterly financial results that soared past Wall Street estimates as sales of its weight-loss drugs continue to accelerate.
The Indianapolis, Indiana-based company announced earnings per share (EPS) of $7.48 U.S., which topped the $6.26 U.S. that had been the consensus expectation among analysts.
Revenue in the year’s third quarter totaled $24.40 billion U.S., which beat the $22.61 billion U.S. that had been forecast on Wall Street.
The company also raised its full-year sales outlook as demand remains strong for its blockbuster weight-loss drug Zepbound and diabetes medication Mounjaro.
Eli Lilly now expects 2026 revenue of $91 billion U.S. to $92 billion U.S., up from a previous sales outlook of $85 billion U.S. to $87 billion U.S.
Full-year earnings are projected at $35 U.S. to $36 U.S. a share, which is slightly below the previous outlook of $35.50 U.S. to $36.50 U.S. per share.
The company said its profits will be slightly lower due to several acquisitions of smaller drugmakers that it has made throughout this year.
Eli Lilly is converting its profits into a dealmaking spree, most recently buying Merida Biosciences to develop a new class of treatments for autoimmune diseases and allergies.
Mounjaro, used to treat diabetes, saw its worldwide revenue rise 65% to $10.72 billion U.S. in the third quarter, including sales in America of about $5 billion U.S.
That surpassed the $10.10 billion U.S. in worldwide sales and $4.79 billion U.S. in American sales that Wall Street was expecting for the quarter.
Mounjaro sales outside the U.S. increased 93% year-over-year in Q3.
Weight-loss drug Zepbound posted global Q3 sales of $5.35 billion U.S., up 49% from the same period in 2025. Analysts were expecting $5.09 billion U.S. in global sales for Zepbound.
While Mounjaro and Zepbound exceeded expectations, Eli Lilly’s new weight-loss pill, called Foundayo, which went on sale in April of this year, missed targets.
Sales of Foundayo totaled $184 million U.S. in the third quarter, short of the $229 million U.S. in sales that had been forecast on Wall Street.
Management at Eli Lilly said they continue to ramp-up sales of the new weight-loss pill.
Overall, Eli Lilly’s revenue in the U.S. rose 34% from a year earlier to $15.1 billion U.S. in the third quarter. Sales outside the U.S. increased 47% to $9.3 billion U.S.
LLY stock has risen 58% in the past 12 months to trade at $1,288.30 U.S. per share.
