Eli Lilly reaffirms FY18 guidance; sees FY19 EPS above consensus
- Co reaffirms guidance for FY18 (Dec), sees EPS of $5.55-5.60 vs. $5.58 S&P Capital IQ Consensus; sees FY18 (Dec) revs of $24.3-24.5 bln vs. $24.41 bln S&P Capital IQ Consensus.
- Co issues upside guidance for FY19 (Dec), sees EPS of $5.90-6.00 vs. $5.77 S&P Capital IQ Consensus; sees FY19 (Dec) revs of $25.3-25.8 bln vs. $24.57 bln S&P Capital IQ Consensus. Gross margin as a percent of revenue rate is expected to be approximately 75.0 percent on a reported basis and 76.5 percent on a non-GAAP basis.
- Having launched 10 new medicines over the past five years, the company expects continued pipeline progress in 2019, including U.S. regulatory action for nasal glucagon for hypoglycemia and lasmiditan for acute migraine, as well as new indications for several medicines.
- The company has revised its 2020 minimum financial expectations and now expects at least 6 percent compound annual revenue growth from 2015 to 2020 for the full company, and at least 7 percent compound annual revenue growth for its human pharmaceutical business.