Eli Lilly reports EPS in-line, revs in-line; reaffirms FY16 guidance
- Reports Q4 (Dec) earnings of $0.78 per share, excluding non-recurring items, in-line with the Capital IQ Consensus of $0.78; revenues rose 5.0% year/year to $5.38 bln vs the $5.33 bln Capital IQ Consensus.
- The revenue increase was comprised of 7% due to increased volume and 3% due to higher prices, partially offset by 6% due to the unfavorable impact of foreign exchange rates. The increase in worldwide volume was primarily due to the inclusion of revenue from Novartis Animal Health and increased volume for several products, including Trulicity and Cyramza, as well as Erbitux due to the transfer of commercialization rights in North America. These worldwide volume increases were partially offset by the residual impact of the loss of exclusivity for Cymbalta. Revenue in the U.S. increased 15% to $2.821 billion, driven by higher prices, the inclusion of revenue from Novartis Animal Health and increased volumes for several pharmaceutical products. Revenue outside the U.S. decreased 4% to $2.555 billion, driven by the unfavorable impact of foreign exchange rates and the loss of exclusivity for Cymbalta in Europe in 2014, partially offset by the inclusion of revenue from Novartis Animal Health and increased volumes for several pharmaceutical products.
- Co reaffirms guidance for FY16, sees EPS of $3.45-3.55, excluding non-recurring items, vs. $3.55 Capital IQ Consensus Estimate; sees FY16 revs of $20.2-20.7 bln vs. $20.91 bln Capital IQ Consensus Estimate. Excluding the unfavorable impact of foreign exchange rates, the company expects revenue growth from a number of established products including Humalog, Trajenta, Cialis, Forteo, Strattera, Erbitux, and animal health products, as well as higher revenues from new products including Cyramza, Trulicity, Jardiance, Portrazza, and Basaglar