Eli Lilly Earnings: Medicare Zepbound Demand Outpaced Our Expectations, but Shares Overvalued
Eli Lilly reported 39% revenue growth and 7% non-GAAP earnings-per-share growth, including acquisition costs. Management raised 2026 revenue guidance to $91.5 billion at the midpoint (from $86 billion) and trimmed non-GAAP EPS guidance to $35.50 at the midpoint from $36, accounting for acquisitions.