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LLY Stock Jumps After Q1 Earnings Beat, 2026 Guidance Raised
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Key Takeaways
LLY beat Q1 estimates with EPS of $8.55 and revenues of $19.8B, driven by GLP-1 drug demand.
Mounjaro and Zepbound sales surged, with strong volume growth offsetting lower realized prices.
LLY raised 2026 revenues to $82B-$85B and EPS outlook to $35.50-$37.00 after strong results.
Eli Lilly and Company (LLY - Free Report) reported first-quarter 2026 adjusted earnings per share (“EPS”) of $8.55, which comprehensively beat the Zacks Consensus Estimate of $7.06 per share. Earnings rose 156% year over year.
Revenues of $19.8 billion rose 56% year over year, driven by robust volume growth of Lilly’s popular GLP-1 drugs, Mounjaro for type II diabetes and Zepbound for obesity. Total revenues beat the Zacks Consensus Estimate of $17.62 billion.
While U.S. revenues rose 43% to $12.1 billion, ex-U.S. revenues increased 81% to $7.7 billion.
In the reported quarter, net realized prices declined 13%, while volumes rose 65%.
LLY’s Mounjaro and Zepbound Sales Outperform
Mounjaro recorded sales of $8.66 billion during the quarter, up 125% year over year. The reported sales figure beat the Zacks Consensus Estimate of $7.3 billion.
Mounjaro sales rose 59% to $4.2 billion in the United States, driven by increased demand and a favorable one-time adjustment to estimates for rebates and discounts, partially offset by lower pricing. International sales were $4.4 billion compared with $1.2 billion in the year-ago quarter, as volume growth was offset by lower realized prices as the drug was added to China's National Reimbursed Drug List.
Zepbound recorded sales of $4.16 billion in the quarter, up 80% year over year, driven by increased demand and a favorable one-time adjustment to estimates for rebates and discounts, partially offset by lower pricing. Zepbound revenues beat the Zacks Consensus Estimate of $4.02 billion.
LLY’s Key Drugs’ Sales Numbers
Trulicity generated revenues worth $919 million, down 16% year over year. Sales of Trulicity beat the Zacks Consensus Estimate of $899 million.
Sales of Trulicity are being hurt due to competitive dynamics, including patient switches to Mounjaro and lower realized prices.
Jardiance sales rose 10% to $1.11 billion, which included a one-time benefit of $250 million in international sales. Jardiance significantly beat the Zacks Consensus Estimate of $771.0 million.
Taltz brought in sales of $733 million, down 4% year over year. Taltz missed the Zacks Consensus Estimate of $760.0 million.
Verzenio generated sales of $1.3 billion in the reported quarter, up 12% year over year. Verzenio sales were in line with the Zacks Consensus Estimate.
Emgality generated revenues of $174.0 million in the quarter, up 39% year over year. Olumiant (baricitinib) generated sales of $246.0 million, up 7% on a year-over-year basis.
Among the newer drugs, Jaypirca recorded $165.0 million in sales, up 79% year over year. Omvoh recorded $80 million in sales, up 115% year over year, while Ebglyss sales were $145 million, up 141% year over year.
Sales of the new Alzheimer’s drug Kisunla were $124.0 million in the first quarter compared with $109.0 million in the previous quarter.
New breast cancer drug, Inluriyo (imlunestrant), approved in the United States in September 2025, recorded sales of $35 million in the first quarter.
LLY Raises Outlook for 2026
Lilly raised its previously issued financial guidance for 2026.
The revenue guidance was raised from a range of $80 billion to $83 billion to $82 billion to $85 billion.
Earnings per share guidance was raised from the range of $33.50 to $35.00 to $35.50 to $37.00.
Our Take on LLY’s Q1 Results
Lilly’s first-quarter results were strong as the company crushed estimates for both earnings and sales. Sales of key drugs, Mounjaro, Zepbound, Jardiance and Trulicity beat estimates while Taltz missed expectations. Lilly’s new products contributed significantly to sales growth. Lilly’s key new products (Ebglyss, Inluriyo, Jaypirca, Kisunla, Mounjaro, Omvoh, and Zepbound) contributed $13.4 billion to revenues in the first quarter.
The company also raised its sales and earnings expectations for the year.
In response to the better-than-expected quarterly earnings and the increased outlook for 2026, Lilly’s shares rose around 6% in pre-market trading.
Lilly’s stock has declined 20.8% so far this year compared with a decrease of 7.1% for the industry.
Image Source: Zacks Investment Research
Lilly has become a dominant player in the popular GLP-1 drug space, backed by robust demand for Mounjaro and Zepbound. Lilly expects continued robust growth of Mounjaro and Zepbound in 2026 as reflected in its first-quarter performance. While newer therapies such as Ebglyss, Jaypirca, Inluriyo, Kisunla and Omvoh are expected to support growth, mature products like Trulicity, Taltz and Verzenio are likely to remain flat or decline, consistent with trends seen in the first quarter.
Lilly is also developing several next-generation, more powerful and more convenient GLP-1–based treatments, including oral options and multi-acting candidates.
In early April, Lilly gained the much-anticipated FDA approval for its once-daily oral GLP-1 pill Foundayo (orforglipron)for treating obesity. Foundayo shipments began soon after. Foundayo can prove to be a commercial game-changer for Lilly. Though Foundayo had no contribution to Lilly’s first-quarter sales, investors will look for updates on the pill’s script trends in the couple of weeks since launch on the conference call.
Rival Novo Nordisk (NVO - Free Report) gained approval for an oral version of its obesity drug, Wegovy, in December 2025 and launched the pill in January 2026. On Lilly’s conference call, investors will look out for an update on whether NVO’s obesity pill affected LLY’s Zepbound market share in the first quarter.
In the past couple of years, Lilly has upped its efforts to diversify beyond GLP-1 drugs by expanding into cardiovascular, oncology and neuroscience areas. So far in 2026, it has already announced six proposed acquisitions — Centessa Pharmaceuticals (CNTA - Free Report) , Ajax Therapeutics, Kelonia Therapeutics, Orna Therapeutics, CrossBridge Bio and Ventyx Biosciences — to expand beyond its GLP-1 franchise. These deals primarily strengthen its pipeline in oncology, neuroscience and next-generation platforms like RNA and cell therapy.
Recursion Pharmaceuticals’ shares have declined 40% in the past year. Estimates for its 2026 loss per share have improved from $1.00 to 93 cents over the past 60 days. Recursion is scheduled to report first-quarter results on May 6.
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LLY Stock Jumps After Q1 Earnings Beat, 2026 Guidance Raised
Key Takeaways
Eli Lilly and Company (LLY - Free Report) reported first-quarter 2026 adjusted earnings per share (“EPS”) of $8.55, which comprehensively beat the Zacks Consensus Estimate of $7.06 per share. Earnings rose 156% year over year.
Revenues of $19.8 billion rose 56% year over year, driven by robust volume growth of Lilly’s popular GLP-1 drugs, Mounjaro for type II diabetes and Zepbound for obesity. Total revenues beat the Zacks Consensus Estimate of $17.62 billion.
While U.S. revenues rose 43% to $12.1 billion, ex-U.S. revenues increased 81% to $7.7 billion.
In the reported quarter, net realized prices declined 13%, while volumes rose 65%.
LLY’s Mounjaro and Zepbound Sales Outperform
Mounjaro recorded sales of $8.66 billion during the quarter, up 125% year over year. The reported sales figure beat the Zacks Consensus Estimate of $7.3 billion.
Mounjaro sales rose 59% to $4.2 billion in the United States, driven by increased demand and a favorable one-time adjustment to estimates for rebates and discounts, partially offset by lower pricing. International sales were $4.4 billion compared with $1.2 billion in the year-ago quarter, as volume growth was offset by lower realized prices as the drug was added to China's National Reimbursed Drug List.
Zepbound recorded sales of $4.16 billion in the quarter, up 80% year over year, driven by increased demand and a favorable one-time adjustment to estimates for rebates and discounts, partially offset by lower pricing. Zepbound revenues beat the Zacks Consensus Estimate of $4.02 billion.
LLY’s Key Drugs’ Sales Numbers
Trulicity generated revenues worth $919 million, down 16% year over year. Sales of Trulicity beat the Zacks Consensus Estimate of $899 million.
Sales of Trulicity are being hurt due to competitive dynamics, including patient switches to Mounjaro and lower realized prices.
Jardiance sales rose 10% to $1.11 billion, which included a one-time benefit of $250 million in international sales. Jardiance significantly beat the Zacks Consensus Estimate of $771.0 million.
Taltz brought in sales of $733 million, down 4% year over year. Taltz missed the Zacks Consensus Estimate of $760.0 million.
Verzenio generated sales of $1.3 billion in the reported quarter, up 12% year over year. Verzenio sales were in line with the Zacks Consensus Estimate.
Emgality generated revenues of $174.0 million in the quarter, up 39% year over year. Olumiant (baricitinib) generated sales of $246.0 million, up 7% on a year-over-year basis.
Among the newer drugs, Jaypirca recorded $165.0 million in sales, up 79% year over year. Omvoh recorded $80 million in sales, up 115% year over year, while Ebglyss sales were $145 million, up 141% year over year.
Sales of the new Alzheimer’s drug Kisunla were $124.0 million in the first quarter compared with $109.0 million in the previous quarter.
New breast cancer drug, Inluriyo (imlunestrant), approved in the United States in September 2025, recorded sales of $35 million in the first quarter.
LLY Raises Outlook for 2026
Lilly raised its previously issued financial guidance for 2026.
The revenue guidance was raised from a range of $80 billion to $83 billion to $82 billion to $85 billion.
Earnings per share guidance was raised from the range of $33.50 to $35.00 to $35.50 to $37.00.
Our Take on LLY’s Q1 Results
Lilly’s first-quarter results were strong as the company crushed estimates for both earnings and sales. Sales of key drugs, Mounjaro, Zepbound, Jardiance and Trulicity beat estimates while Taltz missed expectations. Lilly’s new products contributed significantly to sales growth. Lilly’s key new products (Ebglyss, Inluriyo, Jaypirca, Kisunla, Mounjaro, Omvoh, and Zepbound) contributed $13.4 billion to revenues in the first quarter.
The company also raised its sales and earnings expectations for the year.
In response to the better-than-expected quarterly earnings and the increased outlook for 2026, Lilly’s shares rose around 6% in pre-market trading.
Lilly’s stock has declined 20.8% so far this year compared with a decrease of 7.1% for the industry.
Image Source: Zacks Investment Research
Lilly has become a dominant player in the popular GLP-1 drug space, backed by robust demand for Mounjaro and Zepbound. Lilly expects continued robust growth of Mounjaro and Zepbound in 2026 as reflected in its first-quarter performance. While newer therapies such as Ebglyss, Jaypirca, Inluriyo, Kisunla and Omvoh are expected to support growth, mature products like Trulicity, Taltz and Verzenio are likely to remain flat or decline, consistent with trends seen in the first quarter.
Lilly is also developing several next-generation, more powerful and more convenient GLP-1–based treatments, including oral options and multi-acting candidates.
In early April, Lilly gained the much-anticipated FDA approval for its once-daily oral GLP-1 pill Foundayo (orforglipron)for treating obesity. Foundayo shipments began soon after. Foundayo can prove to be a commercial game-changer for Lilly. Though Foundayo had no contribution to Lilly’s first-quarter sales, investors will look for updates on the pill’s script trends in the couple of weeks since launch on the conference call.
Rival Novo Nordisk (NVO - Free Report) gained approval for an oral version of its obesity drug, Wegovy, in December 2025 and launched the pill in January 2026. On Lilly’s conference call, investors will look out for an update on whether NVO’s obesity pill affected LLY’s Zepbound market share in the first quarter.
In the past couple of years, Lilly has upped its efforts to diversify beyond GLP-1 drugs by expanding into cardiovascular, oncology and neuroscience areas. So far in 2026, it has already announced six proposed acquisitions — Centessa Pharmaceuticals (CNTA - Free Report) , Ajax Therapeutics, Kelonia Therapeutics, Orna Therapeutics, CrossBridge Bio and Ventyx Biosciences — to expand beyond its GLP-1 franchise. These deals primarily strengthen its pipeline in oncology, neuroscience and next-generation platforms like RNA and cell therapy.
LLY’s Zacks Rank & A Stock to Consider
Eli Lilly currently has a Zacks Rank #3 (Hold).
Eli Lilly and Company Price and Consensus
Eli Lilly and Company price-consensus-chart | Eli Lilly and Company Quote
A better-ranked stock is Recursion Pharmaceuticals (RXRX - Free Report) , which has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Recursion Pharmaceuticals’ shares have declined 40% in the past year. Estimates for its 2026 loss per share have improved from $1.00 to 93 cents over the past 60 days. Recursion is scheduled to report first-quarter results on May 6.