Eli Lilly stock lifts 2026 sales outlook after strong third quarter

Eli Lilly and Company reported strong third-quarter results on Thursday, October 29, 2026, and raised its full-year revenue outlook. The company's news release said demand for Mounjaro and Zepbound drove the performance, while acquisition-related research charges affected adjusted earnings guidance.

Eli Lilly and Company stock traded at 1,245.20 euros on Lang & Schwarz at 11:40 CET on Friday, October 30, 2026. Investors can follow the real-time quote of Eli Lilly and Company stock.

Revenue growth led by key medicines

Worldwide revenue for the three months ended September 30 rose 39 percent to 24.397 billion US dollars, compared with 17.601 billion US dollars in the year-earlier quarter. Volume increased 53 percent, partly offset by a 15 percent decline in realized prices. Lilly said key product revenue reached 17.1 billion US dollars, with growth across immunology, oncology and neuroscience.

Mounjaro revenue increased 65 percent to 10.723 billion US dollars. U.S. revenue rose 41 percent to 5.0 billion US dollars, while revenue outside the United States increased 93 percent to 5.7 billion US dollars. U.S. Zepbound revenue climbed 48 percent to 5.3 billion US dollars, reflecting continued demand for the company's diabetes and obesity treatments.

The reported gross margin was 83.9 percent, up from 82.9 percent a year earlier. On Lilly's non-GAAP measure, gross margin reached 84.4 percent, compared with 83.6 percent in the prior-year quarter. The company attributed the improvement mainly to product mix and lower production costs, although lower realized prices remained a counterweight.

Charges complicate earnings guidance

Reported net income rose 16 percent to 6.451 billion US dollars, and reported diluted earnings per share increased to 7.22 US dollars from 6.21 US dollars. Non-GAAP earnings per share reached 7.48 US dollars, compared with 7.02 US dollars in the third quarter of 2025.

Both reported and adjusted earnings included 4.57 US dollars per share of acquired in-process research and development charges, versus 0.71 US dollars a year earlier. Lilly said third-quarter revenue also benefited from roughly 900 million US dollars in milestone payments and adjustments to rebate and discount estimates, including 410 million US dollars linked to Jardiance. No further Jardiance milestones remain.

The company lifted its 2026 revenue guidance to 91 billion to 92 billion US dollars from 85 billion to 87 billion US dollars. At the same time, its adjusted earnings-per-share range moved to 35.00 to 36.00 US dollars from 35.50 to 36.50 US dollars. Lilly said underlying earnings guidance rose by 4.07 US dollars per share at the midpoint, but the increase was more than offset by 4.57 US dollars of acquired research charges.

Pipeline adds further investor focus

Chief Executive David A. Ricks said broad global demand for Mounjaro and Zepbound, the launch of Foundayo, expanded U.S. obesity-care coverage and growth in newer oncology, immunology and neuroscience products supported the quarter. He also pointed to manufacturing expansions in Texas and Virginia and continued business-development activity as part of Lilly's longer-term growth strategy.

Lilly highlighted U.S. regulatory approvals for Mounjaro's cardiovascular-risk indication, the once-weekly insulin Onswik, Inluriyo in combination with Verzenio and an expanded Jaypirca indication. The company also reported positive top-line data for retatrutide in a head-to-head Phase 3 trial against Ozempic 2 milligrams and plans to begin Phase 3 trials for EloraTZP in the fourth quarter of 2026.

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More news and analyses on Eli Lilly and Company stock will track the company's guidance, product launches and pipeline progress.