Eli Lilly stock raises 2026 sales outlook after strong Q3

Eli Lilly and Company reported its third-quarter 2026 results on October 29, 2026, with quarterly revenue rising 39% year over year to USD 24.4 billion. The company's investor release identified Mounjaro and Zepbound as the main growth drivers.

What has changed since the last report

The new quarter adds a material update to the outlook covered in the October 28 report. Lilly raised its full-year revenue guidance to USD 91 billion to USD 92 billion from USD 85 billion to USD 87 billion previously, while its adjusted earnings-per-share range moved to USD 35.00 to USD 36.00 from USD 35.50 to USD 36.50.

The earnings guidance change needs context: underlying non-GAAP EPS guidance improved by USD 4.07 at the midpoint, but acquired in-process research and development charges of USD 4.57 per share from recent business-development activity more than offset that improvement. Lilly said the charges primarily related to its AtaiBeckley and Curevo transactions.

Demand and pipeline remain central

Mounjaro revenue reached USD 10.7 billion in the quarter, while Zepbound generated USD 5.3 billion. Lilly also reported positive topline results for retatrutide in a head-to-head Phase 3 trial against Ozempic 2 mg in adults with type 2 diabetes; the candidate remains investigational.

Regulatory progress included U.S. Food and Drug Administration approvals or label expansions for Mounjaro, Onswik, Inluriyo and Jaypirca. These developments add commercial and pipeline milestones to the sales momentum, although pricing pressure remained visible: realized prices fell 15% while volume increased 53%.

Share price and investor context

At Lang & Schwarz, Eli Lilly traded at EUR 1,224.20 on October 29, 2026, at 16:37:42 Berlin time. That was 5.86% above the Xetra close of EUR 1,156.40 on October 28, 2026, according to the Yahoo Finance delayed Xetra quote. The move is a market observation and does not by itself establish a causal link to the earnings release.

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