Lilly Results Beat Estimates

Posted: Updated:
INDIANAPOLIS -

Indianapolis-based Eli Lilly and Co. (NYSE: LLY) is reporting a fourth quarter loss of $1.7 billion, compared to net income of $772 million in the same quarter a year earlier. However, when special items including recently-passed tax reform are accounted for, the company earned $1.2 billion, beating Wall Street estimates. The results, the pharmaceutical maker says, were also affected by more than $1 billion in charges mainly associated with a previously-announced, comprehensive restructuring. Lilly is also adjusting its 2018 guidance upward.

In November, Lilly said it was on-track to realize its expected savings through changes that include letting go some 3,500 workers.

Revenue for the fourth quarter and full-year were both on the rise to $6.2 billion and $22.9 billion, respectively, from $5.8 billion and $21.2 billion, respectively. The company is also reporting full-year net income of $204 million, compared to $2.7 billion in 2016.

Chief Executive Officer Dave Ricks focused on advances in Lilly's pipeline. "Lilly's new products, including Trulicity, Taltz and Jardiance, continued to drive solid revenue growth in the fourth quarter of 2017, while we maintained flat operating expenses," he said. "Momentum continues for our innovation-based strategy. We recently received approval for Taltz in the U.S. and European Union for active psoriatic arthritis, are encouraged by early use of Verzenio for breast cancer and expect further pipeline progress in 2018 in areas of significant patient need, including cancer, immunologic disorders, diabetes, neurodegeneration and pain."

Lilly projects 2018 revenue to be between $23 billion and $23.5 billion and boosted its expected earnings per share for 2018 to a range of $4.39 to $4.49, which it says reflects estimated impact from U.S. tax reform.

You can connect to the full earnings report by clicking here.

  • Perspectives

    • Can You Fulfill Your Quest?

      All of us have dragons to slay. At work or at home, in personal or professional relationships, each of us is on a Quest to find the treasure or save the prince/princess. Or perhaps, our goal is more prosaic: getting that promotion, standing up to that bully, or finishing that big project. In his book The Seven Basic Plots, Christopher Booker lists seven story forms which story tellers employ over and over. Each is plot is linked to a fundamental metaphysical Question that we...

    More

Subscribe

Name:
Company Name:
Email:
Confirm Email:
HTML
INside Edge
Morning Briefing
BigWigs & New Gigs
Life Sciences Indiana
Indiana Connections
INPower
Subscribe
Unsubscribe

Events



  • Most Popular Stories

    • High Schools Launch Manufacturing Businesses

      Two student-run manufacturing businesses have launched in southern Indiana. The companies, Eagle Manufacturing at Brown County High School in Nashville and Lion Manufacturing at Loogootee High School in Martin County, are designed to give students hands-on, real world experience. The businesses were funded with grants from Bloomington-based nonprofit Regional Opportunity Initiatives Inc. In an interview with Inside INdiana Business, ROI Chief Executive Officer...

    • Buttigieg Launches Presidential Exploratory Committee

      South Bend Mayor Pete Buttigieg has announced he has launched a presidential exploratory committee. The Democrat, who is in his eighth and final year as mayor, served as a lieutenant in the U.S. Navy Reserve and ran in 2017 for Democratic National Committee chair. Buttigieg was elected mayor in 2011 and re-elected in 2015. In December, he announced he would not seek a third term. At the time, he would not comment on a possible presidential bid, but said he would continue working...
    • Hoosier Companies Among 'Most Admired'

      Two Indiana companies are included in Fortune's 2019 list of the "World's Most Admired Companies." The list was determined by a survey of nearly 4,000 executives, directors and analysts who rated companies in their own industries based on criteria such as investment value, quality of management and ability to attract talent.

    • Talent Incubator to Open in Anderson

      Muncie-based Ontario Systems will Wednesday open a new tech training center at Anderson University. The incubator, that will be known as "The Cube," will provide students with real-life, hands-on software engineering projects.

    • Hill Reaches $120M Settlement

       Attorney General Curtis Hill has announced a $120 million settlement with Johnson & Johnson and DePuy to resolve allegations that DePuy unlawfully promoted its metal-on-metal hip implant devices, the ASR XL and the Pinnacle Ultamet. Under the settlement, Indiana will receive $3.5 million.