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Lilly (LLY) Q3 Earnings Top Estimates, Sales Lag, Stock Down
Eli Lilly & Company LLY reported third-quarter 2019 adjusted earnings per share of $1.48, which beat the Zacks Consensus Estimate of $1.43. Earnings rose 10% year over year as higher operating costs were partially offset by slightly higher revenues, a lower tax rate and reduction in shares outstanding due to buybacks.
Quarter in Detail
Revenues of $5.48 billion missed the Zacks Consensus Estimate of $5.56 billion. Sales however grew 3% year over year, backed by strong volume trends for its newer drugs, namely Trulicity, Taltz, Jardiance, Basaglar, Emgality, and Verzenio, which compensated for lower sales of older products like Cialis due to the loss of U.S. exclusivity and the impact of Lartruvo’s product withdrawal. Lilly has suspended promotion of its advanced soft tissue sarcoma drug, Lartruvo due to the failure of the ANNOUNCE confirmatory study.
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https://finance.yahoo.com/news/lilly-lly...02500.html
![[Bild: LLYc1dl1520.png]](https://finviz.com/publish/102319/LLYc1dl1520.png)
Eli Lilly & Company LLY reported third-quarter 2019 adjusted earnings per share of $1.48, which beat the Zacks Consensus Estimate of $1.43. Earnings rose 10% year over year as higher operating costs were partially offset by slightly higher revenues, a lower tax rate and reduction in shares outstanding due to buybacks.
Quarter in Detail
Revenues of $5.48 billion missed the Zacks Consensus Estimate of $5.56 billion. Sales however grew 3% year over year, backed by strong volume trends for its newer drugs, namely Trulicity, Taltz, Jardiance, Basaglar, Emgality, and Verzenio, which compensated for lower sales of older products like Cialis due to the loss of U.S. exclusivity and the impact of Lartruvo’s product withdrawal. Lilly has suspended promotion of its advanced soft tissue sarcoma drug, Lartruvo due to the failure of the ANNOUNCE confirmatory study.
...
https://finance.yahoo.com/news/lilly-lly...02500.html
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