Eli Lilly and Co. (NYSE:LLY) early Tuesday posted better than expected first quarter earnings results and backed its full-year outlook, as its new product launches are going mostly as expected.

Written by StockNews.com

The Indianapolis-based pharmaceutical giant reported Q1:

• earnings per share (EPS) of $0.98, which was $0.02 better than the Wall Street consensus estimate of $0.96,
• revenues rose 7.5% from last year to $5.23 billion, also edging out analysts’ view for $5.22 billion.

Looking ahead:

• LLY reaffirmed its previously announced full-year EPS outlook of $4.05 to $4.15, which straddles Wall Street’s consensus estimate of $4.10, and also
• sees 2017 revenues of $21.8 to $22.3 billion, in-line with analyst expectations for $22.1 billion.

Said David A. Ricks, Lilly’s president and CEO, via press release:

“Lilly’s new product launches, including Trulicity and Taltz, led the company to a strong quarter of volume-driven revenue growth. We achieved this growth while maintaining our commitment to expand margins and improve productivity.

The progress we made in the first quarter continues the positive momentum we’ve built over the past few years. We remain on track to sustain a steady flow of innovation that has the potential to improve patients’ lives and create value for shareholders.”

...Year-to-date, LLY has gained 14.18%, versus a 6.56% rise in the benchmark S&P 500 index during the same period.

LLY currently has a StockNews.com POWR Rating of A (Strong Buy), and is ranked #5 of 135 stocks in the Medical – Pharmaceuticals category.