Indianapolis, IN based Eli Lilly and Company (LLY - Free Report), is a global healthcare company with core products in a number of primary-care pharmaceutical markets. Lilly generates revenues from its pharmaceutical product and animal health segments.

The company’s portfolio includes Zyprexa (schizophrenia and bipolar disorder), Humalog (diabetes), Evista (osteoporosis), Cymbalta (depression), Cialis (erectile dysfunction), Strattera (attention deficit hyperactivity disorder - ADHD), Erbitux (cancer) and Alimta (chemotherapy). Lilly also has a strong presence in the diabetes market. However, many of its key products like Cymbalta and Alimta are facing generic competition. The company also has some new products like Trulicity, Cyramza, Jardiance, Basaglar, Lartruvo, and Taltz in its portfolio which are driving revenues.

Lilly’s earnings performance has been pretty impressive with earnings beating expectations in each of the last four quarters, bringing the average positive surprise to 4.08%.

Currently, Lilly has a Zacks Rank #2 (Buy), but that could definitely change following the company’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:

Earnings Beat: Lilly beat on first quarter earnings. The company reported EPS of $1.34 per share while our consensus called for EPS of $1.13.

Revenues Beat: Revenues also beat expectations. Lilly posted revenues of $5.70 billion, compared to our consensus estimate of $5.53 billion.

2018 EPS Outlook Upped: Lilly raised its previously issued outlook for adjusted earnings as well as sales.

Adjusted earnings per share are now expected in the range of $5.10 to $5.20 higher than $4.81 to $4.91 expected previously to reflect the expected benefit from higher operating profits and lower tax rates. The revenue range was also slightly upped to $23.7 billion to $24.2 billion from $23.0 billion to $23.5 billion expected previously.

The Zacks Consensus Estimate for earnings and revenues is $4.88 per share and $23.43 billion, respectively.

Stock Price Impact: Despite the earnings and sales beat and the increased guidance, shares were down 1.6% in pre-market trading.

Eli Lilly and Company Price and Consensus

Eli Lilly and Company Price and Consensus | Eli Lilly and Company Quote