Key products volume - Q2 revenue growth was driven mainly by higher volume for Mounjaro and Zepbound
Price declines - Realized prices fell 13% globally, with declines driven by Zepbound and Mounjaro, partially offset by rebate and discount adjustments
Gross margin improvement - Gross margin rose due to improved cost of production and favorable product mix
Key details and analyst coverage
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Beat
$22.97 bln
$20.73 bln (19 Analysts)
Q2 Adjusted EPS
Beat
$8.38
$6.006 (16 Analysts)
Q2 EPS
$7.94
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 27 "strong buy" or "buy", 6 "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the pharmaceuticals peer group is "buy"
Wall Street's median 12-month price target for Eli Lilly and Company is $1,281.50, about 14.9% above its August 4 closing price of $1,115.68
The stock recently traded at 28 times the next 12-month earnings vs. a P/E of 25 three months ago
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