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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Eli Lilly and Co | NYSE:LLY | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 6.40 | 0.83% | 773.08 | 775.60 | 762.11 | 767.93 | 1,237,095 | 17:20:35 |
From May 2019 to May 2024
By Matt Grossman
Eli Lilly & Co. Tuesday adjusted its full-year revenue and earnings guidance, tightening the forecast ranges and lowering the midpoint of its adjusted-earnings estimate.
Lilly now expects revenue of $26.6 billion to $27.6 billion for the year, compared with a prior forecast of $26.5 billion to $28 billion. Its new adjusted-earnings-per-share forecast is $7.80 to $8.00, compared with $7.75 to $8.40 previously.
The change represents the midpoint of the company's adjusted-earnings-per-share guidance range falling to $7.90, from $8.08 previously.
Covid-19 therapies will contribute revenue of $1 billion to $1.5 billion in the year, Lilly estimated.
Lilly also raised its forecast for research and development expenses to $6.9 billion to $7.1 billion, from $6.5 billion to $6.7 billion previously. The increase reflects new investments in potential Alzheimer's therapies, as well as $400 million to $500 million of continued investment in Covid-19 therapies, Lilly said.
Write to Matt Grossman at matt.grossman@wsj.com
(END) Dow Jones Newswires
April 27, 2021 07:15 ET (11:15 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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