Jun 2026 (Q2 FY26) — Aug 5, 2026
Eli Lilly Q2 FY26 — Strong Revenue Growth and Pipeline Advancement
Read the full callEli Lilly (LLY) earnings
- Jun 2026
- Jun 2026 (Q2 FY26)
- Dec 2025
Eli Lilly earnings: last reported Wed, 5 Aug 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 22,974 | +47.7% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | Operating profit / revenue | Quarter to Jun 2026 | Not in the filed figures for the quarter to jun 2026. No older figure is substituted. | ||
| Net profit | 7,095 | +25.3% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
Guidance
What management said, and what became of it
23 of 23 judged targets kept · 13 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Medicare access to obesity medicines | new Medicare access to obesity medicines will become effective no later than July 1, 2026 | Dec 2025 | the Medicare GLP-1 bridge program launched on July 1 | Achieved |
| FY2026 EPS guidance (non-GAAP) | $33.50 to $35 | Dec 2025 | We now expect non-GAAP earnings per share of $35.50 to $36.50, an increase of $2.78 per share at the midpoint of our range before updating our guide for the $3.03 impact of Q2 acquired IP R&D charges. | Revised Up |
| FY2026 net price change guidance (portfolio) | drag on growth of low to mid-teens percentage points | Dec 2025 | we still expect price to be a headwind in the low to mid-teens for the full year | On Track |
13 of ELI LILLY & Co's 36 targets are still open. See which are on track and which have gone quiet. The 3 above are the free sample; 33 more targets are in the full ledger.
Claimed
- Revenue grew 48% compared to Q2 2025, reaching $14.9 billion for Mounjaro and SERD combined.
- Key products (oncology, immunology, neuroscience) collectively grew 121% year-over-year.
- Full-year 2026 revenue guidance raised to $85 billion - $87 billion, an increase of $2 billion to $3 billion.
- Foundayo received first international approvals for obesity in UAE, Saudi Arabia, and Mexico, with early uptake encouraging.
- Medicare GLP-1 bridge program launched, expanding access for 35% more eligible Americans at $50 per month.
Qualified
- U.S. price declined by 3% in Q2, primarily driven by Saban and Monaro, and 9% excluding adjustments for estimates for EBITs and discounts.
- Foundayo U.S. launch curve was initially slower than anticipated, though an inflection point is now observed.
- Net pricing for Zebbound (~$580 per prescription) is meaningfully higher than cash pay and Wegovy (~$380 per prescription), with future price reductions expected due to increased access.
Price
$1,240.34 −1.33% · −$16.69
Performance +54.5% 1Y
1Y: $802.83 on 17 Oct 2025 → $1,240.34. High $1,280.34 (19 Aug 2026), low $799.57 (21 Oct 2025).
- Previous close
- $1,257.03
- 52-week range
- $799.57 – $1,280.34
- One year
- +53.33%
Overview
- Symbol
- LLY
- Sector
- Health Care
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
23 of 23 judged targets kept · 13 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Medicare access to obesity medicines | new Medicare access to obesity medicines will become effective no later than July 1, 2026 | Dec 2025 | the Medicare GLP-1 bridge program launched on July 1 | Achieved |
| FY2026 EPS guidance (non-GAAP) | $33.50 to $35 | Dec 2025 | We now expect non-GAAP earnings per share of $35.50 to $36.50, an increase of $2.78 per share at the midpoint of our range before updating our guide for the $3.03 impact of Q2 acquired IP R&D charges. | Revised Up |
| FY2026 net price change guidance (portfolio) | drag on growth of low to mid-teens percentage points | Dec 2025 | we still expect price to be a headwind in the low to mid-teens for the full year | On Track |
Claimed
- Revenue grew 48% compared to Q2 2025, reaching $14.9 billion for Mounjaro and SERD combined.
- Key products (oncology, immunology, neuroscience) collectively grew 121% year-over-year.
- Full-year 2026 revenue guidance raised to $85 billion - $87 billion, an increase of $2 billion to $3 billion.
- Foundayo received first international approvals for obesity in UAE, Saudi Arabia, and Mexico, with early uptake encouraging.
- Medicare GLP-1 bridge program launched, expanding access for 35% more eligible Americans at $50 per month.
Qualified
- U.S. price declined by 3% in Q2, primarily driven by Saban and Monaro, and 9% excluding adjustments for estimates for EBITs and discounts.
- Foundayo U.S. launch curve was initially slower than anticipated, though an inflection point is now observed.
- Net pricing for Zebbound (~$580 per prescription) is meaningfully higher than cash pay and Wegovy (~$380 per prescription), with future price reductions expected due to increased access.
The full ledger
Open ELI LILLY & Co’s full ledger
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Call summaries
Mar 2026 (Q1 FY26) — Apr 30, 2026
Eli Lilly Q1 FY26 — Strong Growth Driven by Incretins and Foundayo Launch
Read the full callDec 2025 (Q4 FY25) — Feb 4, 2026
Eli Lilly Q4 FY25 — Robust Growth Driven by Key Products and Pipeline Expansion
Read the full callEvery analysed call
Eli Lilly earnings calls (LLY)
Financials
What the filings say
Net profit, year on year: +25% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 11,439 | 13,533 | 12,729 | 15,558 | 17,601 | 19,292 | 19,799 | 22,974 |
| Other income | 62 | -110 | -239 | -90 | -133 | -108 | -65 | 269 |
| Interest | 193 | 225 | 244 | 249 | 180 | 223 | — | — |
| Profit before tax | 1,588 | 5,039 | 3,456 | 6,777 | 7,232 | 8,266 | 8,850 | 9,247 |
| Tax rate | 38.9% | 12.5% | 20.2% | 16.5% | 22.8% | 19.7% | 16.4% | 23.3% |
| Net profit | 970 | 4,410 | 2,759 | 5,661 | 5,583 | 6,638 | 7,396 | 7,095 |
| EPS ($ per share) | 1.08 | — | 3.07 | 6.30 | 6.22 | — | 8.27 | 7.95 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 661 | 599 | 598 | 596 | 594 | 594 | 592 | 590 |
| Reserves | 11,396 | 4,920 | 7,830 | 8,959 | 10,043 | 10,312 | 13,545 | 24,470 |
| Total liabilities | 32,999 | 36,587 | 40,808 | 39,651 | 38,714 | 53,143 | 64,443 | 85,941 |
| Fixed assets | 7,996 | 7,873 | 8,682 | 8,985 | 10,144 | 12,914 | 17,102 | 24,675 |
| Investments | 88 | 101 | 24 | 90 | 145 | 109 | 155 | — |
| Total assets | 43,908 | 39,286 | 46,633 | 48,806 | 49,490 | 64,006 | 78,715 | 112,476 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 5,525 | 4,837 | 6,500 | 7,366 | 7,586 | 4,240 | 8,818 | 16,813 |
| Cash from investing | 1,906 | -8,083 | -2,259 | -2,867 | -3,763 | -7,153 | -9,302 | -10,972 |
| Cash from financing | -5,905 | -2,324 | -3,137 | -4,131 | -5,407 | 3,496 | 1,230 | -2,213 |
| Net cash flow | 1,462 | -5,661 | 1,320 | 161 | -1,751 | 752 | 449 | 4,000 |
| Capital expenditure | -1,211 | -1,034 | -1,388 | -1,310 | -1,854 | -3,448 | -5,058 | -7,841 |
| Free cash flow | 4,314 | 3,803 | 5,112 | 6,056 | 5,731 | 792 | 3,760 | 8,972 |
LLY revenue by segment
| Segment | Q2 FY2024 | Q3 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Reportable | — | — | 100% | 100% | 100% | 100% | 100% | 100% | +47.7% |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
Revenue by region
Q2 FY2026 · share of revenue
- US 63% ↓ 6 pt
- Europe 18% ↑ 4 pt
- Rest Of World 13%
- CN 4%
- JP 3% ↓ 1 pt
As LLY cuts its regions in its filings; they can nest, so they need not add to 100%.
Insider filings
356 filings between Oct 20, 2025 and Sep 21, 2026.
Open market
decisions to buy or sellPurchases
None
No insider bought shares.
Sales
$78.39B
248 sales by 5 insiders
2% filed under a 10b5-1 plan — scheduled in advance, not decided on the day
Compensation
not trading decisions- 74
- Award — granted as compensation
- 14
- Option exercise — converted options into shares
- 14
- Tax withheld — shares kept back by the company to cover tax
Also filed: 6 gifts.
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| LILLY ENDOWMENT INC | — | $78.37B | May 6, 2026 |
| Jonsson Patrik | — | $7.64M | Aug 17, 2026 |
| Hakim Anat | — | $5.95M | Aug 7, 2026 |
| Zakrowski Donald A | — | $3.38M | Aug 10, 2026 |
| Yuffa Ilya | — | $2.88M | Jun 10, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Sep 21, 2026 | Alvarez Ralph Director | Award | 11 | $12.4K |
| Sep 21, 2026 | Sulzberger Gabrielle Director | Award | 4 | $5.0K |
| Sep 21, 2026 | Fyrwald J Erik Director | Award | 9 | $9.9K |
| Sep 21, 2026 | LUCIANO JUAN R Director | Award | 14 | $15.9K |
| Sep 9, 2026 | Seymour Melissa EVP, Global Quality | Gift | 12 | $0 |
| Sep 2, 2026 | Dozier Eric EVP, Chief People Officer | Gift | 216 | $0 |
| Sep 2, 2026 | Hernandez Edgardo EVP & Pres., Mfg. Operations | Gift | 13 | $0 |
| Aug 17, 2026 | Jonsson Patrik EVP & President, LLY Int'l | Sale 10b5-1 plan | 6,500 | $7.64M |
| Aug 17, 2026 | Fyrwald J Erik Director | Award | 8 | $9.9K |
| Aug 17, 2026 | Alvarez Ralph Director | Award | 10 | $12.4K |
| Aug 17, 2026 | Sulzberger Gabrielle Director | Award | 4 | $5.0K |
| Aug 17, 2026 | LUCIANO JUAN R Director | Award | 13 | $15.9K |
| Aug 10, 2026 | Zakrowski Donald A SVP, Finance, & CAO | Sale 10b5-1 plan | 2,000 | $2.37M |
| Aug 7, 2026 | Hakim Anat EVP, GC & Secretary | Sale 10b5-1 plan | 5,000 | $5.95M |
| Aug 1, 2026 | Seymour Melissa EVP, Global Quality | Tax withheld | 439 | $504.0K |
| Aug 1, 2026 | Seymour Melissa EVP, Global Quality | Option exercise | 981 | $0 |
| Jul 20, 2026 | Alvarez Ralph Director | Award | 11 | $12.4K |
| Jul 20, 2026 | Sulzberger Gabrielle Director | Award | 4 | $5.0K |
| Jul 20, 2026 | LUCIANO JUAN R Director | Award | 14 | $15.9K |
| Jul 20, 2026 | Fyrwald J Erik Director | Award | 9 | $9.9K |
| Jun 15, 2026 | Fyrwald J Erik Director | Award | 9 | $9.9K |
| Jun 15, 2026 | Alvarez Ralph Director | Award | 11 | $12.4K |
| Jun 15, 2026 | Sulzberger Gabrielle Director | Award | 4 | $5.0K |
| Jun 15, 2026 | LUCIANO JUAN R Director | Award | 14 | $15.9K |
| Jun 10, 2026 | Yuffa Ilya EVP&Pres, LLY USA&Global Capab | Sale 10b5-1 plan | 2,500 | $2.88M |
| May 18, 2026 | Alvarez Ralph Director | Award | 13 | $12.4K |
| May 18, 2026 | Sulzberger Gabrielle Director | Award | 5 | $5.0K |
| May 18, 2026 | LUCIANO JUAN R Director | Award | 16 | $15.9K |
| May 18, 2026 | Fyrwald J Erik Director | Award | 10 | $9.9K |
| May 6, 2026 | LILLY ENDOWMENT INC Insider | Sale | 2,208 | $2.20M |
| May 6, 2026 | LILLY ENDOWMENT INC Insider | Sale | 13,620 | $13.55M |
| Apr 20, 2026 | Sulzberger Gabrielle Director | Award | 5 | $5.0K |
| Apr 20, 2026 | Fyrwald J Erik Director | Award | 11 | $9.9K |
| Apr 20, 2026 | LUCIANO JUAN R Director | Award | 17 | $15.9K |
| Apr 20, 2026 | Alvarez Ralph Director | Award | 13 | $12.4K |
| Mar 16, 2026 | Fyrwald J Erik Director | Award | 10 | $9.9K |
| Mar 16, 2026 | LUCIANO JUAN R Director | Award | 16 | $15.9K |
| Mar 16, 2026 | Alvarez Ralph Director | Award | 13 | $12.4K |
| Mar 16, 2026 | Sulzberger Gabrielle Director | Award | 5 | $5.0K |
| Feb 19, 2026 | Dozier Eric EVP, Chief People Officer | Gift | 481 | $0 |
| Feb 17, 2026 | Fyrwald J Erik Director | Award | 10 | $9.9K |
| Feb 17, 2026 | Alvarez Ralph Director | Award | 12 | $12.4K |
| Feb 17, 2026 | Sulzberger Gabrielle Director | Award | 5 | $5.0K |
| Feb 17, 2026 | LUCIANO JUAN R Director | Award | 15 | $15.9K |
| Feb 16, 2026 | Brown Adrienne S EVP, President LLY Imm | Tax withheld | 170 | $176.8K |
| Feb 16, 2026 | Brown Adrienne S EVP, President LLY Imm | Option exercise | 391 | $0 |
| Feb 16, 2026 | Custer Kenneth L. EVP & President, Card Met Hlth | Tax withheld | 91 | $95.0K |
| Feb 16, 2026 | Custer Kenneth L. EVP & President, Card Met Hlth | Option exercise | 207 | $0 |
| Feb 16, 2026 | Montarce Lucas EVP & CFO | Tax withheld | 160 | $166.1K |
| Feb 16, 2026 | Montarce Lucas EVP & CFO | Option exercise | 368 | $0 |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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