Eli Lilly Earnings: Exceeds Estimates

Eli Lilly & Co. (NYSE:LLY) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 0.25%.

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Eli Lilly & Co. Earnings Cheat Sheet

Results: Net income decreased -3.61% to $827.2 million (85 cents per diluted share) in the quarter versus a net gain of $858.2 million in the year-earlier quarter.

Revenue: Decreased 0.77% to $6 billion from the year-earlier quarter.

Actual vs. Wall St. Expectations: Eli Lilly & Co. reported adjusted net income of 85 cents per share. By that measure, the company beat the mean analyst estimate of $0.78. It beat the average revenue estimate of $5.81 billion.

Quoting Management: “Lilly delivered solid financial results in the fourth quarter of 2012, as we successfully offset a large part of the revenue decline from the Zyprexa patent expiration with growth in other products such as Cymbalta, Forteo, Alimta, Effient and our animal health portfolio,” said John C. Lechleiter, Ph.D., Lilly’s Chairman, President and CEO…

…At the same time, we continued to control costs while investing in R&D in order to replenish and advance our pipeline. Today, Lilly has 13 potential new medicines in Phase III testing. We are well-positioned to deliver on our innovation-based strategy and create long-term value for all of our stakeholders.”

Key Stats:

Revenue increased 10.23% from $5.44 billion in the previous quarter. Net income decreased 37.65% from $1.33 billion in the previous quarter.

Looking Forward: Analysts have a neutral outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings is a profit of $0.98 and has not changed. For the current year, the average estimate has moved down from a profit of $3.34 to a profit of $3.33 over the last ninety days.

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(Company fundamentals provided by Xignite Financials.)