Full Breakdown
Eli Lilly’s Q2 2026 Earnings Beat on GLP-1 Surge and Raised Full-Year Outlook
8/6/2026, 6:25:17 AM
Core Results and Forecast Update
Eli Lilly reported adjusted earnings of $8.38 per share for the quarter ended June 30, well above the $6.01 analyst estimate (LSEG). Revenue hit $22.97 billion, surpassing the $20.73 billion consensus (CNBC). The company lifted its 2026 revenue guidance to $85 billion–$87 billion and narrowed its adjusted-EPS range to $35.50–$36.50.
Revenue Drivers: Mounjaro and Zepbound
The GLP-1 franchise drove growth. Mounjaro generated $9.94 billion worldwide—a 91 % YoY rise—with $4.8 billion from the U.S., beating the $4.44 billion forecast. International sales jumped 172 %, led by Brazil, China and India. Zepbound posted $4.93 billion, up 46 % year over year and ahead of the $4.69 billion U.S. expectation. Together the two drugs accounted for 64.7 % of total revenue.
New Product Performance: Foundayo
Lilly’s oral obesity pill Foundayo recorded $98 million in sales—the first quarter after its April 1 approval—slightly below the $103–$105.6 million expected range.
Official Statements from Eli Lilly Leadership
CEO Dave Ricks noted that consumer awareness and prescriptions for Foundayo had each doubled within a month. CFO Lucas Montarce highlighted a 60 % volume increase that helped offset lower realized prices (-13 % U.S., -36 % internationally).
Market Commentary and Criticism
Analysts pointed to the price declines but emphasized the strong volume growth. BMO Capital Markets remarked that Foundayo’s modest miss underscores competitive pressure from Novo’s oral Wegovy.
Conflicting Reports & Gaps
Revenue figures differ slightly across sources: CNBC and Reuters cite $22.97 billion, while Biospace reports a $23 billion figure with a 47.7 % YoY rise. Guidance language also varies, with Reuters noting a trim to the EPS top end and CNBC focusing on a $2.78-per-share uplift at the midpoint.
Data & Statistics
- Adjusted EPS: $8.38 vs. $6.01 estimate.
- Total revenue: $22.97 billion (CNBC/Reuters).
- Mounjaro worldwide sales: $9.94 billion (+91 %).
- Zepbound revenue: $4.93 billion (+46 %).
- Foundayo sales: $98 million (vs. $103–$105.6 million expected).
- U.S. market share for obesity/diabetes drugs: 60.9 %.
What’s Next
Lilly will host an earnings call at 10 a.m. ET on August 5. The company plans to file an FDA application for next-generation obesity candidate retatrutide in early 2027 and expects Medicare to expand GLP-1 coverage for seniors in July.
Verbatim Quote
- “It's a really strong start to the year for Lilly … it's hard to think of a time that we've been in a better position than this,” — CEO Dave Ricks
