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Full earnings analysis

Research updated: Jul 11, 2026, 12:00 AM UTC

Eli Lilly and (LLY) Q1 2026

Lilly reported first-quarter 2026 results, raised full-year guidance and highlighted Mounjaro, Zepbound, orforglipron and broader pipeline progress.

Reported outcomes

Revenue
US$19.799 billion
Up 56% year over year
Reported diluted EPS
US$8.26
Up 170% year over year
Revenue volume effect
+65%
Year-over-year contribution, partly offset by a 13% lower realized-price effect

Management guidance

  • Lilly raised 2026 revenue guidance to US$82-US$85 billion and non-GAAP EPS guidance to US$35.50-US$37.00.

Risks that still need monitoring

  • Product concentration

    Growth increasingly depends on Mounjaro and Zepbound, increasing exposure to competitive, safety, reimbursement or execution setbacks affecting these products.

  • Pricing pressure

    Lower realized prices, reimbursement negotiations and government pricing measures can offset prescription-volume growth.

  • Development and manufacturing execution

    Pipeline failures, regulatory delays or insufficient manufacturing capacity could constrain anticipated growth.

Market reaction

+13.17%

2026-04-29 $851.21 → 2026-05-01 $963.33

Method: previous trading-day close to the first full trading-day close after the announcement.

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Primary sources

Lilly Reports First-Quarter 2026 Financial ResultsEli Lilly and Company · earningsVerified

Fetched: Jul 11, 2026, 12:00 AM UTC

Published: Apr 30, 2026, 12:00 AM

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Eli Lilly Investor RelationsEli Lilly and Company · companyVerified

Fetched: Jul 11, 2026, 12:00 AM UTC

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Form 10-Q for the Quarter Ended March 31, 2026Eli Lilly and Company · filingVerified

Fetched: Jul 11, 2026, 12:00 AM UTC

Published: Apr 30, 2026, 12:00 AM

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LLY editorial research profileAlphaVue Research · editorialVerified

Fetched: Jul 11, 2026, 12:00 AM UTC

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