Eli Lilly & Co. has delivered a stellar performance in its second-quarter results, which has sent its shares surging by as much as 14%, marking the most significant intraday gain in a year.
Q2 2026 results
Eli Lilly is held in the US Starter Pack. The company reported June quarter results before the open on Wednesday 5 August.
| Metric | Actual | Prior year |
| Revenue | $22.97bn | $15.56bn |
| Non-GAAP EPS | $8.38 | $6.31 |
| Mounjaro sales | $9.94bn | $5.20bn |
| FY26 revenue guidance | $85 to 87bn | prior $82 to 85bn |
Worldwide revenue rose 48 percent to $22.97 billion, roughly $2.2 billion ahead of consensus estimates that clustered between $20.6 and $20.9 billion. Non-GAAP EPS of $8.38 rose 33 percent and cleared estimates ranging from $6.01 to $6.58. Reported EPS was $7.94. Both figures carry $3.03 per share of acquired in-process research and development, mostly for the Orna Therapeutics and Ajax Therapeutics acquisitions, which Lilly does not add back in its non-GAAP measure.
The incretins carried the quarter. Mounjaro sales rose 91 percent to $9.94 billion, split $4.8 billion in the US and $5.2 billion outside it, where growth reached 172 percent after the drug joined China’s national reimbursement list. Zepbound rose 46 percent to $4.93 billion. Foundayo, the branded launch of oral GLP-1 orforglipron, contributed $98 million in its first quarter. Kisunla reached $167 million and Ebglyss $201 million.
Volume did the work while price moved against Lilly. Total growth of 48 percent breaks down as 60 percent volume and negative 13 percent price. US revenue rose 33 percent on 37 percent volume and negative 3 percent price, though Lilly noted US price would have declined about 9 percent without rebate and discount estimate adjustments. Outside the US, volume rose 113 percent against a 36 percent price decline. Gross margin improved 1.5 points to 85.8 percent and research spending rose 14 percent to $3.82 billion.
Lilly raised full-year revenue guidance to $85 to $87 billion from $82 to $85 billion and lifted the performance margin range. Non-GAAP EPS guidance narrowed to $35.50 to $36.50 from $35.50 to $37.00, with the company explaining that $2.78 of underlying improvement was offset by the $3.03 of acquired IPR&D. The company committed a further $4.5 billion to Indiana manufacturing and opened its first dedicated genetic medicine facility.
David Ricks pointed to retatrutide, saying Lilly now holds the complete clinical data package for obesity, sleep apnoea and knee osteoarthritis pain, with a filing planned for the first quarter of 2027.
Shares closed up 4.9 percent at $1,169.86, having traded as high as $1,216.94 during the session.
