[Eli Lilly and Q3 2026 Earnings Call] Lilly Raises 2026 Revenue Guidance to $91–92 Billion After Mounjaro and Zepbound Combined Revenue Tops $16 Billion
Eli Lilly reported Q3 2026 revenue of $24.5B, up 39% YoY, and raised full-year guidance to $91-92B. Mounjaro and Zepbound combined for $16B in revenue. CEO Dave Ricks cited strong growth in new pharmaceutical categories. Non-GAAP EPS was $7.48, including $4.57 in acquired R&D charges. The company expects continued volume growth but notes 2026 benefited from $2B in one-time items.
How this was made
The 30-second read
Why it matters
The guidance lift is likely to trigger buying interest and could spark re‑rating by analysts.
Market read
First‑report earnings guidance raise for a large‑cap pharma; high relevance for equity traders.
What to watch
Net realized price headwinds and upcoming one‑time items could temper growth.
Background
Eli Lilly reported Q3 2026 results with 39% YoY revenue growth and announced a significant guidance raise.
Ticker impact
Eli Lilly raised its FY2026 revenue guidance to $91‑92 B after Q3 revenue of $24.5 B, driven by $16 B from Mounjaro and Zepbound.
upward pressure as investors price in higher revenue outlook
The $10 B guidance increase is material for a large‑cap pharma and was disclosed for the first time.
Market effects
Boosts outlook for the broader biotech/pharma sector, especially GLP‑1 peers.
Positive for US healthcare stocks; may lift European pharma ADRs.
Reinforces bullish bias on obesity‑treatment market worldwide.
Counterpoint
Guidance may be overstated if one‑time milestone items fade; price could correct on earnings volatility.
Key entities
- companyEli Lilly
US‑listed pharmaceutical giant (LLY).
- productMounjaro
Lilly's obesity/diabetes drug contributing major revenue.
- productZepbound
Lilly's weight‑loss therapy adding to revenue growth.
