Eli Lilly Reports Strong Q1 2026 Earnings and Raises Full-Year Guidance

Eli Lilly reported first-quarter earnings and revenue for 2026 that exceeded analyst expectations, according to the company's announcement on Thursday. The pharmaceutical company attributed the performance to increased demand for its weight loss drug Zepbound and diabetes treatment Mounjaro.

Shares of Eli Lilly rose more than 7% in premarket trading following the report. The company posted revenue of $19.80 billion for the quarter, a 56% increase from the same period a year earlier. This growth was driven by a 49% increase in product volume, primarily from Mounjaro and Zepbound, partially offset by lower realized prices for Zepbound and another medication.

Net income for the quarter was $7.40 billion, or $8.26 per share, compared to $2.76 billion, or $3.06 per share, in the prior year.

Lilly raised its full-year 2026 revenue guidance to between $82 billion and $85 billion, up from the previous range of $80 billion to $83 billion. The company also increased its adjusted profit outlook to between $35.50 and $37 per share, from $33.50 to $35 per share.

Adjusted earnings per share for the first quarter were $8.55, surpassing the $6.66 expected by analysts surveyed by LSEG. Mounjaro generated worldwide revenue of $8.66 billion in the quarter, a 125% increase year-over-year, exceeding analyst expectations of $7.26 billion according to StreetAccount.

In the U.S., Zepbound recorded $4.16 billion in sales, an 80% rise from the previous year, which was above the anticipated $4.04 billion.

Lilly holds a 60.1% share of the U.S. market for obesity and diabetes drugs in the first quarter, compared to 39.4% for Novo Nordisk, as stated in the company's earnings presentation. The company is working to maintain its position in the GLP-1 drug market.

The newly approved GLP-1 pill for obesity, Foundayo, launched in the second quarter of 2026, so its sales were not included in the first-quarter report.