Why Eli Lilly (LLY) Shares Are Trading Lower Today - Eli Lilly (NYSE:LLY)

Eli Lilly And Co LLY has reported Q3 sales of $6.94 billion, +2% Y/Y beating the consensus of $6.91 billion.
Lilly's revenue increased 7% on a constant currency basis, primarily driven by volume growth of key growth products, partially offset by lower realized prices and lower Alimta revenue following the entry of generics.
Total worldwide volume in Q3 2022 increased by 14%.
Key growth products - Verzenio, Trulicity, Mounjaro, Jardiance, Taltz, Emgality, Retevmo, Cyramza, Tyvyt, and Olumiant - grew 19% and represented 70% of revenue in Q3, excluding revenue from COVID-19 antibodies.
Revenue from COVID-19 antibodies reached $386.6 million compared with $217.1 million a year ago.
Adjusted EPS increased 12% to $1.98, beating the consensus of $1.92.
Guidance: Eli Lilly lowered FY22 adjusted EPS guidance to $7.70-$7.85 from previous guidance of $7.90-$8.05 and below the consensus of $8.08, reflecting forex impacts.
The company forecasts FY22 sales of $28.5-$29.0 billion compared to previous guidance of $28.8-$29.3 billion and a consensus of $28.27 billion.
Price Action: LLY shares are down 3.06% at $351 premarket on the last check Tuesday.

Momentum41.15

Growth81.82

Quality92.14

Value2.10

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Eli Lilly Says Q3 Earnings Supported By Key Products and Volume, Cuts FY22 Outlook