Eli Lilly Beats EPS Estimates By 1 Cent (LLY)

Indianapolis, Indiana-based Eli Lilly and Company LLY announced on Thursday morning that it beat consensus Wall Street estimates. Eli Lilly and Company reported that its 4th quarter net income climbed 28% to $1.17 billion, or $1.05 per share, up from $915.4 million, or 83 cents per share, a year earlier. Excluding special items, the company's earnings came in at $1.11 per share. Eli Lilly and Company reported revenue of $6.19 billion, up 4% from $5.93 billion a year earlier. According to a survey of analysts by Thomson Reuters, the average Wall Street estimate called for earnings of $1.10 per share, on revenue of $5.99 billion. Chairman and chief executive officer John C. Lechleiter said, "Lilly's fourth quarter results capped a year of solid financial performance in which we achieved volume-driven revenue growth along with good expense control. These results allowed us to deliver attractive earnings growth and a healthy dividend for our shareholders, while still investing in the research and development and business development activities that will enable us to bring the next generation of new medicines to patients." Eli Lilly and Company (LLY) closed the previous trading day at $34.95 per share. Analysts covering the company's stock give it a consensus price target of $34.89 per share. Eli Lilly and Company is a leading innovation-driven corporation that is developing a growing portfolio of pharmaceutical products by applying the latest research from its own worldwide laboratories and from collaborations with eminent scientific organizations. Read more from Benzinga's Company news.