Eli Lilly & Co. Files Q3 2024 10-Q Report

TL;DR

Lilly's Q3 10-Q is in! Check financials for Q3 2024.

AI Summary

Eli Lilly and Company (LLY) filed its 10-Q for the period ending September 30, 2024. The company reported its financial performance and provided updates on its business operations. Key financial details and operational highlights are presented in this filing.

Why It Matters

This filing provides investors and analysts with crucial financial data and operational insights into Eli Lilly's performance during the third quarter of 2024, impacting investment decisions.

Risk Assessment

Risk Level: medium — Quarterly reports can reveal shifts in financial health, product performance, or regulatory challenges that may impact stock price.

Key Players & Entities

• ELI LILLY & Co (company) — Filer of the 10-Q report
• 0000059478 (company) — Central Index Key for Eli Lilly & Co.
• 20240930 (date) — End of the reporting period for the 10-Q
• 20241030 (date) — Date the 10-Q was filed
• Indianapolis, IN (location) — Company's business and mailing address

FAQ

Filing Documents

• lly-20240930.htm (10-Q) — 2125KB
• lly-09302024x10qxex3111.htm (EX-31.1) — 10KB
• lly-09302024x10qxex3121.htm (EX-31.2) — 10KB
• lly-09302024x10qxexhibit321.htm (EX-32) — 7KB
• 0000059478-24-000245.txt ( ) — 10953KB
• lly-20240930.xsd (EX-101.SCH) — 50KB
• lly-20240930_cal.xml (EX-101.CAL) — 74KB
• lly-20240930_def.xml (EX-101.DEF) — 261KB
• lly-20240930_lab.xml (EX-101.LAB) — 655KB
• lly-20240930_pre.xml (EX-101.PRE) — 449KB
• lly-20240930_htm.xml (XML) — 2567KB

Financial Information

PART I. Financial Information 5 Item 1.

Financial Statements

Financial Statements 5 Consolidated Condensed Statements of Operations 5 Consolidated Condensed Statements of Comprehensive Incom e (Loss) 6 Consolidated Condensed Balance Sheets 7 Consolidated Condensed Statements of Shareholders' Equity 8 Consolidated Condensed Statements of Cash Flows 10 Notes to Consolidated Condensed Financial Statements 11 Item 2.

Management's Discussion and Analysis of Results of Operations and Financial Condition

Management's Discussion and Analysis of Results of Operations and Financial Condition 35 Executive Overview 35 Results of Operations 41 Financial Condition and Liquidity 45 Critical Accounting Estimates 46 Available Information on our Website 46 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 47 Item 4.

Controls and Procedures

Controls and Procedures 47

Other Information

PART II. Other Information 48 Item 1.

Legal Proceedings

Legal Proceedings 48 Item 1A.

Risk Factors

Risk Factors 48 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 48 Item 5. Other Information 48 Item 6. Exhibits 49

Forward-Looking Statements

Forward-Looking Statements This Quarterly Report on Form 10-Q and our other publicly available documents include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 (Exchange Act), and are subject to the safe harbor created thereby under the Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that do not relate solely to historical or current facts, and generally can be identified by the use of words such as "may," "could," "aim," "seek," "believe," "will," "expect," "project," "estimate," "intend," "target," "anticipate," "plan," "continue," or similar expressions or future or conditional verbs. Forward-looking statements inherently involve many risks and uncertainties that could cause actual results to differ from those expressed in forward-looking statements. Forward-looking statements are based on management's current plans and expectations, expressed in good faith and believed to have a reasonable basis. However, we can give no assurance that any expectation or belief will result or will be achieved or accomplished. Investors therefore should not place undue reliance on forward-looking statements. The following include some but not all of the factors that could cause actual results or events to differ from those anticipated: the significant costs and uncertainties in the pharmaceutical research and development process, including with respect to the timing and process of obtaining regulatory approvals; the impact and uncertain outcome of acquisitions and business development transactions and related costs; intense competition affecting our products, pipeline, or industry; market uptake of launched products and indications; continued pricing pressures and the impact of actions of governmental and private payers affecting pricing of, reimbursement for, and patient access to pharmaceuticals, or reporting obligations re

Financial Information

PART I. Financial Information

Financial Statements

Item 1. Financial Statements Consolidated Condensed Statements of Operations (Unaudited) ELI LILLY AND COMPANY AND SUBSIDIARIES (Dollars and shares in millions, except per-share data) Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Revenue (Note 2) $ 11,439.1 $ 9,498.6 $ 31,509.9 $ 24,770.7 Costs, expenses, and other: Cost of sales 2,170.8 1,860.1 6,014.5 5,294.2 Research and development 2,734.1 2,409.1 7,968.1 6,750.7 Marketing, selling, and administrative 2,099.8 1,803.9 6,169.3 5,478.5 Acquired in-process research and development (Note 3) 2,826.4 2,975.1 3,091.2 3,177.2 Asset impairment, restructuring, and other special charges (Note 5) 81.6 — 516.6 — Other–net, (income) expense (Note 12) ( 62.0 ) 23.2 108.5 24.3 9,850.7 9,071.4 23,868.2 20,724.9 Income before income taxes 1,588.4 427.2 7,641.7 4,045.8 Income taxes (Note 8) 618.1 484.6 1,461.5 995.1 Net income (loss) $ 970.3 $ ( 57.4 ) $ 6,180.2 $ 3,050.7 Earnings (loss) per share: Basic $ 1.08 $ ( 0.06 ) $ 6.86 $ 3.39 Diluted $ 1.07 $ ( 0.06 ) $ 6.83 $ 3.38 Shares used in calculation of earnings (loss) per share: Basic 901.0 899.8 900.9 900.2 Diluted 905.0 899.8 904.4 903.1 See notes to consolidated condensed financial statements. 5 Consolidated Condensed Statements of Comprehensive Income (Loss) (Unaudited) ELI LILLY AND COMPANY AND SUBSIDIARIES (Dollars in millions) Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Net income (loss) $ 970.3 $ ( 57.4 ) $ 6,180.2 $ 3,050.7 Other comprehensive income, net of tax (Note 11) 103.7 3.8 52.2 59.7 Comprehensive income (loss) $ 1,074.0 $ ( 53.6 ) $ 6,232.4 $ 3,110.4 See notes to consolidated condensed financial statements. 6 Consolidated Condensed Balance Sheets ELI LILLY AND COMPANY AND SUBSIDIARIES (Dollars in millions) September 30, 2024 December 31, 2023 Assets (Unaudited) Current Assets Cash and cash equivalents (Note 7) $ 3,369.0 $ 2,818

View Full Filing

View this 10-Q filing on SEC EDGAR