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Eli Lilly Updates 2019 Guidance To Reflect Elanco Disposition - Quick Facts

Eli Lilly and Company (LLY) reported that, in the first quarter of 2019, adjusted net income decreased 4 percent from a year ago, primarily driven by lower operating income. First-quarter operating income decreased 8 percent due to higher operating expenses, partially offset by higher gross margin. Also, the company has updated its 2019 outlook to reflect the disposition of Elanco and provide current expectations for the human pharmaceutical business.

In the first quarter of 2019, non-GAAP earnings per share was $1.33 compared to $1.31, prior year. On average, 11 analysts polled by Thomson Reuters expected the company to report profit per share of $1.32 for the quarter. Analysts' estimates typically exclude special items. Worldwide revenue was $5.09 billion, an increase of 3 percent compared with the first quarter of 2018. Analysts expected revenue of $5.22 billion for the quarter.

For 2019, on a reported basis, earnings per share are now projected to be in the range of $8.57 to $8.67. On a non-GAAP basis, earnings per share are now expected to be in the range of $5.60 to $5.70. Analysts expect the company to report profit per share of $5.64.

For 2019, the company anticipates revenue between $22.0 billion and $22.5 billion. Analysts expect the company to report revenue of $22.23 billion.

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