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Eli Lilly Boost FY20 Adj. EPS Outlook - Quick Facts

While reporting financial results for the second quarter on Thursday, Eli Lilly and Co. (LLY) on Thursday raised its adjusted earnings guidance for the full year 2020, reflecting expectations of lower marketing, selling and administrative expenses, higher other income and a lower effective tax rate. However, the company maintained its annual revenue outlook.

For fiscal 2020, the company now projects earnings in a range of $6.48 to $6.68 per share and adjusted earnings in a range of $7.20 to $7.40 per share.

Previously, the company expected earnings in the range of $6.20 to $6.40 per share and adjusted earnings in a range of $6.70 to $6.90 per share.

However, the company still anticipates 2020 revenue between $23.7 billion and $24.2 billion.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $6.81 per share on revenues of $24.01 billion for the year. Analysts' estimates typically exclude special items.

The company said there is uncertainty in its 2020 financial guidance surrounding the extent and duration of the impact of the COVID-19 pandemic.

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