LLY's shares slip more than 6% as it cuts outlook for 2024 sales. Preliminary fourth-quarter revenues fall short of estimates.

Eli Lilly and Company (NYSE:LLY) announced on Tuesday that the pharmaceuticals company expects Q4 2024 revenue to be ~$13.5B, about $400M below the lower end of its recently issued financial guidance.

Eli Lilly (LLY) shares traded down more than 6% Tuesday after the company reported revenue guidance for the fourth quarter of 2024 that missed Wall Street expectations. Lilly revised its revenue guidance down 5%,

Eli Lilly trims Q4 guidance but maintains optimism with promising drugs like Zepbound for sleep apnea and global launches boosting long-term growth.

BofA maintained LLY at Buy and a price target of $997.0, but said it was reviewing its estimates on the stock.

Eli Lilly and Co (NYSE: LLY) announced that it expects 2024 full-year worldwide revenue to be approximately $45.0 billion, representing a 32% growth compared to the previous year versus the consensus of $45.

There's still a lot to like about Eli Lilly stock, an analyst said Wednesday after the weight-loss drugs kingpin cut its sales view.

Key Takeaways Eli Lilly shares could remain under the microscope on Wednesday after falling sharply Tuesday as the pharmaceutical giant lowered its 2024 full-year revenue forecast.This tepid outlook adds to concerns about moderating demand for its flagship weigh-loss drugs.

Citing lower-than-expected sales for its weight-loss medicine Zepbound and diabetes treatment Mounjaro, Eli Lilly ( NYSE:LLY) revised its fourth-quarter revenue projection downward. Now estimating Q4 revenue at $13.5 billion, the company's projection falls short of analyst predictions of $13.96 billion.