Earnings ReliabilityThe company missed expectations for two quarters in a row, raising questions about the reliability of its guidance.
Guidance CutLilly's management announced a guidance cut for 2024, reducing expected revenue by $700M at the midpoint to ~$45B, driven by lower than expected growth for Mounjaro and Zepbound and lower channel inventory stocking.
Revenue ShortfallQ4 revenues came in lower than estimates, driven by misses in key products Mounjaro and Zepbound.