Eli Lilly Q2 2026: Mounjaro Fuels a 27% EPS Beat and Higher Guidance
As seen on the 24/7 Wall St. homepage on August 5, 2026.
Mounjaro nearly doubled to $9.94 billion, pushing Lilly to lift full-year revenue guidance to $85 billion to $87 billion. Retatrutide's filing in early 2027 is the next catalyst.
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Eli Lilly reported Q2 2026 earnings per share of $8.38, clearing the Wall Street consensus of $6.58 by 27%. Revenue came in at roughly $23 billion, beating estimates by about 11%, with Mounjaro alone nearly doubling to $9.94 billion. The blockbuster GLP-1 drug has become the clear engine of the company's growth, and the quarter's results underline how dominant it has become in a short period.
The strength prompted Lilly to raise its full-year revenue guidance to a range of $85 billion to $87 billion. That revision signals management's confidence that Mounjaro's momentum is durable through the back half of the year, not just a one-quarter spike. Looking at the recent EPS history, Lilly has now beaten consensus estimates in five of the last six quarters, with the sole miss coming in Q3 2024.
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The next event investors will be watching is the regulatory filing for retatrutide, Lilly's next-generation weight-loss candidate, which is expected in early 2027. If that timeline holds, it would keep Lilly's pipeline newsflow active well before the drug could reach the market, giving investors another potential catalyst beyond Mounjaro's ongoing ramp.
Mentioned: LLY