real-time news and commentary for investors
Thursday, Oct 3
Eli Lilly reaffirms outlook, talks buybacks, challenges
- Eli Lilly (LLY) plans to "return the company to revenue growth and expanding margins after 2014," the company's top brass says.
- LLY is also reaffirming its near-term revenue, net income, and operating cash flow goals, saying it expects $20B in sales, $3B in net income, and $4B in cash flow through the end of next year.
- Also announced is a new $5B buyback.
- The company also reminds investors that this year has seen "a record seven regulatory submissions of four molecules."
- The stock is off around 1% in premarket trading however, likely due to the company's use of the word "challenging" to describe its chances of hitting the $20B revenue goal. (PR)