Eli Lilly Reports Strong Q4 Earnings, Projects $80-83B Revenue for 2026

Eli Lilly reported Q4 EPS of $7.54 versus $6.67 expected and projected 2026 revenue of $80-83 billion. As of February 13, 2026, shares were trading at $1,040, just 5.8% below the stock's all-time high.

The company's GLP-1 franchise delivered strong results in Q4. Mounjaro revenue surged 110% to $7.4 billion, while Zepbound jumped 123% to $4.2 billion. Eli Lilly built a $1.5 billion stockpile of orforglipron, its oral GLP-1 candidate, ahead of an anticipated April 2026 FDA decision.

In October 2025, Lilly committed $1 billion to build a supercomputer with Nvidia designed to interrogate biology at scale. By January 2026, the companies had established a co-innovation lab that links clinical data with Nvidia's computational capabilities in real time. The Chief Scientific Officer noted the company "achieved positive outcomes for nearly all R&D key events in 2025, a rare set of results in this industry."

Eli Lilly became the first healthcare company to reach a $1 trillion market capitalization. Operating margins hit 45.6% with net margins of 31.7%. The company's AI platform gives it a competitive edge in drug discovery speed and cost efficiency.

Retail sentiment turned decisively bullish following the Q4 2025 earnings beat, with sentiment scores climbing from neutral (57.3) to bullish (65.7) over the past week. Quarterly revenue growth reached 42.6%.

Analysts maintain a consensus target of $1,201, with 18 analysts rating it Strong Buy and zero Sell ratings. Some see higher potential with a $1,350 price target. Novo Nordisk faces its own challenges, projecting -5% to -13% sales growth in 2026 amid pricing pressures.