Eli Lilly Reports Q4 Beat, Projects $80-83B Revenue as GLP-1 Sales Surge

Eli Lilly reported Q4 EPS of $7.54 versus $6.67 expected and projected 2026 revenue of $80-83 billion. The company projected 2026 profit of $33.50-$35 on strong weight-loss drug demand.

The company's GLP-1 franchise delivered staggering results in Q4. Mounjaro revenue surged 110% to $7.4 billion, while Zepbound revenue jumped 123% to $4.2 billion. Tirzepatide, the compound marketed as both Mounjaro for diabetes and Zepbound for weight loss, became the world's best-selling drug last year, even though it was only its third full year on the market.

Eli Lilly achieved operating margins of 45.6% and net margins of 31.7%. The company reported quarterly revenue growth of 42.6%. Eli Lilly became the first healthcare company to reach a $1 trillion market capitalization.

The company built a $1.5 billion stockpile of orforglipron, its oral GLP-1 candidate, ahead of an anticipated April 2026 FDA decision. Orforglipron is an oral GLP-1 medicine that could hit the market this year. Another pipeline candidate, retatrutide, looks promising based on the phase 3 data Lilly has revealed so far.

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."

As of February 13, 2026, shares of Eli Lilly were trading at $1,040, just 5.8% below the stock's all-time high. Analysts maintain a consensus target of $1,201, with 18 analysts rating it Strong Buy and zero Sell ratings. Some analysts see a $1,350 price target.

Beyond its core therapeutic areas in diabetes and weight loss, the company has products and pipeline candidates across many other areas, including oncology, immunology, and neuroscience. The company has increased its dividend payouts by 103.5% over the past five years.