Filing Flows › ELI Lilly (LLY) › Q1 2025
ELI Lilly (LLY) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 1, 2025
ELI Lilly (LLY) reported revenue of $12.7B for the first quarter 2025 (Q1 2025), +45% from a year earlier and -6% from the quarter before. Operating margin was 27.2%, net earnings $2.8B (21.7% of revenue).
ELI Lilly, Q1 2025: revenue $12.7B (+45% year over year), operating margin 27.2%, net earnings $2.8B, operating cash flow $1.7B. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $12.7B | -6% | +45% |
| Operating profit | $3.5B | -31% | +36% |
| Net earnings | $2.8B | -37% | +23% |
| Operating cash flow | $1.7B | -33% | +43% |
| Free cash flow | $156M | -84% | -13% |
What changed
Revenue was $12.7B in Q1 2025, up 45% year over year and down 6% from the previous quarter. Mounjaro was the largest line at 30% of revenue. Mounjaro added $2.0B year over year (up 113%), 51% of the total change. Trulicity declined 25%.
Operating profit was $3.5B, a 27.2% margin (down 1.8 points year over year). Of the extra revenue versus a year earlier, 23% reached operating profit, below the 29% margin then. Total costs grew 49% against revenue growth of 45%. The fastest-growing cost line was Other operating costs (+2113%). Net earnings were $2.8B, up 23% year over year. The effective tax rate was 20.2%.
Operating cash flow was $1.7B (up 43% year over year), 60% of net earnings. Non-cash charges added back $0.46B of depreciation and amortization and $0.15B of share-based compensation. Working capital and other items used $1.7B. Capital expenditures of $1.5B left free cash flow of $0.16B.
Questions
What was ELI Lilly's revenue in the first quarter 2025?
ELI Lilly (LLY) reported revenue of $12.7B for the first quarter 2025 (Q1 2025), +45% from a year earlier and -6% from the quarter before.
Was ELI Lilly profitable in the first quarter 2025?
Operating profit was $3.5B (27.2% of revenue) and net earnings $2.8B.
Source: ELI Lilly 10-Q on SEC EDGAR.