Filing Flows › ELI Lilly (LLY) › Q1 2026
ELI Lilly (LLY) Q1 2026 earnings results (first quarter 2026)
10-Q filed Apr 30, 2026
ELI Lilly (LLY) reported revenue of $19.8B for the first quarter 2026 (Q1 2026), +56% from a year earlier and +3% from the quarter before. Operating margin was 44.7%, net earnings $7.4B (37.4% of revenue).
ELI Lilly, Q1 2026: revenue $19.8B (+56% year over year), operating margin 44.7%, net earnings $7.4B, operating cash flow $5.3B. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $19.8B | +3% | +56% |
| Operating profit | $8.8B | +7% | +156% |
| Net earnings | $7.4B | +11% | +168% |
| Operating cash flow | $5.3B | +65% | +220% |
| Free cash flow | $3.0B | +344% | 19× |
What changed
Revenue was $19.8B in Q1 2026, up 56% year over year and up 3% from the previous quarter. Mounjaro was the largest line at 44% of revenue. Mounjaro added $4.8B year over year (up 125%), 68% of the total change. Trulicity declined 16%.
Operating profit was $8.8B, a 44.7% margin (up 17.5 points year over year). Of the extra revenue versus Q1 2025, 76% reached operating profit, above the 27% margin then. Total costs grew 18% against revenue growth of 56%. The fastest-growing cost line was Cost of revenue (+61%). Net earnings were $7.4B, up 168% year over year. The effective tax rate was 16.4%.
Operating cash flow was $5.3B (up 220% year over year), 72% of net earnings. Non-cash charges added back $0.51B of depreciation and amortization and $0.16B of share-based compensation. Working capital and other items used $2.7B. Capital expenditures of $2.3B left free cash flow of $3.0B.
Questions
What was ELI Lilly's revenue in the first quarter 2026?
ELI Lilly (LLY) reported revenue of $19.8B for the first quarter 2026 (Q1 2026), +56% from a year earlier and +3% from the quarter before.
Was ELI Lilly profitable in the first quarter 2026?
Operating profit was $8.8B (44.7% of revenue) and net earnings $7.4B.
Source: ELI Lilly 10-Q on SEC EDGAR.