Filing Flows › ELI Lilly (LLY) › Q2 2026 › vs Q1 2026
ELI Lilly (LLY) Q2 2026 vs Q1 2026 (quarter over quarter)
ELI Lilly's revenue rose $3.2B (+16%) from $19.8B in Q1 2026 to $23.0B in Q2 2026. Operating margin 40.2% against 44.7% (-4.4 pts).
ELI Lilly, Q2 2026: revenue $23.0B (+48% year over year), operating margin 40.2%, net earnings $7.1B, operating cash flow $10.7B. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Operating margin | 40.2% | 44.7% | -4.4 pts |
| Net margin | 30.9% | 37.4% | -6.5 pts |
| Free cash flow margin | 33.8% | 15.2% | +18.6 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Revenue | $23.0B | $19.8B | $3.2B | +16% |
| Operating profit | $9.2B | $8.8B | $397M | +4% |
| Costs & expenses | $13.7B | $10.9B | $2.8B | +25% |
| Pre-tax earnings | $9.2B | $8.8B | $397M | +4% |
| Cost of revenue | $3.3B | $3.6B | −$309M | -9% |
| Research & development | $3.8B | $3.5B | $309M | +9% |
| SG&A | $3.4B | $2.9B | $496M | +17% |
| Other operating costs | $3.2B | $928M | $2.3B | +246% |
| Net earnings | $7.1B | $7.4B | −$301M | -4% |
| Income tax | $2.2B | $1.5B | $698M | +48% |
| Depreciation & amortization | $534M | $509M | $25.0M | +5% |
| Share-based compensation | $201M | $161M | $40.0M | +25% |
| Working capital & other | $2.9B | −$2.7B | $5.6B | — |
| Operating cash flow | $10.7B | $5.3B | $5.4B | +100% |
| Free cash flow (OCF − capex) | $7.8B | $3.0B | $4.8B | +158% |
| Capital expenditures | $2.9B | $2.3B | $607M | +26% |
Questions
How much did ELI Lilly's revenue grow quarter over quarter in Q2 2026?
ELI Lilly's revenue rose $3.2B (+16%) from $19.8B in Q1 2026 to $23.0B in Q2 2026. Operating margin 40.2% against 44.7% (-4.4 pts).