Filing Flows › ELI Lilly (LLY) › Q2 2026
ELI Lilly (LLY) Q2 2026 earnings results (second quarter 2026)
10-Q filed Aug 5, 2026
ELI Lilly (LLY) reported revenue of $23.0B for the second quarter 2026 (Q2 2026), +48% from a year earlier and +16% from the quarter before. Operating margin was 40.2%, net earnings $7.1B (30.9% of revenue).
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 follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $23.0B | +16% | +48% |
| Operating profit | $9.2B | +4% | +36% |
| Net earnings | $7.1B | -4% | +25% |
| Operating cash flow | $10.7B | +100% | +246% |
| Free cash flow | $7.8B | +158% | +458% |
What changed
Revenue was $23.0B in Q2 2026, up 48% year over year and up 16% from the previous quarter. Mounjaro was the largest line at 43% of revenue. Mounjaro added $4.7B year over year (up 91%), 64% of the total change. Verzenio declined 1%.
Operating profit was $9.2B, a 40.2% margin (down 3.3 points year over year). Of the extra revenue versus Q2 2025, 33% reached operating profit, below the 44% margin then. Total costs grew 56% against revenue growth of 48%. The fastest-growing cost line was Other operating costs (+1216%). Net earnings were $7.1B, up 25% year over year. The effective tax rate was 23.3%.
Operating cash flow was $10.7B (up 246% year over year), 151% of net earnings. Non-cash charges added back $0.53B of depreciation and amortization and $0.20B of share-based compensation. Working capital and other items added $2.9B. Capital expenditures of $2.9B left free cash flow of $7.8B.
Questions
What was ELI Lilly's revenue in the second quarter 2026?
ELI Lilly (LLY) reported revenue of $23.0B for the second quarter 2026 (Q2 2026), +48% from a year earlier and +16% from the quarter before.
Was ELI Lilly profitable in the second quarter 2026?
Operating profit was $9.2B (40.2% of revenue) and net earnings $7.1B.
Source: ELI Lilly 10-Q on SEC EDGAR.