Eli Lilly (LLY) shares rose 6.6% on October 29, 2026, while the S&P 500 fell 0.3%, after the company reported third-quarter adjusted EPS of $7.48 against a $5.68 estimate and revenue of $24.4 billion against $22.6 billion. Revenue grew 39% from a year earlier, and Mounjaro and Zepbound together brought in more than $16 billion. About $900 million of the quarter’s revenue came from one-time items, such as milestone payments and changes to rebate and discount estimates; without them, revenue would have been about $23.5 billion, still above estimate. Management raised its 2026 revenue forecast to $91–92 billion, though news reports said the profit forecast was trimmed due to deal charges. The $1,373.70 close was the stock’s highest in 365 days, and it returned 18.7% from September 30 to October 29, against about 1% for the S&P 500.
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Eli Lilly shares rose over 6% to about $1,370, a record closing high, after third-quarter revenue jumped 39% year over year to $24.4 billion, above the LSEG consensus of $22.6 billion. Adjusted EPS rose 6.6% to $7.48, beating analysts' $6.26 estimate, though a sizable acquisition-related accounting charge held back annual profit growth. Adjusted gross margin reached 84.4%, up from 83.6% a year earlier. Mounjaro revenue climbed 65% to $10.7 billion and Zepbound rose 49% to $5.35 billion, as higher patient volumes more than offset lower realized prices. The price target was raised to $1,500 from $1,300 and the 2 rating was reiterated, with shares up more than 50% since the April 29 close.
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