Eli Lilly — Oct 30, 2024 release

Other income (expense) is now expected to be in a range of ($425) to ($325) million of expense on a reported basis and is still expected to be in a range of ($400) to ($300) million of expense on a non-GAAP basis. The updated reported guidance reflects net gains on investments in equity securities in Q3 2024. Tax rate guidance is now approximately 17% on both a reported and non-GAAP basis, driven by the impact of non-deductible acquired IPR&D charges in Q3 2024. Based on these changes, EPS guidance has been lowered to the ranges of $12.05 to $12.55 on a reported basis and $13.02 to $13.52 on a non-GAAP basis. The company's 2024 financial guidance reflects adjustments shown in the reconciliation table below. 10 2024 Guidance (1) Earnings per share (reported) $12.05 to $12.55 Amortization of intangible assets .49 Asset impairment, restructuring, and other special charges .45 Net losses on investments in equity securities .03 Earnings per share (non-GAAP) $13.02 to $13.52 Numbers may not add due to rounding (1) Reported and Non-GAAP EPS guidance both include $3.33 of acquired IPR&D charges incurred through Q3 2024. The following table summarizes the company's 2024 financial guidance: 2024 Guidance (1) Prior Updated (3) Revenue $45.4 to $46.6 billion $45.4 to $46.0 billion (Gross Margin - OPEX (2) ) / Revenue: (reported) 36% to 38% unchanged (non-GAAP) 37% to 39% unchanged Other Income/(Expense) (reported) ($525) to ($425) million ($425) to ($325) million Other Income/(Expense) (non-GAAP) ($400) to ($300) million unchanged Tax Rate