8-KEarnings & ResultsExhibits & Filings

ELI LILLY & Co 8-K Report, Financial Results (Apr 24, 2014)

Filed April 24, 2014For Securities:LLY

Summary

Eli Lilly and Company (LLY) filed an 8-K on April 24, 2014, to report its first-quarter 2014 financial results. The filing primarily serves to attach a press release detailing these results and to inform investors about the company's use of non-GAAP financial measures. These non-GAAP measures, such as non-GAAP net income and earnings per share, are presented alongside GAAP figures to offer a clearer view of ongoing operations and facilitate meaningful comparisons over time by excluding highly variable or unpredictable items. Investors should note that the company utilizes these non-GAAP metrics for internal performance evaluation, resource allocation, and incentive compensation. While Lilly believes these measures provide valuable insights for investors in assessing operational trends, it is crucial for investors to consider them in conjunction with, and not as a replacement for, the standard GAAP financial measures. The information provided in this 8-K is furnished and not deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934.

Key Highlights

  • 1Filing of an 8-K to report Q1 2014 financial results, dated April 24, 2014.
  • 2The report includes a press release announcing Q1 2014 operational results and income statements.
  • 3Eli Lilly & Co. uses and explains its use of non-GAAP financial measures (e.g., non-GAAP net income, EPS).
  • 4Non-GAAP measures are presented to provide investors with insights into ongoing operations and facilitate period-over-period comparisons.
  • 5The company believes non-GAAP measures help identify operating trends that might be obscured by GAAP figures.
  • 6Management uses non-GAAP metrics internally for performance evaluation and resource allocation.
  • 7Information provided is furnished, not filed for Section 18 purposes.

Frequently Asked Questions

The main purpose of this 8-K filing is to officially report Eli Lilly & Company's financial results for the first quarter of 2014, which ended on March 30, 2013. It also serves to attach the press release and related financial statements that were issued to announce these results.

Non-GAAP financial measures, such as non-GAAP net income and earnings per share, are financial metrics that exclude certain items from the GAAP (Generally Accepted Accounting Principles) figures. Eli Lilly uses them because they believe these measures can provide investors with a clearer view of the company's ongoing operations and help in making more meaningful comparisons between different periods. These excluded items are often highly variable, difficult to predict, and can significantly impact reported results.

Investors should consider the non-GAAP financial measures presented by Eli Lilly in addition to, and not as a substitute for or superior to, the financial performance measures prepared in accordance with GAAP. The company emphasizes that these non-GAAP measures are intended to offer supplementary insights into operational trends and performance.

This 8-K filing itself does not contain the detailed financial figures. Instead, it directs investors to Exhibit 99.1, which is the press release dated April 24, 2014, containing the specific Q1 2014 results and related financial statements.