Summary
Eli Lilly and Company (LLY) filed an 8-K on December 19, 2018, to announce updates to its financial guidance. The company reaffirmed its financial expectations for the remainder of the decade and provided initial financial guidance for 2019. This filing also detailed their use of non-GAAP financial measures, which exclude items such as amortization of intangibles and other highly variable or unpredictable expenses. Lilly believes these non-GAAP measures offer investors a clearer view of ongoing operations and aid in period-over-period comparisons, as management also uses them for internal performance evaluation and resource allocation. While specific numerical guidance figures are not detailed within the provided text of the 8-K itself (as they are contained in the attached press release, Exhibit 99.1), the core message is one of confidence in future performance. Investors should note that the information furnished in this Item 2.02 is considered non-filed for certain SEC liability purposes, and the detailed financial guidance should be reviewed in the accompanying press release.
Key Highlights
- 1Eli Lilly updated its financial guidance for 2018.
- 2The company reaffirmed its financial expectations through the end of the decade.
- 3Initial financial guidance for the fiscal year 2019 was announced.
- 4Lilly utilizes non-GAAP financial measures to provide a clearer operational view.
- 5Non-GAAP measures exclude items like amortization of intangibles and other unpredictable costs.
- 6Management uses non-GAAP measures for internal performance evaluation and resource allocation.
- 7The press release containing detailed guidance is attached as Exhibit 99.1.