Summary
Eli Lilly & Company (LLY) filed an 8-K on December 17, 2019, to announce updates to its financial guidance for 2019, reaffirm its financial expectations through the end of the decade, and provide initial guidance for 2020. The company also held a teleconference to discuss these financial projections. This filing is important for investors as it offers a forward-looking perspective on the company's expected performance and strategic financial outlook. The company highlighted its use of non-GAAP financial measures, which exclude items such as amortization of intangibles and other highly variable or unpredictable costs. Lilly believes these non-GAAP metrics provide a clearer view of ongoing operational performance, aiding investors in making more meaningful period-over-period comparisons and identifying underlying business trends. Investors are advised to consider these non-GAAP measures alongside, but not as a substitute for, traditional GAAP financial reporting.
Key Highlights
- 1Updated 2019 financial guidance released.
- 2Reaffirmed financial expectations through the remainder of the decade.
- 3Provided initial financial guidance for the fiscal year 2020.
- 4Company held a teleconference to discuss financial guidance with analysts and media.
- 5Eli Lilly utilizes non-GAAP financial measures, excluding amortization of intangibles and other variable items, to provide insights into ongoing operations.
- 6Non-GAAP measures are presented to aid in evaluating operational trends and making period-over-period comparisons.
- 7Information furnished in this 8-K, including the press release, is not considered 'filed' for Section 18 purposes and is not incorporated by reference into other SEC filings.