Eli Lilly Shares Slide1.8% As 2015 Guidance Lags Estimates

Eli Lilly and Co. said it expects 2015 per-share earnings to range from $2.40 to $2.50 on a reported basis, and to range from $3.10 to $3.20 on a non-GAAP basis, falling slightly short of the FactSet consensus of $3.25. The company said it expects revenue for the year to range from $20.3 billion to $20.8 billion, also below the current FactSet consensus of $20.959 billion. For 2014, the company is expecting per-share earnings of $2.15 to $2.23, down from earlier guidance of $2.36 to $2.44. "This revision is due to fourth-quarter global restructuring charges in an effort to reduce the company's cost structure and acquired in-process research and development charges associated with the Adocia collaboration," the company said in a statement. Non-GAAP earnings are still expected to range from $2.72 to $2.80. The FactSet consensus is for adjusted earnings of $2.78. Shares were down 1.8% in premarket trade and are down 8.6% in the last three months, while the S&P 500 has gained 3.5%.