July 2026 is the heaviest healthcare earnings month of the year. Seven of the largest healthcare names — Johnson & Johnson, UnitedHealth, Merck, AbbVie, Pfizer, Bristol Myers Squibb, and Eli Lilly — report between July 6 and July 23, with GLP-1, immunology, and managed-care MLR as the dominant themes. Here is the full healthcare earnings calendar for July 2026 with what to watch on every print.
Johnson & Johnson (JNJ) — Monday, July 6, 7:00 AM EDT
Current price ~$165. Watch pharmaceutical segment growth, consumer health margin stability, and the medical-device recovery. The bull case rests on a diversified pipeline absorbing GLP-1 headwinds; the bear case is patent cliffs on legacy biologics and Stelara biosimilar erosion. Upside lever: medical-device rebound plus biotech M&A.
UnitedHealth Group (UNH) — Monday, July 6, 7:00 AM EDT
Current price ~$510. The two numbers that matter: medical loss ratio (MLR) on the UnitedHealthcare side, and Optum revenue mix — now over 50% of group revenue. Q2 is seasonally the strongest MLR quarter. Risk: regulatory pushback on prior authorization and PBM scrutiny. Upside: AI/data-analytics monetization through Optum Health and Optum Rx.
Merck (MRK) — Tuesday, July 14, 8:00 AM EDT
Current price ~$105. Keytruda sustainability is the entire story. Watch non-Keytruda revenue acceleration, PARP inhibitor traction, and bi-specifics pipeline progress. The peak-sales concern is real, but the pipeline is genuinely deep. International oncology pricing power is the upside lever.
AbbVie (ABBV) — Tuesday, July 14, 8:00 AM EDT
Current price ~$195. Post-Humira, the story is Rinvoq and Skyrizi in immunology plus Allergan aesthetics (Botox). Rinvoq is the inflection — watch revenue growth and operating-margin trajectory. Headwind: Botox biosimilar competition. Upside: faster Rinvoq adoption and international aesthetics expansion.
Pfizer (PFE) — Wednesday, July 15, 8:00 AM EDT
Current price ~$32. Pfizer is mid-transition from COVID windfall to Seagen-driven oncology. Model Comirnaty at ~80% YoY decline; the real question is oncology execution (Xeljanz, Vyndaqel, Seagen ADC portfolio). Dividend sustainability is the trader's question for this print.
Bristol Myers Squibb (BMY) — Thursday, July 23, 8:00 AM EDT
Current price ~$91. Mature Celgene synergy phase. Watch immunology and oncology revenue growth, R&D efficiency, and free cash flow generation. Risk: patent cliff on legacy oncology drugs. Upside: synergy capture exceeding plan plus new immunology approvals.
Eli Lilly (LLY) — Thursday, July 23, 8:30 AM EDT
Current price ~$890. This is the GLP-1 print of the quarter. Mounjaro/Zepbound growth (>40% YoY), gross-margin expansion from manufacturing scale, and obesity-market penetration are the three numbers that matter. Risk: Novo Nordisk pricing retaliation and capacity constraints. Upside: $950+ on a meaningful EPS beat. LLY broke $800 in June — watch for a breakout extension.
How to trade healthcare earnings in July 2026
Three setups dominate: (1) the LLY/NVO GLP-1 pair trade around July 23, (2) the UNH MLR read setting the tone for the managed-care basket on July 6, and (3) the Merck/AbbVie/Pfizer immunology and oncology cluster on July 14–15. Implied volatility on LLY and UNH typically runs 15–20% above the season average — selling premium on directional convictions is viable, but size for the LLY tail.
Use this on Earnings Compass
Frequently asked questions
- When does Eli Lilly report Q2 2026 earnings?
- Eli Lilly (LLY) reports on Thursday, July 23, 2026 at 8:30 AM EDT. The focus is Mounjaro/Zepbound (GLP-1) sales trajectory, gross-margin expansion, and obesity-market penetration.
- When does UnitedHealth report Q2 2026 earnings?
- UnitedHealth Group (UNH) reports on Monday, July 6, 2026 at 7:00 AM EDT. Watch medical loss ratio (MLR) and Optum contribution margins.
- When does Johnson & Johnson report Q2 2026 earnings?
- Johnson & Johnson (JNJ) reports on Monday, July 6, 2026 at 7:00 AM EDT. Pharma growth, Stelara biosimilar erosion, and medical-device recovery are the key reads.
- Which healthcare stocks report earnings in July 2026?
- The major July 2026 healthcare reports are JNJ and UNH on July 6, MRK and ABBV on July 14, PFE on July 15, and BMY and LLY on July 23.
- What is the most-watched healthcare print in July 2026?
- Eli Lilly (LLY) on July 23 is the most-watched healthcare print, as it sets the tone for the entire GLP-1 / obesity-drug complex including Novo Nordisk.