The GLP-1 trade isn't just about Lilly and Novo Nordisk anymore. We searched EarningsCalls.dev's archive and found 342 distinct calls mentioning "GLP-1" in the past 90 days — restaurants worrying about portion sizes, apparel companies targeting body-transformation customers, packaging companies losing snack-aisle volume, and a long tail of biotech challengers positioning around the incumbents.
Below are ten verbatim mentions from June 2026 calls. Read them as a cross-section of who's actually feeling the demand-side ripple.
1. Eli Lilly (LLY) — Health Care
Earnings call: 2026-06-09
The first amylin analog [and] the first GLP-1 analog [were] approved around the same time — pramlintide and exenatide — but it's taken us a little bit longer to get to a long-acting amylin with the molecular properties that we think we need for it to be the right clinical profile.
Lilly is talking about what comes after GLP-1: long-acting amylin analogs as the next molecular class. The franchise-defense playbook is now visible in the prepared remarks.
Read the full Eli Lilly transcript →
2. Stitch Fix (SFIX) — Consumer Discretionary
Earnings call: 2026-06-10
A great example of that is the success that we've had targeting clients that are likely on a GLP-1 medication and going through a body transformation.
Stitch Fix is openly naming GLP-1 patients as an acquisition target. Body-transformation cohorts buy more outfits, more sizes, more frequently — apparel retailers are starting to talk about this on the record.
Read the full Stitch Fix transcript →
3. Cracker Barrel (CBRL) — Consumer Discretionary
Earnings call: 2026-06-09
I'm wondering if you have seen any early signs from the usage of GLP-1, if there's any shift in guest ordering customization trends, if you have seen anything maybe on the order size.
The restaurant version of the same story. Sell-side analysts are now asking casual-dining operators about GLP-1-driven portion shrinkage by name. Whether the impact is real or imagined, the question changes how operators report mix.
Read the full Cracker Barrel transcript →
4. Wesfarmers (WES) — Consumer Discretionary
Earnings call: 2026-06-09
There's some GLP-1 tailwinds. How do you — I guess when you look forward, do you think that's sustainable? How do you think about inflation in the category and the launch of oral GLP-1s?
Wesfarmers owns Australia's largest pharmacy and supermarket footprint. Analysts are framing GLP-1 as a tailwind, not a headwind, for retail pharmacy revenue. The oral-GLP-1 launch question matters because pills change pharmacy economics vs. injectables.
Read the full Wesfarmers transcript →
5. Graphic Packaging (GPK) — Materials
Earnings call: 2026-06-09
Is it population trends? Is it GLP-1? Is it health and wellness? I think sometimes there's winners and losers within those buckets … sometimes we make healthier decisions and that means more around the perimeter [of the grocery store].
Packaging is the cleanest read on volume. GPK is explicitly flagging GLP-1 as one of three structural factors compressing center-store snack/confectionery volume — the "perimeter" reference is grocery shorthand for fresh.
Read the full Graphic Packaging transcript →
6. Ingersoll Rand (IR) — Industrials
Earnings call: 2026-06-10
Obviously, this is playing very large in single-use containment and technologies that are used in things like GLP-1s, APIs, personalization of medical treatments — things that have obviously been very [in] the news and continue to see very good growth traction.
The bioprocess-equipment angle. Every GLP-1 dose ramp pulls through demand for fill-finish, single-use bioreactors and aseptic containment. Ingersoll Rand calls it "very good growth traction" — read that as orders, not pipeline.
Read the full Ingersoll Rand transcript →
7. Madrigal Pharmaceuticals (MDGL) — Health Care
Earnings call: 2026-06-10
A large number of our patients are on a GLP-1 as well. So combination therapy is over 25% of patients are on.
Madrigal's MASH (liver disease) franchise is increasingly co-prescribed with GLP-1s. Over 25% combination-therapy uptake is a hard number worth tracking — it suggests GLP-1s are becoming a backbone, not a competitor, for adjacent metabolic indications.
Read the full Madrigal transcript →
8. Altimmune (ALT) — Health Care
Earnings call: 2026-06-10
One of the differentiating features of pemvidutide [is] this balanced agonism between GLP-1 and glucagon — how do you anticipate that could translate to the clinic? And perhaps you could couch that against also the servadutide programs in NASH?
Pemvidutide is the dual GLP-1/glucagon shot Altimmune is pushing for MASH + obesity. The analyst-vs-management exchange shows how the small-cap GLP-1 challengers are being benchmarked head-to-head against Boehringer's servadutide.
Read the full Altimmune transcript →
9. Arrowhead Pharmaceuticals (ARWR) — Health Care
Earnings call: 2026-06-10
The second [opportunity] would be combination therapy, add-on therapy with GLP-1s for — potentially for obesity.
Arrowhead's RNAi platform pivoting into GLP-1 combination is the same playbook as Madrigal: don't compete with the GLP-1, ride it. Every small-cap metabolic shop is being asked the same question.
Read the full Arrowhead transcript →
10. Omada Health (OMDA) — Health Care
Earnings call: 2026-06-10
We approach that with modularity and flexibility — [we can] migrate [a] new GLP-1 product [in] just a couple of months [on our] tech stack. So we don't need to go back and deploy tens of million[s] or reinvest to stand that up.
The digital-health angle. Omada is making the case that adding new GLP-1 SKUs to its chronic-care platform is a fixed-cost-free integration. Translation: every new approved GLP-1 is potential ARR with minimal incremental engineering.
Read the full Omada Health transcript →
The map
Plot these ten companies by what GLP-1 actually means to them and you get four buckets:
| Bucket | Companies | Mechanism |
|---|---|---|
| Demand tailwind | Stitch Fix, Wesfarmers, Ingersoll Rand, Omada Health | More buyers, more doses, more SKUs |
| Demand headwind | Cracker Barrel, Graphic Packaging | Smaller portions, less snacking |
| Franchise defense | Eli Lilly | Build the next molecular class |
| Adjacent / combo positioning | Madrigal, Altimmune, Arrowhead | Combine with GLP-1, don't compete |
This is the kind of cross-sector map you can only build if you have access to the actual transcripts — not the headline pharma names.
How we built this list
We queried EarningsCalls.dev for GLP-1 across all earnings call transcripts in the past 120 days, sorted by sector to keep the list cross-industry, and pulled a verbatim excerpt. The same data is exposed via search, list, and full-transcript endpoints.
curl https://earningscalls.dev/api/v1/search \
-H "Authorization: Bearer YOUR_KEY" \
--data-urlencode 'q=GLP-1' \
--data-urlencode 'date_from=2026-03-01'