Post by: Colleen Parr Dekker
- Third quarter revenue increased 27 percent, benefiting from increased scale and diversification with the addition of Bayer Animal Health. On a pro forma combined company basis, Elanco's revenue grew approximately 6 percent, assuming the Bayer Animal Health acquisition had occurred on January 1, 2020.
- Third quarter revenue was $1,131 million, exceeding the midpoint of guidance by $44 million, due to strength in the global Farm Animal business and global Pet Health retail.
- Gross margin improved 530 basis points year over year to 55.6 percent on a reported basis, and 150 basis points to 55.7 percent on an adjusted basis.
- Reported earnings per share (EPS) was $(0.21), and adjusted EPS was $0.19.
- Updating full year 2021 financial guidance for diluted EPS of $(0.91) to $(0.83) on a reported basis, and reported net loss of $(405) to $(360) million.
- Raising full year 2021 financial guidance for revenue of $4,730 to $4,770 million, and maintaining full year 2021 financial guidance for adjusted EPS of $0.97 to $1.03, and adjusted EBITDA of $1,035 to $1,075 million, driving approximately 300 basis points in adjusted EBITDA margin expansion on a pro forma combined company basis.
- Providing financial guidance for the fourth quarter of 2021 with revenue of $1,078 to $1,118 million, diluted EPS of $(0.14) to $(0.07) on a reported basis, or $0.13 to $0.19 on an adjusted basis, reported net loss of $(65) to $(30) million, and adjusted EBITDA of $190 to $230 million.
GREENFIELD, Ind. (November 5, 2021) - Elanco Animal Health Incorporated (NYSE: ELAN) today reported financial results for the third quarter of 2021, provided guidance for the fourth quarter of 2021, and updated guidance for the full year 2021. The results reflect the inclusion of the Bayer Animal Health business Elanco acquired on August 1, 2020.
To view full Press Release, click here.
Colleen Parr Dekker