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7 August 2023

Elanco Animal Health Reports Second Quarter 2023 Results and Raises Full Year Guidance


Post by: Colleen Parr Dekker

  • Second Quarter 2023 Financial Results
    • Revenue of $1,057 million, impacted by an estimated $90-$110 million of revenue related to customer purchasing shifted from the second quarter into the first as a result of ERP system commercial ordering blackout period for legacy Bayer Animal Health products in April
    • Reported Net Loss of $(97) million, Adjusted Net Income of $90 million
    • Adjusted EBITDA of $222 million or 21.0% of Revenue
    • Reported EPS of $(0.20), Adjusted EPS of $0.18
    • Net leverage ratio of 5.9x Adjusted EBITDA
  • Raising full year 2023 guidance ranges to reflect current assumptions:
    • Revenue of $4,350 to $4,410 million
    • Reported Net Loss of $127 to $170 million, Reported diluted EPS of $(0.34) to $(0.26)
    • Adjusted EPS of $0.80 to $0.89, Adjusted EBITDA of $950 to $1,010 million
    • Net leverage ratio expected at 5.5x to 5.8x Adjusted EBITDA at year-end 2023
  • Announced the Environmental Protection Agency (EPA) completed its review of Seresto®, confirming continued registration

GREENFIELD, Ind (August 7, 2023) - Elanco Animal Health Incorporated (NYSE: ELAN) today reported financial results for the second quarter of 2023, provided guidance for the third quarter of 2023, and raised guidance for the full year 2023.

To view full Press Release, click here.

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