Post by: Colleen Parr Dekker
- Third Quarter 2023 Financial Results
- Revenue of $1,068 million, representing 4% reported growth or 5% excluding the impact of foreign exchange rates
- Reported Net Loss of $1,096 million, inclusive of a non-cash goodwill impairment charge of $1,042 million primarily related to increased long-term treasury rates
- Adjusted EBITDA of $214 million, or 20.0% of Revenue
- Reported EPS of $(2.22) inclusive of a $(2.10) per share impact of goodwill impairment charge, Adjusted EPS of $0.18
- Net leverage ratio of 5.7x Adjusted EBITDA
- Updating full year 2023 guidance to reflect third quarter outperformance offset by expected unfavorable impact of foreign exchange rates:
- Revenue of $4,360 to $4,400 million, constant currency growth improves to flat to 1%
- Reported Net Loss of $1,174 to $1,204 million, Reported diluted EPS of $(2.43) to $(2.37)
- Adjusted EPS of $0.88 to $0.94, Adjusted EBITDA of $965 to $1,000 million
- Net leverage ratio expected at 5.5x to 5.8x Adjusted EBITDA at year-end 2023
GREENFIELD, Ind (November 7, 2023) - Elanco Animal Health Incorporated (NYSE: ELAN) today reported financial results for the third quarter of 2023, provided guidance for the fourth quarter of 2023, and updated guidance for the full year 2023.
To view full Press Release, click here.
Colleen Parr Dekker