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.
