Exceeded first quarter 2021 guidance; Updating full year 2021 guidance, raising and tightening adjusted ranges
- Revenue in the first quarter was $1,242 million, comprised of $683 million from the legacy Elanco portfolio and $559 million from the legacy Bayer Animal Health portfolio.
- Gross margin was 54.2% on a reported basis and 59.2% on an adjusted basis, benefiting from the addition of the Bayer Animal Health portfolio as well as continued productivity improvements.
- Earnings per share (EPS) was $(0.12) (reported), or $0.37 (adjusted).
- Updating financial guidance for the full year 2021 with revenue of $4,680 to $4,730 million, diluted EPS of $(0.35) to $(0.26) on a reported basis, or $1.00 to $1.06 on an adjusted basis, reported net loss of $(170) to $(125) million, and adjusted EBITDA of $1,055 to $1,095 million.
- Providing financial guidance for the second quarter of 2021 with revenue of $1,225 to $1,255 million, diluted EPS of $(0.08) to $(0.01) on a reported basis, or $0.22 to $0.27 on an adjusted basis, reported net loss of $(35) to $(10) million, and adjusted EBITDA of $250 to $275 million.
- Separate Form 8-K provides comprehensive information demonstrating the Seresto flea and tick collar’s safety profile. Full year global Seresto revenue is on track toward 2021 expectations as set at the start of the year.
- 11 of 13 geographic approvals received to support company’s eight key 2021 launches.
GREENFIELD, Ind. (May 7, 2021) - Elanco Animal Health Incorporated (NYSE: ELAN) today reported strong financial results for the first quarter of 2021, provided guidance for the second 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.
