Post by: Tiffany Kanaga
Exceeded second quarter 2021 guidance; Increasing full year 2021 revenue outlook
- Revenue in the second quarter was $1,279 million, comprised of $750 million from the legacy Elanco portfolio and $529 million from the legacy Bayer Animal Health portfolio.
- Gross margin was 56.9% on a reported basis and 57.0% on an adjusted basis, benefiting from the addition of the Bayer Animal Health portfolio and continued productivity improvements.
- Earnings per share (EPS) was $(0.43) (reported), or $0.28 (adjusted), including an approximate $0.03 negative impact from discrete tax items to adjusted EPS compared to guidance.
- Updating financial guidance for the full year 2021 with revenue of $4,680 to $4,730 million, diluted EPS of $(0.72) to $(0.64) on a reported basis, or $0.97 to $1.03 on an adjusted basis, reported net loss of $(355) to $(315) million, and adjusted EBITDA of $1,035 to $1,075 million.
- Providing financial guidance for the third quarter of 2021 with revenue of $1,075 to $1,100 million, diluted EPS of $(0.14) to $(0.08) on a reported basis, or $0.15 to $0.19 on an adjusted basis, reported net loss of $(70) to $(40) million, and adjusted EBITDA of $195 to $220 million.
- KindredBio acquisition on track to close this month, subject to customary closing conditions.
To view full Press Release, click here.
Colleen Parr Dekker