1st Half: Elanco’s Revenues Even With Prior Year, Earnings Up 6.7X

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Source: Elanco news release

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Earnings per share (EPS) improved to $0.10 (reported), or $0.28 (adjusted) for the second quarter 2019

• Gross margin improved to 54.5 percent of revenue (reported), or 54.6 percent of revenue (adjusted) for the second quarter 2019

• Total Revenue in the second quarter of 2019 increased 1 percent to $781.6 million; Total and Core Revenue grew 4 percent and 3 percent, respectively, at constant currency rates

• Completed acquisition of Aratana Therapeutics and Prevtec Microbia; Announced R&D collaboration with AgBiome

• Expected 2019 revenue now between $3.08 billion and $3.12 billion, reducing the top end of the range by $20 million primarily due to increased headwinds from African Swine Fever; reflects Core constant currency growth up to 4 percent

• Expected 2019 EPS range narrowed to $0.36 to $0.44 (reported), or $1.04 to $1.10 (adjusted)

Elanco Animal Health Incorporated (NYSE: ELAN) today reported its financial results for the second quarter of 2019. The results reflect underlying price and volume growth, and improved profitability through execution of the company’s targeted, three-pillar strategy focused on Innovation, Portfolio and Productivity (IPP).

“We continue to be pleased with the delivery of our productivity agenda driving the significant increase in adjusted gross margin as a percent of sales. We are encouraged by the 9 percent constant currency growth in our targeted growth categories and continue to make strategic investments that advance all three pillars of our strategy,” said Jeff Simmons, president and chief executive officer at Elanco. “While discrete external events provide headwinds to our global business, we continue to leverage our portfolio approach to respond and deliver to our expectations.”

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