Business / Companies
Elanco revenue grows 11% as company raises annual forecast
The animal-health company reported $18 million in net income and higher pet-health sales.
Status: source-checked.
Elanco Animal Health reported Nov. 6 that third-quarter revenue increased 11% to $1.265 billion, and it raised its full-year sales and adjusted earnings forecasts. The company reported net income of $18 million, or 4 cents a share.
Revenue growth was 9% on the company’s organic, constant-currency measure, below the reported growth rate. That distinction separates its underlying growth measure from the headline revenue increase rather than treating the two percentages as interchangeable.
Pet Health revenue reached $608 million, up 14% on both a reported and an organic constant-currency basis. Elanco attributed higher volume in the business primarily to demand for Zenrelia, Credelio Quattro and AdTab; those explanations come from the company’s own release.
Elanco reported adjusted net income of $136 million, or 27 cents a share, compared with its much smaller reported profit. Its adjusted measure excludes items including intangible-asset amortization and certain acquisition, severance and other charges, so it is not a substitute for reported net income.
For the full year, Elanco now expects revenue of $5.155 billion to $5.180 billion and adjusted earnings of $1.17 to $1.20 a share. Those are management forecasts, not completed results; the company also set a year-end net leverage target of about 2.9 times adjusted earnings before interest, taxes, depreciation and amortization.
What we know / what we don't
What we know
- Elanco Animal Health reported Nov. 6 that third-quarter revenue increased 11% to $1.265 billion, and it raised its full-year sales and adjusted earnings forecasts. The company reported net income of $18 million, or 4 cents a share.
What we don't know
- Issuer/agency claims checked against the saved release; no independent corroboration claimed.
The source record