Post by: Colleen Parr Dekker
- First Quarter 2023 Financial Results
- Revenue of $1,257 million, including an estimated $90-$110 million benefit from customer purchasing shifted from the second quarter into the first as a result of ERP system commercial ordering blackout period for legacy Bayer Animal Health products in April
- Reported Net Income of $103 million, Adjusted Net Income of $220 million
- Adjusted EBITDA of $379 million or 30.2% of Revenue
- Reported EPS of $0.21, Adjusted EPS of $0.45
- Net leverage ratio of 5.4x Adjusted EBITDA
- Raising the bottom end of full year 2023 guidance ranges to reflect current assumptions:
- Revenue of $4,310 to $4,400 million
- Reported Net Loss of $(134) to $(98) million, Reported diluted EPS of $(0.27) to $(0.20)
- Adjusted EPS of $0.76 to $0.83, Adjusted EBITDA of $940 to $1,000 million
- Net leverage ratio expected at 5.3x to 5.8x Adjusted EBITDA at year-end 2023
- Successful integration of legacy Bayer Animal Health business into Elanco’s ERP system and shared service center network with all affiliates and sites resuming normal operations in April, as scheduled
- Received USDA conditional approval for breakthrough Canine Parvovirus Monoclonal Antibody treatment; Initiated USDA submission for IL-31 monoclonal antibody for canine dermatology
GREENFIELD, IN (May 9, 2023) - Elanco Animal Health Incorporated (NYSE: ELAN) today reported financial results for the first quarter of 2023, provided guidance for the second quarter of 2023, and raised the bottom-end of guidance for the full year 2023.
