- Fourth Quarter 2024 Financial Results:
- Revenue of $1,020 million, decreased 1% on a reported basis and increased 4% on an organic constant currency basis
- Reported Net Loss of $8 million, Adjusted Net Income of $72 million
- Adjusted EBITDA of $177 million, or 17.4% of Revenue, including an approximate $7 million foreign exchange (FX) headwind vs. late October rates
- Reported EPS of $(0.02), Adjusted EPS of $0.14 including an approximate $0.01 FX headwind vs. late October rates
- Full Year 2024 Financial Results:
- Exceeded innovation revenue target at $461 million
- Revenue of $4,439 million, flat to prior year on a reported basis and up 3% on an organic constant currency basis
- Reported Net Income of $338 million, Adjusted Net Income of $452 million
- Adjusted EBITDA of $910 million, or 20.5% of Revenue
- Reported EPS of $0.68, Adjusted EPS of $0.91
- Net leverage ratio of 4.3x Adjusted EBITDA
- Full Year 2025 Guidance:
- Unchanged vs. November outlook except incorporating estimated FX headwind of $110 million to revenue, $45 million to Adjusted EBITDA, and $0.07 to Adjusted EPS; continue to expect accelerating organic constant currency revenue growth to mid-single digits
- Raising 2025 innovation revenue target to $640 to $720 million
- Revenue of $4,445 to $4,510 million
- Reported Net (Loss) Income of $(25) to $7 million, Adjusted EBITDA of $830 to $870 million
- Reported (Loss) Earnings Per Share of $(0.05) to $0.01, Adjusted EPS of $0.80 to $0.86
GREENFIELD, IN (February 25, 2025) - Elanco Animal Health Incorporated (NYSE: ELAN) today reported its financial results for the fourth quarter and full year 2024 and provided initial guidance for both the first quarter and full year 2025.
"Elanco delivered a strong finish to 2024, achieving our sixth consecutive quarter of organic constant currency revenue growth — with the fourth quarter up 4% — and building momentum as we head into 2025," said Jeff Simmons, President and CEO of Elanco Animal Health. "For the year we grew in both Pet Health and Farm Animal, in our top five product franchises, and in nine of our top 10 countries, all on an organic constant currency basis, demonstrating the broad-based strength of our diverse portfolio. We exceeded our innovation revenue target for 2024 and raised the goal for 2025, with six potential blockbuster products now launched and reinforcing our confidence in mid-single digit organic constant currency revenue growth this year. We generated over half a billion dollars of operating cash flow in 2024, doubling from the prior year through working capital discipline. Employee engagement is at a four-year high and our teams are already off to a fast start in 2025, focused on delivering a successful year and creating long-term value."
Select Business Highlights Since the Last Earnings Call
- Launched and shipped Credelio Quattro™ in January
- Achieved Zenrelia™ use in over 8,000 U.S. clinics, representing penetration of nearly 30%; momentum driving acceleration of direct-to-consumer and other targeted marketing in January; launched in Japan in November and Canada in January
- Received conditional approval in Canada for canine parvovirus monoclonal antibody in January
- Strengthened U.S. Farm Animal leadership: #1 in beef, swine, and poultry(1)
- Achieved blockbuster status for Experior® in the U.S. alone; heifer clearance driving continued growth
- Carbon inset market proven as dairy farmers earned approximately $10 million for credits in 2024 created by using Rumensin®
