Financial Highlights:
- Revenue: $1.03 billion in Q3, with a slight 1% organic constant currency growth.
- Net Income: $364 million (up significantly from a loss of $1.1 billion in Q3 2023), bolstered by a $640 million pre-tax gain from divesting its aqua business.
- Adjusted EBITDA: $163 million, representing 15.8% of revenue, down from 20% last year.
- Earnings per Share (EPS): Reported EPS at $0.73; adjusted EPS at $0.13.
2024 Guidance Updates:
- Full-Year Revenue: Revised to $4.42–$4.45 billion with anticipated 3% organic constant currency growth.
- Adjusted EPS: Projected at $0.89–$0.95.
- Adjusted EBITDA: Set between $900–$930 million.
Product and Market Developments:
- FDA Approvals: Introduced two new products—Zenrelia™, a JAK inhibitor for dogs, and Credelio Quattro™, a parasiticide for comprehensive parasite protection in dogs.
- Innovation Pipeline: New launches and growth initiatives include Experior® for cattle, which reduces ammonia emissions and has expanded FDA clearances.
- Manufacturing Investments: Elanco is investing $130 million in its Kansas facility to expand monoclonal antibody production capacity.
Operational Insights:
- Pet Health Revenue: $486 million, down by 2% due to competitive pressures and supply issues.
- Farm Animal Revenue: $530 million, impacted by lower demand in certain regions but supported by strong cattle and poultry sales.
Forward Outlook: Elanco projects mid-single-digit organic growth in 2025, driven by new products and stabilizing markets. Despite expected challenges from UK manufacturing partners, EBITDA growth is anticipated in the low single digits.
For More Information: Visit Elanco’s investor page here.
