Elanco Animal Health (ELAN) Tops Q2 EPS by 3c
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Elanco Animal Health Reports 2020 Second Quarter Results
July 30, 2020 6:30 AM EDTTotal Revenue for the second quarter was $586.3 million, a decrease of 25 percent. On a constant currency basis, Total Revenue declined 23 percent primarily due to a reduction in channel inventory and lower demand resulting from the COVID-19 pandemic. Earnings per share (EPS) was $(0.13) (reported), or $0.09 (adjusted). Cash and cash equivalents improved to $1.4 billion as of June 30, 2020, as a result of disciplined operating and capital expense management, improved receivable terms, and the sale of our Australia facility. Bayer Animal Health acquisition remains on track to close at the beginning of August;... More
