Elanco Animal Health (ELAN) Tops Q3 EPS by 2c, Offers Guidance
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Elanco Animal Health Reports Third Quarter 2021 Results Exceeding Revenue Guidance; Raising Full Year 2021 Revenue Guidance
November 5, 2021 6:30 AM EDTThird quarter revenue increased 27 percent, benefiting from increased scale and diversification with the addition of Bayer Animal Health. On a pro forma combined company basis, Elanco's revenue grew approximately 6 percent, assuming the Bayer Animal Health acquisition had occurred on January 1, 2020. Third quarter revenue was $1,131 million, exceeding the midpoint of guidance by $44 million, due to strength in the global Farm Animal business and global Pet Health retail. Gross margin improved 530 basis points year over year to 55.6 percent on a reported basis, and 150 basis points to 55.7 percent on an adjusted... More
