Elanco Shares Rise After Q1 Earnings Exceed Expectations, Raises FY21 Outlook

  • Elanco Animal Health Inc ELAN has reported Q1 EPS of $0.37 higher than $0.13 reported a year ago. It surpassed analysts' estimate of $0.23 and beat the company guidance of $0.20 - $0.25.
  • Sales of $1.24 billion were above the guidance range of $1.15 - $1.17 billion and beat the consensus estimate of $1.16 billion.
  • Total revenue increased 89% Y/Y driven by increased scale and diversification with the addition of Bayer Animal Health business.
  • Legacy Elanco revenue was $683 million, up 4% Y/Y. $559 million in sales came from the legacy Bayer Animal Health portfolio.
  • Pet Health revenue increased 213% to $645 million. Farm Animal revenue increased 33% for the quarter to $578 million.
  • Gross margin improved 480 basis points Y/Y to 54.2%.
  • Guidance Q2 2021: Elanco expects revenue of $1.225 - $1.255 billion, versus the analyst consensus of $1.16 billion.
  • It expects adjusted EPS of $0.22 - $0.27 in line with the consensus of $0.25 and adjusted EBITDA of $250 to $275 million.
  • FY2021: Elanco raised revenue guidance to $4.68 - $4.73 billion from $4.55 - $4.630 billion. Adjusted EPS outlook also raised to $1.00 - $1.06, up from the prior outlook of $0.90 - $1.00.
  • It forecasts adjusted EBITDA of $1.055 - $1.095 billion, higher than the previously guided range of $980 million - $1.040 billion.
  • Price Action: ELAN shares are up 6.4% at $33.02on the last check Friday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsGuidanceHealth CareGeneralBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!