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- 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.
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