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Mar 31, 2024
Elanco Q1 2024 Earnings Report
Elanco's financial performance in Q1 2024 was marked by revenue of $1,205 million and adjusted EPS of $0.34, despite challenges from the ERP Blackout.
Key Takeaways
Elanco Animal Health reported first quarter 2024 financial results, with revenue of $1,205 million and a reported EPS of $0.06. The company's performance was impacted by a shift in customer purchasing related to the ERP Blackout in 2023. Elanco is updating its full year 2024 financial guidance to reflect first quarter outperformance offset by expected unfavorable impact of foreign exchange rates.
Revenue reached $1,205 million.
Reported net income was $32 million, with an adjusted net income of $167 million.
Adjusted EBITDA stood at $294 million, representing 24.4% of revenue.
Reported EPS was $0.06, while adjusted EPS was $0.34.
Elanco
Elanco
Elanco Revenue by Segment
Revenue by Segment
Pet Health Revenue
CapyFin.comFarm Animal Revenue
CapyFin.comCattle Revenue
CapyFin.comPoultry Revenue
CapyFin.comSwine Revenue
CapyFin.comContract Manufacturing & Other Revenue
CapyFin.com Forward Guidance
Elanco is updating financial guidance for the full year 2024 and providing guidance for the second quarter of 2024. The company now anticipates revenue between $4,460 and $4,515 million and adjusted EPS of $0.88 to $0.96 for the full year. For the second quarter of 2024, the company anticipates revenue between $1,145 and $1,170 million and adjusted EPS between $0.23 and $0.26.
Positive Outlook
- Improved operational performance
- Lower interest expense
- Lower tax rate
- Strength in U.S. farm animal business
- Strength in International pet health business
Challenges Ahead
- Unfavorable impact of foreign exchange rates
- Reduced sales of Kexxtone due to manufacturing process review
- Headwind from unfavorable impact of foreign exchange rates in Q2
- ERP system go-live in April 2023 impacted sales order processing
- Shift of revenue from Q2 2023 to Q1 2023 due to ERP Blackout
Revenue & Expenses
Visualization of income flow from segment revenue to net income