Elanco reports Q3 adjusted EPS 13c, consensus 12c

Reports Q3 revenue $1.03B, consensus $1.03B. “Elanco’s (ELAN) expanding portfolio supported our fifth consecutive quarter of underlying organic constant currency revenue growth in the third quarter, and we continue to expect 3% organic constant currency growth for the full year. It’s exciting to see our Innovation, Portfolio and Productivity strategy come to life with new products driving growth, led by Experior(R), Adtab(TM) and Zenrelia, and we expect this growth to accelerate to mid-single digits in 2025,” said Jeff Simmons, President and CEO of Elanco. “Our late-stage pipeline has largely moved into commercialization mode with the U.S. FDA approval and launch of Zenrelia, which is off to a great start in the U.S. and Brazil. Additionally, we received U.S. FDA approval for Credelio Quattro, positioning Elanco to bring positively differentiated products to the two largest pet health markets that will contribute to an expected return to growth for U.S. pet health in 2025. Finally, we continue to drive improved cash flow and deleveraging, finishing the third quarter with net leverage at 4.3x, down 1.3x compared to June 30th aided by the proceeds from the aqua divestiture and debt paydown from operations, with continued deleveraging expected in 2025.”