Elanco revises Q4/FY2022 results for immaterial errors; reports material weakness in internal controls

Elanco Animal Health Inc

Q4 2022 revenue revised down $3M to $985M; reported net loss increased to $55M; adjusted EBITDA $172M (down $2M).
Full year 2022 revenue revised down $7M to $4,411M; reported net loss $78M (up $4M); adjusted EBITDA $1,017M (down $6M).
Reported EPS unchanged at $(0.11) for Q4; full year reported EPS revised to $(0.16) from $(0.15); adjusted EPS unchanged.
Net leverage increased to 5.5x from 5.4x; no impact on 2023 guidance.
Material weakness in internal control over financial reporting related to income tax provisions identified in 10-K.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

Elanco Animal Health Inc reported the fiscal quarter ended December 31, 2022 results: revenue $985 million, net income $(55) million, EPS $(0.11).

Period: the fiscal quarter ended December 31, 2022
Revenue: $985 million
Net income: $(55) million
EPS: $(0.11)
Result: reported results

Exact text from the filing

Fourth quarter of 2022: o Revenue decreased from $988 million to $985 million o Reported net loss increased from $54 million to $55 million, adjusted net income decreased from $95 million to $94 million o Adjusted EBITDA decreased from $174 million to $172 million o Reported and adjusted EPS was unchanged

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

Elanco Animal Health Inc reported the full year ended December 31, 2022 results: revenue $4,411 million, net income $(78) million, EPS $(0.16).

Period: the full year ended December 31, 2022
Revenue: $4,411 million
Net income: $(78) million
EPS: $(0.16)
Result: reported results

Exact text from the filing

Full year 2022: o Revenue decreased from $4,418 million to $4,411 million o Reported net loss increased from $74 million to $78 million, adjusted net income decreased from $548 million to $544 million o Adjusted EBITDA decreased from $1,023 million to $1,017 million o Reported EPS decreased from $(0.15) to $(0.16), Adjusted EPS was unchanged

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Elanco Animal Health Inc filing history →

Source: SEC EDGAR

accession 0001104659-23-027183

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