8-K
filed August 7, 2023, 7:59 PM ET
ticker ELAN
CIK 0001739104
earnings
confidence high
sentiment positive
materiality 0.80
Elanco Animal Health Inc (ELAN): debt financing — Elanco Q2 revenue $1,057M, adj EPS $0.18; raises full-year guidance
Elanco Animal Health Inc
2023-Q2 EPS reported
$0.01
revenue$2,314,000,000
- Revenue $1,057M (-10% YoY); estimated $90-$110M ERP blackout impact shifted Q2 revenue to Q1.
- Reported net loss $(97)M, adjusted net income $90M; adjusted EBITDA $222M (21.0% of revenue).
- Full-year 2023 guidance raised: revenue $4,350-$4,410M, adjusted EPS $0.80-$0.89, adj. EBITDA $950-$1,010M.
- New $300M accounts receivable securitization facility; proceeds to retire August 2023 bonds.
- EPA completed review of Seresto, confirming continued registration; launched Canine Parvovirus Mab in U.S.
Key facts
Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.95
Elanco Animal Health Inc incurred credit facility of $300 million with Coöperatieve Rabobank U.A., New York Branch at Term SOFR plus a margin maturing three years.
- Instrument
- credit facility
- Principal
- $300 million
- Counterparty
- Coöperatieve Rabobank U.A., New York Branch
- Rate
- Term SOFR plus a margin
- Maturity
- three years
- Event
- incurrence
Exact text from the filing
guarantor is only of the performance of Elanco US, and not the performance of the Borrower or the debt. The Receivables Securitization Facility (a) has a borrowing capacity of $300 million, (b) has a term of three years, and (c) is subject to customary representations, warranties and indemnification provisions. The interest rate on borrowings under the
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.95
Elanco Animal Health Inc reported the fiscal quarter ended June 30, 2023 results: revenue $1,057 million, net income $(97) million, EPS $(0.20). Guidance raised.
- Period
- the fiscal quarter ended June 30, 2023
- Revenue
- $1,057 million
- Net income
- $(97) million
- EPS
- $(0.20)
- Guidance
- raised
- Result
- reported results
Exact text from the filing
or colleen.dekker@elancoah.com Elanco Animal Health Reports Second Quarter 2023 Results and Raises Full Year Guidance · Second Quarter 2023 Financial Results ◦ Revenue of $1,057 million, impacted by an estimated $90-$110 million of revenue related to customer purchasing shifted from the second quarter into the first as a result of ERP system commercial ordering
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Elanco Animal Health Inc entered into Receivables Loan Agreement with Coöperatieve Rabobank U.A., New York Branch valued at $300 million (effective 2023-08-03).
- Action
- entry
- Agreement
- credit facility
- Counterparty
- Coöperatieve Rabobank U.A., New York Branch
- Value
- $300 million
- Effective
- 2023-08-03
Exact text from the filing
On August 3, 2023, Elanco Animal Health Incorporated (the "Company"), solely in its role as performance guarantor, Elanco SPEAR LLC, as Borrower (the "Borrower"), and Elanco US Inc., as servicer ("Elanco US"), entered into a Receivables Loan Agreement dated as of August 3, 2023 with Coöperatieve Rabobank U.A., New York Branch ("Rabobank"), as Administrative Agent, and the lenders from time to time party thereto (the "Agreement"), relating to the company's new accounts receivable securitization facility (the "Receivables Securitization Facility").
View on SEC.gov
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