secwatch / observer
8-K filed February 26, 2024, 6:59 PM ET ticker ELAN CIK 0001739104
earnings confidence high sentiment negative materiality 0.85

Elanco Animal Health Inc (ELAN): restructuring charge — Elanco reports Q4 net loss $141M, full-year loss $1.23B; cuts 420 jobs in restructuring

Elanco Animal Health Inc

2023-FY EPS reported -$2.50 revenue$4,417,000,000

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Elanco Animal Health Inc reported full year 2024 results: revenue Revenue of $4,450 to $4,540 million, net income Reported Net Loss of $17 to $62 million, EPS Reported EPS of $(0.12) to $(0.03). Guidance initiated.

Period
full year 2024
Revenue
Revenue of $4,450 to $4,540 million
Net income
Reported Net Loss of $17 to $62 million
EPS
Reported EPS of $(0.12) to $(0.03)
Guidance
initiated
Result
guidance update
Exact text from the filing
Full Year 2024 Guidance: ◦ Revenue of $4,450 to $4,540 million ◦ Reported Net Loss of $17 to $62 million, Adjusted EBITDA of $960 to $1,010 million ◦ Reported EPS of $(0.12) to $(0.03), Adjusted EPS of $0.87 to $0.95
View on SEC.gov
Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Elanco Animal Health Inc reported the fiscal quarter ended December 31, 2023 results: revenue Revenue of $1,035 million, net income Reported Net Loss of $141 million, EPS Reported EPS of $(0.29).

Period
the fiscal quarter ended December 31, 2023
Revenue
Revenue of $1,035 million
Net income
Reported Net Loss of $141 million
EPS
Reported EPS of $(0.29)
Result
reported results
Exact text from the filing
Fourth Quarter 2023 Financial Results: ◦ Revenue of $1,035 million ◦ Reported Net Loss of $141 million, Adjusted Net Income of $39 million ◦ Adjusted EBITDA of $165 million or 15.9% of Revenue ◦ Reported EPS of $(0.29), Adjusted EPS of $0.08
View on SEC.gov
Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Elanco Animal Health Inc reported the fiscal year ended December 31, 2023 results: revenue Revenue of $4,417 million, net income Reported Net Loss of $1,231 million, EPS Reported EPS of $(2.50).

Period
the fiscal year ended December 31, 2023
Revenue
Revenue of $4,417 million
Net income
Reported Net Loss of $1,231 million
EPS
Reported EPS of $(2.50)
Result
reported results
Exact text from the filing
Full Year 2023 Financial Results: ◦ Revenue of $4,417 million ◦ Reported Net Loss of $1,231 million, Adjusted Net Income of $439 million ◦ Adjusted EBITDA of $979 million or 22.2% of Revenue ◦ Reported EPS of $(2.50), Adjusted EPS of $0.89
View on SEC.gov
Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.9

Elanco Animal Health Inc announced a restructuring with charges of $50 to $55 million affecting across our global organization (approximately 420 personnel).

Type
restructuring
Charge
$50 to $55 million
Affected area
across our global organization
Headcount
approximately 420 personnel
Exact text from the filing
On February 22, 2024, the Board of Directors of Elanco Animal Health Incorporated authorized a restructuring plan with respect to its workforce (the “Restructuring Plan”) to improve operational efficiencies and better align the Company’s organizational structure with current business needs, top strategic priorities and key growth opportunities. The restructuring plan will result in the elimination of approximately 420 personnel across our global organization. Expected pre-tax charges associated with the restructuring plan total $50 to $55 million in 2024, including $40 to $45 million of cash-based severance costs, a majority of which will be paid in 2024.
View on SEC.gov

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Source: SEC EDGAR
accession 0001739104-24-000004
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