secwatch.observer — SEC 8-K summary
======================================

Issuer:     Elanco Animal Health Inc (ELAN)
CIK:        0001739104
Form:       8-K
Filed at:   2024-05-08T23:59:59+00:00
Accession:  0001739104-24-000016
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Elanco Q1 revenue $1.205B; adjusted EPS $0.34; FY guidance updated with improved constant currency growth outlook
--------------------------------------------------------------------------------

- Q1 revenue $1.205B (-4% reported/CC); reported EPS $0.06, adjusted EPS $0.34; adjusted EBITDA $294M (-22%).
- FY 2024 guidance: revenue $4.46-4.515B (2-3% CC growth), adjusted EBITDA $960M-$1B, adjusted EPS $0.88-$0.96.
- Net leverage 6.1x; expects debt paydown $280-320M in 2024; aqua divestiture closing mid-2024 with proceeds $1.05-1.1B after tax.
- Innovation revenue now expected $375-410M in 2024; three pipeline products (Bovaer, Zenrelia, Credelio Quattro) on track for H2 2024 approval.
- Kexxtone sales paused due to EU CVMP review; expected ~$20M revenue and ~$18M adjusted EBITDA reduction vs Feb guidance.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1739104/000173910424000016/0001739104-24-000016-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1739104/000173910424000016/elan-20240508.htm
  HTML page:      https://secwatch.observer/filing/0001739104-24-000016

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer