Elanco Q3 revenue $1.03B, +1% organic; adj. EPS $0.13; 2024 guidance tightened

Elanco Animal Health Inc

2024-Q3 EPS reported $0.70 revenue$3,419,000,000

Reported net income $364M ($0.73 EPS) includes $640M pre-tax gain from July aqua divestiture; adjusted net income $66M ($0.13 EPS).
Full-year 2024 guidance tightened: revenue $4.42-$4.45B, adj. EBITDA $900-$930M, adj. EPS $0.89-$0.95 (midpoint unchanged).
U.S. FDA approved Zenrelia (JAK inhibitor for atopic dermatitis in dogs) and Credelio Quattro (broad-spectrum parasiticide).
Net leverage ratio 4.3x, down from 5.6x at June 30; aided by aqua divestiture proceeds and debt paydown.
Pet health revenue $486M (-2% organic); Farm animal $530M (+3% organic); cattle up 6% on Experior and Rumensin.

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