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Aug. 9, 2021, 8:32 a.m. EDT

Elanco Animal Health stock sinks after profit beat on revenue doubled, but outlook is mixed

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By Tomi Kilgore

Shares of Elanco Animal Health Inc. /zigman2/quotes/203710302/composite ELAN -1.23% sank 7.3% toward a three-month low in premarket trading Monday, after the animal health company reported second-quarter profit that topped expectations and revenue that more than doubled, amid strength in the U.S. vaccine business and international markets, but provided a mixed full-year outlook. The company said increased logistics costs and inflationary pressure hurt the full-year profit outlook. The net loss widened to $210 million, or 43 cents a share, from $53 million or 13 cents a share, in the year-ago period. Excluding nonrecurring items, such as impairment charges, adjusted earnings per share came to 28 cents, above the FactSet consensus of 27 cents. Revenue grew 118.3% to $1.28 billion, above the FactSet consensus of $1.24 billion, as pet health revenue rose 170% and farm animal revenue increased 79%. For 2021, the company lowered its guidance range for adjusted EPS to 97 cents to $1.03 from $1.00 to $1.06 but raised its revenue guidance to $4.68 billion to $4.73 billion from $4.67 billion to $4.71 billion. The stock has advanced 15.3% year to date while the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.98% has rallied 18.1%.

/zigman2/quotes/203710302/composite
US : U.S.: NYSE
$ 32.90
-0.41 -1.23%
Volume: 3.75M
Oct. 28, 2021 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$15.76 billion
Rev. per Employee
$348,223
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/zigman2/quotes/210599714/realtime
US : S&P US
4,596.42
+44.74 +0.98%
Volume: 2.15B
Oct. 28, 2021 4:20p
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