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Feb. 24, 2021, 7:00 a.m. EST

Elancos sales boosted by Bayer Animal health deal

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By Dieter Holger

Elanco Animal Health Inc. beat Wall Street's expectations in the last quarter as its sales rose following its purchase of Bayer Animal Health.

The pet and livestock drugmaker said Wednesday that its net loss was $322.8 million in the fourth quarter ended Dec. 31, compared with a loss of $9.5 million a year ago. It booked a per-share loss of 66 cents, compared with a loss of 3 cents last year.

Adjusted earnings were 12 cents a share, topping analysts' forecast of 10 cents a share, according to FactSet.

Sales rose to $1.14 billion in the quarter from $787 million a year ago. Analysts expected sales of $1.06 billion. Elanco said the legacy Bayer Animal Health portfolio contributed $396.3 million in revenue.

For full-year 2021, the company increased its revenue guidance to $4.56 billion to $4.63 billion, with adjusted per-share earnings of 90 cents to $1. For the first quarter of 2021, it sees $1.15 billion to $1.17 billion in revenue and adjusted per-share earnings of 20 cents to 25 cents.

Elanco's stock is down 2.4% over the last three months.

Write to Dieter Holger at; @dieterholger

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