NYSE$ELAN
Elanco Animal Health Inc · Q1 2023 earnings
Q1 2023 earnings · · Investor relations
Briefing
Elanco's Q1 2023 earnings were released, showing revenue increase driven by ERP system integration and improved business conditions, while raising the bottom-end of guidance for the full year 2023.
Elanco Animal Health reported a 3% increase in revenue to $1,257 million for Q1 2023, driven by customer purchases shifting from Q2 due to ERP integration. The company raised the bottom end of its full-year guidance, reflecting confidence in U.S. Pet Health and international poultry businesses.
- Revenue increased by 3% on a reported basis, or 6% excluding the unfavorable impact from foreign exchange rates.
- Pet Health revenue increased by 5%, driven by price, but impacted by supply constraints and competition.
- Farm Animal revenue increased by 1%, driven by strength in Europe and Asia, offset by poultry rotations and supply constraints.
- The company estimates adjusted EPS in the first quarter includes a $0.11 to $0.14 benefit from the ERP Blackout.
Headline financials
Revenue & EPS history
Elanco · Revenue · Quarterly
$1.26B
Revenue by segment
Elanco · $1.1B total across 4 segments · Q1 2023
- Pet Health$675M+5.6%61.4%
- Poultry$228M—20.7%
- Cattle$124M-78.2%11.3%
- Swine$72M—6.6%
Forward guidance
Elanco is updating financial guidance for the full year 2023, driven by the successful completion of the ERP system integration, innovation progress, and increased confidence in the company’s U.S. Pet Health and international poultry businesses.
Tailwinds
- Successful completion of the ERP system integration
- Innovation progress
- Increased confidence in the company’s U.S. Pet Health business
- Increased confidence in the company’s international poultry businesses
- Raising the bottom end of its full year 2023 guidance for revenue
Headwinds
- Impact of foreign exchange is now expected to be a headwind of approximately $20 million to $25 million
- Second quarter revenue guidance accounts for an estimated $90 million to $110 million in customer purchases shifted from the first quarter
- Second quarter adjusted EPS is expected to be impacted from headwinds from higher interest expense
- Second quarter adjusted EPS is expected to be impacted from headwinds from taxes
- Second quarter adjusted EPS is expected to be impacted from headwinds from unfavorable foreign exchange rates
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2023
+2.0%
Avg return
Earnings day
+2.8%
Avg return
5 days after
+1.1%
Avg return
30 days after
52%
16 / 31 earnings
Positive
+27.2%
Q1 2024
Best reaction
-16.3%
Q2 2021
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +13.9% | -5.6% | +2.6% | |
| Q4 2025 | +7.3% | +6.7% | -0.7% | |
| Q3 2025 | -4.2% | -1.0% | -2.7% | |
| Q1 2025 | +26.2% | +34.8% | +46.2% | |
| Q4 2024 | -3.7% | +0.5% | -2.7% | |
| Q3 2024 | +9.4% | +9.8% | -2.8% | |
| Q2 2024 | +5.3% | +12.6% | +21.9% | |
| Q1 2024 | +27.2% | +25.7% | +34.7% | |
| Q4 2023 | +0.5% | -2.1% | -1.2% | |
| Q3 2023 | +15.9% | +14.1% | +36.4% | |
| Q2 2023 | +7.0% | +4.5% | +2.7% | |
| Q1 2023 | -3.8% | -8.4% | -0.1% | |
| Q4 2022 | -6.9% | -11.0% | -33.1% | |
| Q3 2022 | -10.3% | +0.4% | -6.7% | |
| Q2 2022 | -1.6% | +3.3% | -23.9% | |
| Q1 2022 | -7.9% | -6.4% | +1.5% | |
| Q4 2021 | +8.2% | +12.4% | +3.3% | |
| Q3 2021 | +1.2% | +0.3% | -14.3% | |
| Q2 2021 | -16.3% | -12.3% | -4.2% | |
| Q1 2021 | +3.8% | +3.4% | +10.1% | |
| Q4 2020 | +2.8% | +9.0% | -9.8% | |
| Q3 2020 | -4.7% | -8.0% | -9.8% | |
| Q2 2020 | +11.7% | +17.3% | +37.7% | |
| Q1 2020 | -13.5% | -12.9% | +3.6% | |
| Q4 2019 | -0.7% | -1.4% | -42.5% | |
| Q3 2019 | -1.9% | -3.1% | -1.2% | |
| Q2 2018 | -4.8% | -1.3% | -4.6% | |
| Q2 2019 | -4.8% | -1.3% | -4.6% | |
| Q1 2019 | +6.1% | +3.9% | +4.1% | |
| Q4 2018 | -2.4% | -1.7% | -2.7% | |
| Q3 2018 | +3.7% | +3.7% | -1.9% | |
| Q1 2018 | — | — | — | |
| Q4 2017 | — | — | — | |
| Q3 2017 | — | — | — | |
| Q2 2017 | — | — | — | |
| Q1 2017 | — | — | — |
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