NYSE$ELAN
Elanco Animal Health Inc · Q2 2021 earnings
Q2 2021 earnings · · Investor relations
Briefing
Elanco's Q2 2021 results exceeded guidance, leading to an increased full-year revenue outlook.
Elanco Animal Health reported strong second-quarter results, driven by the inclusion of the Bayer Animal Health business and strong performance in both Pet Health and Farm Animal segments. The company raised its full-year revenue guidance for the third time and is confident in its ability to drive sustainable double-digit adjusted EBITDA and adjusted EPS growth.
- Second quarter revenue was $1,279 million, with the inclusion of Bayer Animal Health contributing significantly.
- Global Pet Health business drove approximately two-thirds of the upside versus the midpoint of second quarter guidance.
- Global Farm Animal business contributed approximately one-third of the upside versus the midpoint of second quarter guidance.
- Seven of the planned eight launches for 2021 have occurred in the first half of the year, with eight approvals achieved year to date.
Headline financials
Revenue & EPS history
Elanco · Revenue · Quarterly
$1.28B
Revenue by segment
Elanco · $1.58B total across 5 segments · Q3 2023
- Farm Animal$561M—35.6%
- Pet Health$495M+5.1%31.4%
- Cattle$242M+3.9%15.4%
- Poultry$184M+15.7%11.7%
- Swine$93M+10.7%5.9%
Forward guidance
Elanco is updating its full year 2021 guidance for revenue, EPS, and adjusted EBITDA. The company's raised revenue guidance reflects a balanced approach, including strong momentum to exit the second quarter, seasonality in Elanco's higher-margin parasiticide products, likely moderation in pandemic-driven Pet Health tailwinds in the vet clinic, ongoing competitive dynamics, and strength in Elanco's broad-based, durable portfolio.
Tailwinds
- Strong momentum to exit the second quarter
- Seasonality in Elanco's higher-margin parasiticide products
- Likely moderation in pandemic-driven Pet Health tailwinds in the vet clinic
- Ongoing competitive dynamics
- Strength in Elanco's broad-based, durable portfolio
Headwinds
- Increased logistics costs and inflationary pressure
- Reduced ZoaShield revenue
- Operating costs associated with the KindredBio acquisition
- Reduction in depreciation add-back primarily driven by exiting three manufacturing sites
- The $15 million increase in the midpoint of full year revenue guidance is primarily driven by the $39 million overperformance compared to the midpoint of second quarter of 2021 guidance, partly offset by the phasing of certain aqua orders and the $15 million reduction of expected innovation revenue contribution from ZoaShield in the second half of 2021.
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 Q2 2021
+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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