📈 Price History

Ratio Health

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By Category

📊 Peer Medians

About

Elanco Animal Health Incorporated, an animal health company, innovates, develops, manufactures, and markets products for pets and farm animals worldwide. The company offers pet health products, such as parasiticides, vaccines, and therapeutics that protect pets from fleas, ticks, and internal parasites under the Seresto, K-9 Advantage, Advantix, and Advocate trademarks; prescription parasiticide products, an over-the-counter treatments for the prevention and elimination of fleas and ticks under the Credelio Family, Interceptor Plus, Drontal family, and Drontal Plus; vaccines portfolio that provides differentiated prevention coverage for a number of important pet health risks; and therapeutics portfolio for the treatment of pain, otitis, cardiovascular, and dermatology indications, as well as osteoarthritis for dogs and cats under the Galliprant trademark. It also provides farm animal products that help farmers improve animal health and wellbeing, and raise livestock, such as cattle, swine, and poultry. In addition, the company offers medicated feed additives, injectable antibiotics, vaccines, insecticides and enzymes, and others under the Rumensin, Baytril, and Experior trademarks for cattle; and under the Maxiban and Monteban trademarks for the control and prevention of intestinal disease in poultry. Further, it offers other pet health products for cats and dogs under the Atopica, Milbemax, Onsior, and Tru Family trademarks; and other farm animal products for poultry, cattle, and swine under the AviPro, Catosal, Denagard, Hemicell, Pulmotil, and Surmax tradmarks. The company sells its products to third-party distributors and independent retailers; and directly to farm animal producers and veterinarians. Elanco Animal Health Incorporated was founded in 1954 and is headquartered in Indianapolis, Indiana.

Key Ratios Snapshot

📈 Growth Pattern

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🔍 Concall Decoded

🎙 Management Tone Tracker Confident Specific → Stable 4 quarters analysed

Q2 2025

Confident Specific

Management used specific language such as 'exceeding the high end of guidance', 'eight consecutive quarters of underlying growth', and 'raising full-year expectations by an additional $60 million'. They provided detailed metrics on innovation revenue and leverage ratios.

Q3 2025

Confident Specific

Management consistently used language like 'strong third quarter results', 'highest quality of growth in nine quarters', 'turning strategy into results', and 'we are well‑positioned to raise our top and bottom line outlook'. They repeatedly emphasized specific metrics (9% organic growth, $655M innovation YTD, net leverage 3.7x) and highlighted outperformance versus guidance.

Q4 2025

Confident Specific

Management repeatedly uses strong positive language: 'significant delivery', 'outperformed the high end of guidance', '10 consecutive quarters of underlying growth', 'confident in trajectory'. They cite specific numbers for revenue growth, innovation revenue, and deleveraging, reinforcing conviction in their strategic execution.

Q1 2026 latest

Confident Specific

Management repeatedly used strong positive language such as 'growing strength, momentum and value', '10% organic constant currency revenue growth outperforming high end of guidance', and 'raised full year guidance'. They provided specific metrics (e.g., Zenrelia blockbuster, 53% share in Quattro-carrying clinics) and cited accelerating trends in March and April.

Guidance Reliability Pending · <3Q data

Investor Lens

The investment thesis is clearly stronger after this call. Management delivered a standout quarter with 10% organic growth, raised full year guidance, and showed accelerating innovation momentum (Zenrelia blockbuster, Quattro share gains, Befrena launch). The base business also grew, dispelling fears of cannibalization. Key watch items for next quarter: U.S. pet health acceleration to high single-digit/low double-digit in H2, Zenrelia label timeline (though not baked in), and Befrena's early uptake. The deleveraging trajectory is ahead of plan, increasing financial flexibility. Overall, the call reinforces Elanco's position as a growth leader in animal health.

AI-generated concall tone analysis · Updated 2026-06-08 · Not investment advice

🎙 Management Tone Confident Specific → Stable 4 quarters Full tone analysis in Intelligence →

📊 MIXED Elanco delivers 10% organic growth, raises FY guidance to $1.2B innovation target

Revenue & Profitability

Q1 2026 revenue was $1.371 billion, up 15% reported (10% organic constant currency). Adjusted EBITDA was $334 million, up 21% year-over-year. Adjusted EPS was $0.40, up 8%. The company raised full-year 2026 guidance: organic constant currency revenue growth 5%-7%, adjusted EBITDA $975 million-$1.005 billion, and adjusted EPS $1.03-$1.09. Net leverage was 3.5x at quarter end, with a new year-end target of 3.0x-3.2x.

Outlook

Management sees durable industry growth driven by pet humanization and protein demand, with an expected $20 billion in industry value over the next decade. Specific tailwinds include a robust parasiticide season (tick bites at a decade high) and growing dermatology market. Headwinds include heightened competitive pressures, generics, and potential consumer economic shifts. The company's guidance is balanced and does not assume improvement in vet visit volumes.

Growth Drivers

Key growth levers include Zenrelia (blockbuster, in 45 countries, over 2 million dogs treated), Credelio Quattro (accelerating share gains, 53% share in carrying clinics), Befrena (new mAb launch in Q2), and AdTab (fastest-growing OTC ecto brand in Europe, up >50%). International pet health grew 9% and farm animal grew 13% organic constant currency. U.S. pet health is expected to accelerate to high single-digit to low double-digit growth in H2 2026.

Balance Sheet & CapEx

Not discussed in this earnings call.

Margins

Q1 adjusted gross margin was 57%, down 40 bps year-over-year due to inflation and product mix (strong farm animal sales). Management expects meaningful gross margin expansion in H2 as inventory costs normalize and pet health mix improves. Operating expenses increased 6% due to launch investments. The Elanco Ascend productivity program targets efficiencies, with 75% of benefits in gross margin, driving long-term margin expansion.

Key Risks

Risks flagged include potential consumer economic downturns affecting pet spending, increased competition from generics, and ongoing regulatory dynamics (FDA requested additional data for Zenrelia label improvement, study underway, submission by year-end). The Q2 guidance also notes lapping pre-tariff buying in China. Management monitors external headwinds but sees stronger opportunities outweighing risks.

Generated by AI · Q1 2026 results · Not investment advice

✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter

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📞 Earnings Call Transcripts (5)

Q2 2026 Q2 2026 2026-08-05

Q2 2026 saw 8% organic revenue growth, margin expansion, and strong innovation-driven gains, especially from Zenrelia and Credelio Quattro. Full-year guidance was raised for revenue, EBITDA, and EPS, with continued investment in launches and productivity initiatives.

Q1 2026 Q1 2026 2026-05-06

Q1 2026 saw 10% organic revenue growth, outpacing guidance, with strong performance across all segments and innovation products. Full-year guidance was raised for revenue, adjusted EBITDA, and EPS, while deleveraging continues and new retail and M&A initiatives expand reach.

Q4 2025 Q4 2025 2026-02-24

Delivered strong Q4 and full-year 2025 results, with 9% organic revenue growth and outperformance in innovation. 2026 guidance calls for 4%-6% revenue growth, margin expansion, and continued investment in launches and R&D, supported by robust pet and farm animal demand.

Q3 2025 Q3 2025 2025-11-05

Q3 delivered 9% organic revenue growth, with strong gains in U.S. Farm and Pet Health. Innovation revenue and guidance were raised, and net leverage improved to 3.7x. Full-year outlook was increased for revenue, adjusted EBITDA, and EPS, with continued margin and cash flow strength expected.

Q2 2025 Q2 2025 2025-08-07

Q2 2025 saw 8% organic constant currency revenue growth, led by U.S. Pet Health and innovation products. Full-year guidance was raised for revenue, Adjusted EBITDA, and EPS, with strong cash generation driving rapid debt paydown and improved leverage targets.

📊 Analysis Methodology

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