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Elanco Animal Health Reports Fourth Quarter and Full Year 2024 Results
ELANElanco(ELAN) Prnewswire·2025-02-25 12:05

Core Insights - Elanco Animal Health reported strong financial results for Q4 and full year 2024, achieving its sixth consecutive quarter of organic constant currency revenue growth, with Q4 revenue up 4% [2][4] - The company demonstrated broad-based strength across its diverse portfolio, with growth in both Pet Health and Farm Animal segments, exceeding innovation revenue targets for 2024 and raising the goal for 2025 [2][5] - Elanco generated over 500millioninoperatingcashflowin2024,doublingfromthepreviousyear,andreportedanetlossof500 million in operating cash flow in 2024, doubling from the previous year, and reported a net loss of 8 million for Q4, significantly improved from a net loss of 141millioninQ42023[4][18]FinancialHighlights−Q42024totalrevenuewas141 million in Q4 2023 [4][18] Financial Highlights - Q4 2024 total revenue was 1,020 million, a decrease of 1% on a reported basis but an increase of 4% on an organic constant currency basis compared to Q4 2023 [4][9] - Pet Health revenue for Q4 was 439million,up6439 million, up 6% year-over-year, driven by strong OTC retail parasiticide sales and key innovation products [10] - Farm Animal revenue for Q4 was 570 million, down 7% on a reported basis but up 2% on an organic constant currency basis, supported by strong demand for specific products [11] Full Year Results - For the full year 2024, Elanco reported total revenue of 4,439million,flatcomparedtotheprioryearonareportedbasisandup34,439 million, flat compared to the prior year on a reported basis and up 3% on an organic constant currency basis [5][7] - Reported net income for 2024 was 338 million, with adjusted net income of 452million,reflectingsignificantimprovementfromanetlossof452 million, reflecting significant improvement from a net loss of 1,231 million in 2023 [7][54] - Adjusted EBITDA for 2024 was 910million,representing20.5910 million, representing 20.5% of revenue, with reported EPS of 0.68 and adjusted EPS of 0.91[5][7]2025Guidance−Elancoprovidedguidancefor2025,expectingrevenuebetween0.91 [5][7] 2025 Guidance - Elanco provided guidance for 2025, expecting revenue between 4,445 million and 4,510million,withareportednetlossorincomerangingfrom4,510 million, with a reported net loss or income ranging from (25) million to 7million[21][22]−Thecompanyanticipatesaforeignexchangeheadwindofapproximately7 million [21][22] - The company anticipates a foreign exchange headwind of approximately 110 million to revenue and 45milliontoadjustedEBITDAfor2025[22][24]−ForQ12025,revenueisexpectedtobebetween45 million to adjusted EBITDA for 2025 [22][24] - For Q1 2025, revenue is expected to be between 1,155 million and 1,180million,withadjustedEPSprojectedbetween1,180 million, with adjusted EPS projected between 0.29 and $0.34 [25][26] Business Developments - Elanco launched Credelio Quattro™ in January 2025 and achieved significant market penetration with Zenrelia™ in the U.S. [6] - The company strengthened its leadership in the U.S. Farm Animal market, achieving blockbuster status for Experior® [6] - Elanco's strategic investments in innovation and marketing are expected to drive growth in 2025, with a focus on mid-single digit organic constant currency revenue growth [24][22]