Elanco Animal Health Incorporated reported third quarter 2024 revenue of $1,030 million, a 4% decrease on a reported basis, but a 1% increase in organic constant currency. This marked the fifth consecutive quarter of underlying organic constant currency revenue growth, driven by new products like Experior, Adtab, and Zenrelia.
The company reported a net income of $364 million, a significant increase from a net loss of $1,096 million in Q3 2023, primarily due to a $640 million gain on the divestiture of the aqua business. Adjusted EPS for the quarter was $0.13, a 28% decrease year-over-year, while Adjusted EBITDA was $163 million, down 24%.
Elanco tightened its full-year 2024 revenue guidance to $4,420 million to $4,450 million and adjusted EBITDA guidance to $900 million to $930 million. The company also provided a 2025 outlook, expecting mid-single-digit organic constant currency growth and innovation sales of $600 million to $700 million, but noted an anticipated $25 million to $35 million adjusted EBITDA headwind from a U.K. contract manufacturing partner's insolvency.
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