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1ST HALF: ELANCO'S SALES DOWN 18%, REPORTS AT $102 MILLION LOSS
Source: Elanco news release

*Total Revenue for the second quarter was $586.3 million, a decrease of 25 percent. On a constant currency basis, Total Revenue declined 23 percent primarily due to a reduction in channel inventory and lower demand resulting from the COVID-19 pandemic.

*Earnings per share (EPS) was $(0.13) (reported), or $0.09 (adjusted).

*Cash and cash equivalents improved to $1.4 billion as of June 30, 2020, as a result of disciplined operating and capital expense management, improved receivable terms, and the sale of our Australia facility.

*Bayer Animal Health acquisition remains on track to close at the beginning of August; Antitrust, financing, and pre-close integration milestones are complete.

*Third Quarter 2020 Revenue expected to be between $660 and $710 million for legacy Elanco, excluding revenue from divestitures and with continued impact from the COVID-19 pandemic, primarily in livestock.

GREENFIELD, Ind. - Elanco Animal Health Incorporated (NYSE: ELAN) today reported its financial results for the second quarter of 2020. The performance reflects the reduction of channel inventory and lower levels of demand resulting from the COVID-19 pandemic. Elanco's innovation, portfolio, and productivity strategy continues to be the focus, and its long-term industry fundamentals and durability remain intact.

To read the entire report click here


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