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1ST QUARTER: LEGACY ELANCO'S REVENUES UP 4%, DOUBLES FROM BAYER ACQUISITION, REPORTS A LOSS
May 10, 2021
Elanco reports:
To view the complete report, click here.
Greenfield, IN - Elanco Animal Health Incorporated (NYSE: ELAN) today reported strong financial results for the first quarter of 2021, provided guidance for the second quarter of 2021, and updated guidance for the full year 2021. The results reflect the inclusion of the Bayer Animal Health business Elanco acquired on August 1, 2020.
"Elanco started the year with better than expected results, building on the strong momentum our business has shown since closing the Bayer Animal Health acquisition in August 2020," said Jeff Simmons, president and chief executive officer at Elanco. "Over the past two years, we have made several hard strategic decisions. Today we are seeing the payoff from those choices, and from the disciplined execution that I believe truly sets Elanco on a path to be a global animal health leader.
"In the first quarter, we achieved broad-based outperformance across categories and geographies, with expense leverage and synergy execution driving strong flow-through. Our innovation pipeline is on track to yield eight launches in 2021, and our productivity agenda is intact with rapid action to integrate Bayer. We are confident our strengthened and expanded innovation, portfolio, and productivity strategy, or IPP, will continue to drive long-term value creation for shareholders and society."
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