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Elanco reports:

First Quarter 2022 Financial Results
- Revenue of $1,225 million
- Reported Net Income of $48 million, Adjusted Net Income of $177 million
- Adjusted EBITDA of $339 million or 27.7% of Revenue
- Reported EPS of $0.10, Adjusted EPS of $0.36

Updating full year 2022 revenue guidance to be $4,700 to $4,755 million, due to the negative impact of foreign exchange
rates; constant currency revenue growth guidance remains unchanged.

Increasing guidance for full year 2022 diluted EPS to $0.02 to $0.09 on a reported basis and updating guidance to $1.15 to $1.21 on an adjusted basis, due to the negative impact of foreign exchange rates.

Providing financial guidance for the second quarter 2022 with revenue of $1,160 to $1,200 million, and diluted EPS of $(0.05) to $0.02 on a reported basis, or $0.22 to $0.28 on an adjusted basis.

Announced strategic alliance with Royal DSM, for exclusive U.S. rights to Bovaer, a methane-reducing feed product for cattle.

Greenfield, IN - Elanco Animal Health Incorporated (NYSE: ELAN) today reported financial results for the first quarter of 2022, provided guidance for the second quarter of 2022, and updated guidance for the full year 2022.

"Our first quarter financial results demonstrate continued consistent delivery and strong execution across our global enterprise with revenue, adjusted EBITDA and adjusted EPS all exceeding the mid-point of our guidance. We are already seeing the benefits of a leaner, more agile organization, contributing to our ability to reduce operating expenses sequentially and adapt quickly to the changing macro environment," said Jeff Simmons, Elanco president and chief executive officer.

"Elanco is well positioned in the durable Animal Health industry, our strategy is working, and the team is consistently delivering on the items within our control, including our company-wide productivity agenda and price. We remain confident in our guidance after adjusting for the continued strengthening of the U.S. dollar," said Simmons.

"Additionally, we continue to strengthen the business and advance our late-stage pipeline, including achieving two major milestones for our Pet Health potential blockbuster candidates, and with our recently announced strategic alliance with Royal DSM for Bovaer in the U.S. These advances and the execution of the Elanco team provide a foundation for the next era of growth at Elanco and continued value for our customers."

To view the complete report, click here.

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