Elanco Animal Health Reports Fourth Quarter and Full Year 2020 Results
Elanco Animal Health Incorporated (NYSE: ELAN) today reported its financial results for the fourth quarter and full year of 2020, increased guidance for full year 2021, and provided initial guidance for the first quarter of 2021. The results reflect the inclusion of the Bayer Animal Health business that Elanco acquired on August 1, 2020.
“Elanco is entering 2021 with good momentum. Fourth quarter revenue surpassed our guidance as U.S. Pet Health, U.S. Farm Animal, and China swine outperformed our expectations. Adjusted EPS came in at the high-end of the range with our productivity agenda intact, partly offsetting what were largely one-time and targeted investments in our future growth and our people. Innovation is progressing as outlined at our December Investor Day, and our eight launches planned for 2021 are on track,” said Jeff Simmons, president and chief executive officer at Elanco. “Additionally, we are rapidly executing on the necessary actions to drive synergies from the Bayer Animal Health acquisition, taking important steps toward being an agile, fit-for-purpose animal health leader. Today, we are increasing our 2021 guidance to reflect the ongoing advancement of our Innovation, Portfolio, Productivity (IPP) strategy in driving shareholder value, and continued confidence in our underlying fundamentals and market positioning.”
In the fourth quarter, Elanco results compared to the company's December 15, 2020 guidance as follows:
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