Every 10-Q that Elanco Animal Health (ELAN) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow ELAN and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full ELAN filings page.
Elanco Animal Health reported stronger results for the quarter ended June 30, 2026. Revenue rose to $1,368 million from $1,241 million, led by Pet Health ($718 million) and Farm Animal ($633 million). Gross margin improved to 58.3%, and net income increased to $54 million, or diluted EPS of $0.11, up from $0.02.
For the first half of 2026, revenue grew 13% to $2,739 million and net income reached $111 million (EPS $0.22). Operating cash flow was $290 million. Elanco closed the $243 million acquisition of AHV International to expand its cattle portfolio and is executing a 2025 restructuring plan expected to deliver $25 million savings in 2026 and $60 million in 2027.
Elanco ended the period with $530 million in cash, total debt (excluding finance leases) of $3,663 million, and a $315 million liability for sale of future XDEMVY royalties carrying an effective interest rate of 18.3%. The company reports ample liquidity with an undrawn $750 million revolver and interest-rate and currency hedges covering much of its debt and non‑U.S. operations.
Elanco Animal Health delivered solid top-line growth in the quarter ended March 31, 2026, with revenue rising 15% to $1,371 million, driven by double-digit gains in both pet health and farm animal products across U.S. and international markets.
Despite higher sales, net income declined to $57 million from $67 million, and diluted EPS fell to $0.11, as amortization, restructuring costs and higher interest expense, including on a liability for future royalty sales, weighed on profit. Cash flow from operations turned modestly positive, cash stood at $428 million, and long-term debt remained significant at about $3.9 billion. Elanco advanced its pipeline and strategy with approvals and launches for Zenrelia and Credelio Quattro and closed the AHV farm animal acquisition shortly after quarter end, while progressing its 2025 restructuring plan aimed at margin expansion.
Elanco Animal Health (ELAN) filed its Q3 2025 10‑Q, reporting revenue of $1,137 million, up from $1,030 million a year ago. Gross profit was $607 million. The quarter showed a net loss of $34 million (basic and diluted EPS of $(0.07)), compared to a prior-year period boosted by a $640 million gain on an asset sale. Year-to-date net income was $44 million.
Pet Health revenue was $533 million and Farm Animal totaled $593 million. Operating cash flow for the first nine months reached $452 million. Cash was $505 million, and long‑term debt (excluding finance lease) was $3,769 million, down from $4,321 million at year‑end. In May, Elanco monetized certain future XDEMVY royalties for $295 million, recorded as a $300 million liability with a 16.2% effective interest rate. Subsequent to quarter‑end, the company refinanced debt with new facilities and fully repaid its prior Term Loan B; the weighted‑average effective interest rate decreased to 5.77% as of October 31, 2025. Shares outstanding were 496,863,473 as of October 31, 2025.
Elanco (ELAN) Q2 2025 10-Q highlights:
- Revenue rose 4.8% YoY to $1.24 bn; pet-health up 11% to $643 m, offsetting the divested aqua unit (zero vs $49 m).
- Gross margin held at 57.4% (713 m/1,241 m).
- Operating profile: SG&A climbed 13% to $400 m; R&D up 3% to $92 m; special charges plunged to $1 m from $80 m, driving a swing to positive pretax income of $25 m (-$32 m LY).
- Net income $11 m vs -$50 m; diluted EPS $0.02 vs -$0.10.
- Six-month totals: revenue +1.9% to $2.43 bn; net income $78 m vs -$18 m.
- Cash flow: operating cash +15% to $233 m; FCF negative as capex doubled to $122 m (new HQ).
- Balance sheet: cash $539 m (+$71 m YTD); total debt trimmed to $3.95 bn (ex-lease) from $4.32 bn; however a new $255 m finance lease and $293 m liability tied to royalty sale raise fixed commitments.
- Inventory up 6% YoY to $1.67 bn; accounts receivable +23%.
- Leverage: ~4.1× EBITDA remains high but 89% of debt is fixed; interest expense down 26% YoY.
- Strategic moves: • Closed $295 m royalty monetization with Blackstone (16.1% implied IRR). • HQ lease in Indianapolis (option to buy at $250 m in 2030). • Continued rollout of Zenrelia, Credelio Quattro, Bovaer; EU Zenrelia approval in Jul-25.
- Guidance not updated in filing.
Key takeaways: Return to profitability aided by lower one-offs and interest expense; pet-health momentum strong. Balance-sheet de-risking continues, but inventory build, rising SG&A and new fixed obligations temper the improvement.