What is the revenue and EPS growth rate for Elanco Animal Health year over year?

What factors drove the changes in Elanco Animal Health's revenue and profit?

What is the market's earnings forecast for Elanco Animal Health next quarter?

Did Elanco Animal Health beat or miss consensus estimates last quarter?

What guidance did Elanco Animal Health's management provide for the next earnings period?

What were the key takeaways from Elanco Animal Health’s earnings call?

What is Elanco Animal Health's latest dividend and current dividend yield?

What does Elanco Animal Health do and what are its main business segments?

- **Revenue Beat**: 9% organic growth driven by U.S. Farm (+20%) and Pet Health (+9%), with innovation revenue up 15% YoY to $655M.
- **Blockbuster Products**: Quattro reached $100M in 8 months; Zenrelia gains 18% new patients and label clarity in U.S.
- **Financial Strength**: Net leverage 3.7x, $562M debt paydown, and 2025 EBITDA raised to $880-900M.
- **Investment Strategy**: 8-10% OpEx growth for DTC, with 2026 margin expansion via Elanco Ascend.
- **Tariff Mitigation**: $10-14M impact offset by $15M FX tailwinds, with 2026 interest expense up $15M.


**【CEO Summary Section】**
- **Revenue Growth**: Organic constant currency revenue grew 9% year-over-year, driven by U.S. Farm Animal (+20%) and U.S. Pet Health (+9%).
- **Innovation Success**: Innovation revenue reached $655 million year-to-date, with Quattro becoming a $100 million blockbuster in under 8 months. Zenrelia achieved 8% global sales growth and 18% new patient starts.
- **Guidance Raise**: Full-year organic growth updated to 6-6.5%, adjusted EBITDA to $880-900 million, and adjusted EPS to $0.91-0.94.
- **Financial Strength**: Net leverage ratio improved to 3.7x, with $562 million debt paydown year-to-date. Refinanced $2.1 billion Term Loan B to extend maturities to 2032.

**【CFO Financial Commentary】**
- **Q3 Results**: Reported revenue $1.137 billion (+10%), adjusted EBITDA $198 million (+$35 million), and adjusted EPS $0.19 (+$0.06 YoY).
- **Cost Management**: Operating expenses grew 7% YoY, below target, with $12 million interest expense reduction. Gross margin expanded 90 bps to 53.1%.
- **2025 Outlook**: Includes $10-14 million tariff impact, with FX tailwinds contributing $15 million to EBITDA. 2026 interest expense expected to increase $15 million due to swap expiration.

**【Q&A Highlights】**
- **Quattro Momentum**: Reached $100 million in 8 months, with 70% share capture from competitors. U.S. broad-spectrum endecto market growing 40%.
- **Zenrelia Label Progress**: FDA removed vaccine-induced disease warning, with 13 months of U.S. use data supporting label consistency with global approvals.
- **OpEx Strategy**: No-regrets DTC investments driving 8-10% OpEx growth, with Elanco Ascend program targeting 2026 margin expansion.
- **Farm Animal Resilience**: Experior up 70% YoY, benefiting from small U.S. cattle herd. Bovaer demand stable from CPG partners despite no government incentives.


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