Elanco Animal Health (ELAN) Misses Q1 EPS by 10c
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Elanco Animal Health Reports 2020 First Quarter Results
May 7, 2020 6:30 AM EDTTotal Revenue was $657.7 million, a decrease of 10 percent. On a constant currency basis, Total Revenue declined 9 percent due to a reduction of approximately $60 million in channel inventory driven by factors resulting from the COVID-19 pandemic. Gross margin was 49.4 percent of revenue (reported), or 50.1 percent of revenue (adjusted). Earnings per share (EPS) was $(0.12) (reported), or $0.13 (adjusted). Bayer Animal Health acquisition remains on track for mid-year close; Antitrust approval process progressing; new members of expanded executive leadership team announced. Long-term industry fundamentals remain intact; 2020... More
