Elanco reported 9% organic growth and leverage of 2.9 times, while reaffirming 2027 targets of mid-single-digit revenue growth, high-single-digit EBITDA growth and low-double-digit earnings growth.
ELAN · Elanco Animal Health Inc
You came from your AI assistant. Add Equibles to it and ask about this data directly, free.
Price & Indicators
Up next
Latest documents
Elanco Animal Health raised its 2026 organic constant-currency revenue growth outlook to approximately 8% from 6% to 7%, reported revenue guidance of $5.155 billion to $5.18 billion, and adjusted EPS guidance of $1.17 to $1.20.
Elanco reported revenue of $1,265 million, up 11%, and net income of $18 million versus a net loss of $34 million for the three months ended September 30, 2026.
Elanco Animal Health reported third-quarter 2026 revenue of $1.265 billion, up 11%, adjusted EPS of $0.27 and a 2.9x net leverage ratio. It raised 2026 revenue guidance to $5.155 billion to $5.18 billion.
Elanco targets mid-single-digit revenue growth, high-single-digit EBITDA growth and low-double-digit EPS growth through 2028, while advancing 15 clinical projects toward five to six pipeline additions by 2031.
Metrics snapshot
Useful current figures from the complete screener profile.
Quarterly results
* Q4 derived as the full year minus Q1 to Q3.
AI Brief
Q2 FY26 earnings call · Aug 5, 2026TL;DR. Elanco reported Q2 organic constant currency revenue growth of 8% and raised full-year guidance, including innovation revenue to ~$1.25 billion, adjusted EBITDA to $1.01–$1.035B, adjusted EPS to $1.10–$1.16, and improved its year-end net leverage target to ~3.0x. Results were driven by 11% growth in U.S. Pet Health and U.S. Farm Animal, led by Zenrelia and Credelio Quattro.
- + Reported 8% organic constant currency revenue growth and 11% growth in both U.S. Pet Health and U.S. Farm Animal, outperforming high end of guidance.
- + Raised full-year adjusted EBITDA guidance to $1.01–$1.035B (13% growth at midpoint) and adjusted EPS to $1.10–$1.16 (20% growth at midpoint).
- + Adjusted EBITDA grew 21% and adjusted EPS grew 31% year-over-year, with adjusted gross margin up 80 basis points.
- + Improved year-end net leverage target to approximately 3.0x from prior 3.0–3.2x range, with net debt down ~$90M in the quarter.
- + Zenrelia reached blockbuster status with U.S. JAK share up 9 points YoY and Credelio Quattro added 4 points of broad-spectrum share in Q2, reaching over 50% of U.S. clinics.
- − Reported net interest expense increased $11M YoY to $59M, partly from imputed interest on sale-of-future-revenue liability.
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Equibles Rating
blended score · not investment adviceBlended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.
Guidance & track record
Still-open targets the latest release did not restate under the same label.
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Technicals
trend & momentum for long-term holders Strong BuyIllustrative technical + ownership context — a signal mix, not investment advice.
Key metrics
the company's own KPIs, from written earnings releases and filings| Metric | Latest | Period | YoY |
|---|---|---|---|
| Adjusted earnings per share non-GAAP | $1.02 | Nine Months Ended September 30, 2026 | — |
|
|
|||
| Adjusted EBITDA non-GAAP | $865M | Nine Months Ended September 30, 2026 | — |
|
|
|||
| Adjusted EBITDA margin non-GAAP | 21.8% | Nine Months Ended September 30, 2026 | — |
|
|
|||
| Adjusted gross margin percentage non-GAAP | 57.1% | Nine Months Ended September 30, 2026 | — |
|
|
|||
| Adjusted gross profit non-GAAP | $2.26B | Nine Months Ended September 30, 2026 | — |
| Adjusted net income non-GAAP | $514M | Nine Months Ended September 30, 2026 | — |
|
|
|||
| Cash provided by operations | $216M | third quarter of 2026 | — |
| clinics | 19,000 | Q3 2026 | — |
| EBITDA non-GAAP | $861M | Nine Months Ended September 30, 2026 | — |
| Net debt non-GAAP | $3.01B | September 30, 2026 | — |
| new clinics | 1,600 | Q3 2026 | — |
| Price | 4% | Q3 2026 | — |
| Total gross debt non-GAAP | $3.73B | September 30, 2026 | — |
| U.S. JAK market share | 7 | September | — |
| U.S. share | 9 | September | — |
| volume | 5% | third quarter of 2026 | — |
| Befrena U.S. clinic shipments to date | 1,400 | Q2 2026 | — |
| Credelio Quattro U.S. clinic penetration | 50% | Q2 2026 | — |
| Net leverage ratio non-GAAP | 3.1 | as of June 30, 2026 | — |
| Organic constant currency growth non-GAAP | 8% | Q2 2026 | — |
| Trailing twelve month adjusted EBITDA non-GAAP | $1.01B | as of June 30, 2026 | — |
| U.S. JAK market share year-over-year change | 9 | Q2 2026 | — |
Figures exactly as the company stated them in writing · click a metric with a to chart its history · period links open the stating document · "filing" marks figures stated in the 10-K/10-Q · YoY needs an exactly comparable prior-year period
Versus peers
Drug Manufacturers - Specialty & Generic — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
ELAN
this stock
Elanco Animal Health Inc
|
$13.39B | +18.3% | +6.2% | — | 6.6% |
|
TAK
Takeda Pharmaceutical Co Ltd
|
$68.47B | +37.5% | — | — | 0.1% |
|
GALDY
Galderma Group AG
|
$53.23B | +10.1% | — | — | 0.0% |
|
TEVA
Teva Pharmaceutical Industries Ltd
|
$51.92B | +42.6% | +4.3% | 101.1 | 2.4% |
|
JHPCY
Jiangsu Hengrui Pharmaceuticals Co., Ltd.
|
$40.66B | — | — | — | 0.0% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every section- Filed
- Nov 9, 2026
- This year
- 18
Elanco reported 9% organic growth and leverage of 2.9 times, while reaffirming 2027 targets of mid-single-digit revenue growth, high-single-digit EBITDA growth and low-double-digit earnings growth.
ViewPerformance
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| ELAN | +4.0% | +13.7% | +17.4% | +16.1% | +18.3% |
| SPY | +2.6% | -1.2% | +0.5% | -0.2% | +10.6% |
| vs SPY | +1.5% | +14.9% | +16.9% | +16.3% | +7.7% |