Elanco Animal Health Sets 2019 Guidance
December 18 2018 - 6:43AM
Dow Jones News
By Colin Kellaher
Elanco Animal Health Inc. (ELAN) on Tuesday forecast 2019
revenue and earnings in line with Wall Street's expectations.
The Greenfield, Ind., animal-health company, which is being spun
off by drug maker Eli Lilly & Co. (LLY), said it expects
revenue of $3.1 billion to $3.16 billion and adjusted earnings of
$1.02 to $1.12 a share.
Analysts polled by FactSet were expecting Elanco to post an
adjusted per-share profit of $1.07 on revenue of $3.11 billion next
year.
Elanco said it sees positive fundamentals across the
animal-health industry, including increasing pet ownership and
spending, aging pets, and rising global demand for protein.
The company also affirmed its full-year 2018 guidance for
revenue of $3.05 billion to $3.08 billion and adjusted per-share
earnings of $1.14 to $1.16.
Eli Lilly sold about 19.8% of Elanco in an initial public
offering in September and has said it plans to divest itself of the
remaining 80.2% through a tax-efficient transaction.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
December 18, 2018 07:28 ET (12:28 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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