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Elanco Animal Health Q4 Adj. Earnings Meet View; Backs FY20 Outlook

Elanco Animal Health Inc. (ELAN) on Wednesday reported net loss for the fourth quarter of $9.5 million or $0.03 per share, compared with net income of $16.4 million or $0.04 per share for the same period in 2018.

Excluding items, adjusted earnings for the quarter were $0.23 per share, compared to $0.29 per share in the year-ago period.

Total revenue for the quarter declined 2 percent to $787.0 million from $799.3 million in the year-ago period. Revenue decreased 1 percent without the impact of foreign exchange rates, compared with the year-ago quarter.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $0.23 per share for the quarter on revenues of $791.5 million. Analysts' estimates typically exclude special items.

Looking ahead to fiscal 2020, Elanco affirmed its outlook for reported earnings per share of $0.04 to $0.16, adjusted earnings per share of $1.09 to $1.16, and revenue of $3.05 billion to $3.11 billion.

The Street expects earnings of $1.14 per share for the year on revenues of $3.1 billion.

Elanco also said it look towards a mid-2020 close of the Bayer Animal Health transaction.

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