Elanco Animal Health, Inc. (ELAN) reported Wednesday a net loss of $34 million or $0.07 per share for the third quarter, compared to net income of $364 million or $0.73 per share in the prior-year quarter.
Excluding items, adjusted earnings for the quarter was $0.19 per share, compared to $0.13 per share in the year-ago quarter.
On average, 11 analysts polled expected the company to report earnings of $0.13 per share for the quarter. Analysts' estimates typically exclude special items.
Total revenue for the quarter grew 10 percent to $1.14 billion from $1.03 billion in the same quarter last year. Organic constant currency revenue growth was 9 percent. Analysts expected revenues of $1.09 billion for the quarter.
Looking ahead to the fourth quarter, the company expects a loss in a range $0.20 to $0.17 per share and adjusted earnings in a range of $0.09 to $0.12 per share on revenues between $1.085 billion and $1.110 billion, with organic constant currency revenue growth of 4 to 6 percent. Analysts expect earnings of $0.14 per share on revenues of $1.08 billion for the quarter.
For fiscal 2025, the company now projects a loss in a range $0.11 to $0.08 per share and adjusted earnings in a range of $0.91 to $0.94 per share on revenues between $4.645 billion and $4.670 billion, with organic constant currency revenue growth of 6 to 6.5 percent.
Previously, the company expected a loss in the range $0.08 to $0.03 per share and adjusted earnings in the range of $0.85 to $0.91 per share on revenues between $4.570 billion and $4.620 billion, with organic constant currency revenue growth of 5 to 6 percent.
The Street is looking for earnings of $0.91 per share on revenues of $4.60 billion for the year.
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