Elanco reports Q4 adjusted EPS 19c, consensus 13c

Reports Q4 revenue $988M, consensus $980.94M. "Elanco’s 2022 results demonstrate our ongoing dedication to our Innovation, Portfolio, and Productivity strategy, with significant advancement in our innovation pipeline and productivity gains across the company," said CEO Jeff Simmons. "Although we continued to experience environmental and competitive pressure on our topline performance, we delivered operating cost discipline contributing to an Adjusted EBITDA margin expansion of 90 basis points for the year. Most importantly, we delivered the expected submissions for two pet health potential blockbusters and added eight product approvals in major markets including differentiated feline innovations. We have also made great strides in meeting the FDA’s requirements to commercialize Bovaer and now anticipate a first half 2024 approval and launch…As we look to 2023, we recognize environmental and competitive pressures will persist; but are encouraged by strengthening Elanco tailwinds from price, innovation and improving supply. In the coming months, our global teams are focused on successfully executing our systems integration and enhancing our commercial excellence to capture the full value of the historic launch window in front of us, while maximizing our existing diverse portfolio."