Elanco Animal Health Sets 2019 Guidance

   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 [e-mail]

(END) Dow Jones Newswires

December 18, 2018 07:28 ET (12:28 GMT)

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