Elanco Animal Health Stock Gains On Strong Q2 Earnings, Upbeat Annual Guidance
Portfolio Pulse from Vandana Singh
Elanco Animal Health Inc (ELAN) reported Q2 FY23 revenue of $1.06 billion, a decrease of 10% Y/Y, but above the consensus of $1.04 billion. Adjusted EPS was $0.18, surpassing the management guidance of $0.00-$0.05 and analysts' view of $0.05. The company raised its FY23 revenue guidance to $4.35-$4.41 billion, driven by increased expectations for U.S. Pet Health, poultry, and aqua. ELAN shares are up 8.03% at $12.59.
August 07, 2023 | 1:59 pm
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Elanco's Q2 FY23 revenue and EPS surpassed expectations, leading to a rise in its stock price. The company also raised its FY23 revenue guidance.
Elanco's Q2 FY23 revenue and EPS surpassed expectations, which is a positive signal to investors. The company's decision to raise its FY23 revenue guidance also indicates confidence in its future performance, which could further boost investor sentiment and potentially lead to a rise in its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100