Elanco Animal Health Reports Third Quarter 2026 Results
Key Highlights
- ➤Q3 revenue $1.265 billion, up 11% year-over-year and 9% organic constant currency
- ➤Adjusted EPS $0.27, up 42%; adjusted EBITDA $243 million, up 23%
- ➤2026 revenue guidance raised to $5.155 billion-$5.18 billion
- ➤2026 adjusted EBITDA guidance raised to $1.05 billion-$1.065 billion
- ➤Net leverage reached 2.9x adjusted EBITDA, unlocking accelerated capital allocation flexibility
Expert Statements
Jeff Simmons, President and CEO of Elanco Animal Health
“Third quarter results demonstrate Elanco is a consistent, reliable growth company, delivering our diverse portfolio of innovation along with accelerating cash flow.”
Jeff Simmons, President and CEO of Elanco Animal Health
“Organic constant currency revenue growth of 9% was led by International Pet Health up 17% and U.S. Pet Health up 13%, as we saw strong veterinarian and pet owner demand for what we believe is 'best medicine' innovation for our 'Big 6' growth led by Zenrelia and Credelio Quattro.”
Jeff Simmons, President and CEO of Elanco Animal Health
“Price accelerated to 4% growth, exceeding our expectations, while volume remained robust at 5%.”
Jeff Simmons, President and CEO of Elanco Animal Health
“Our durable top-line is fueled by a significant runway for share gains off a small base in large, growing, global markets.”
Jeff Simmons, President and CEO of Elanco Animal Health
“Both Zenrelia and Credelio Quattro reached new market share highs in September, with competitive activity having no fundamental impact on the trajectory of our innovation.”
Jeff Simmons, President and CEO of Elanco Animal Health
“At the same time, adjusted gross margin expanded 300 basis points, we invested in our commercial execution, and we drove our net leverage ratio to the 2.9x milestone which accelerates our capital allocation flexibility.”
Jeff Simmons, President and CEO of Elanco Animal Health
“As we are raising full-year guidance to fully pass through the third quarter beat, Elanco is well positioned with momentum heading into 2027.”
Jeff Simmons, President and CEO of Elanco Animal Health
“We are recommitting to our annual algorithm of mid-single digit organic constant currency revenue growth, high-single digit adjusted EBITDA growth, and low-double digit adjusted EPS growth, building on this year's expected outperformance and creating sustainable value for our customers, our shareholders, and the industry.”
Bob VanHimbergen, Executive Vice President and CFO of Elanco Animal Health
“Elanco achieved significant adjusted gross margin expansion in the third quarter, up 300 basis points reflecting accelerating price gains to 4% year-over-year and beneficial mix, as well as early progress on our Elanco Ascend productivity initiatives.”
Bob VanHimbergen, Executive Vice President and CFO of Elanco Animal Health
“At the same time, we have continued our high-ROI investments in our launches.”
Bob VanHimbergen, Executive Vice President and CFO of Elanco Animal Health
“Our consistent top-line growth and improved profitability, alongside working capital discipline, have increased free cash flow and brought our net leverage ratio to 2.9x at quarter-end.”
Bob VanHimbergen, Executive Vice President and CFO of Elanco Animal Health
“Reaching this key milestone earlier than anticipated now unlocks accelerated capital allocation flexibility.”
Elanco Animal Health Reports Third Quarter 2026 Results PR Newswire
Accelerated Price, Organic Constant Currency Revenue Growth, and Gross Margin Expansion; Raising Full Year Outlook and Innovation Target; Achieved 2.9x Net Leverage Ratio Milestone
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