Elanco Animal Health Inc Up 14.32% To $10.70 After Earnings Beat

Elanco Animal Health Inc (ELAN) said before open Tuesday that it earned $0.18 per share in quarter three 2023. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.

On the revenue line, the company reported $1.1 billion, beating estimates by $28 million.

In the same quarter a year ago, the company earned $0.2 per share on revenue of $1 billion.

The stock is up 14.32% to $10.70 after the report.

The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.

The average recommendation from Wall Street analysts was a Hold which may get revised based on this new data.

Trading in the five days leading up to the report earned Elanco Animal Health Inc a Bullish Sentiment Rank from InvestorsObserver.

Prior to the report, InvestorsObserver gave the stock an overall score of 29. Meanwhile, the average Wall Street analyst rated the stock a Hold.

Elanco Animal Health Inc is an animal health company that is engaged in innovating, developing, manufacturing, and marketing products for companion and food animals. Geographically, the company's operations are conducted globally and sell its products in over 90 countries. It offers a range of food animal products used in cattle, sheep, goats, and swine production.