Elanco Animal Health Gains 9% As Earnings Beat Street

(RTTNews) - Shares of Elanco Animal Health Incorporated (ELAN) are rising more than 9% Thursday morning after reporting better-than-expected fourth quarter results.

Net loss for the fourth quarter narrowed to $97 million or $0.20 per share from net loss of $323 million or $0.66 per share in the same quarter a year ago.

Excluding one-time items, earnings were $0.21 per share, that beat the average estimate of analysts polled by Thomson Reuters at $0.17 per share.

Revenue for the quarter decreased to $1.113 billion from $1.14 billion last year. The consensus estimate was for $1.1 billion.

Looking forward to the full year 2022, the company expects revenue to be in the range of $4.745 billion-$4.8 billion. Adjusted EPS is expected between $1.18 and $1.24. Analysts expect earnings of $1.22 per share on revenue of $4.86 billion.

ELAN, currently at $28.11, has traded in the range of $24.14-$37.49 in the past 52 weeks.