Elanco Animal Health Ups Annual Revenue Outlook, Expects Q2 Profit Below View: Pre-Market Stock Up

(RTTNews) - Elanco Animal Health Inc. (ELAN), a drug maker focused on pets and livestock, on Tuesday revised up its annual revenue guidance, citing positive foreign exchange impact.

For the full year, the company now expects revenue of $4.510 billion to $4.580 billion, higher than the previous outlook of $4.445 billion to $4.510 billion.

Excluding items, the company has reaffirmed its annual earnings outlook of $0.80 to $0.86 per share.

The company, however, now expects full-year net loss to be in the range of $35 million to $7 million, or $0.07 to $0.01 per share, compared with the previous guidance for a loss of $25 million to a profit of $7 million, or negative $0.05 to positive $0.01 per share.

On average, analysts polled, forecast Elanco to register annual earnings of $0.83 per share on revenue of $4.5 billion. Analysts' estimates typically exclude special items.

For the second quarter, Elanco anticipates to post net loss of $22 million to $3 million, or $0.04 to $0.01 per share. Excluding items, earnings are projected to be in the range of $0.17 to $0.21 per share.

The second-quarter revenue is anticipated to be in the range of $1.175 billion to $1.195 billion. Analysts, on average, expect the firm to earn $0.25 per share with revenue of $1.18 billion for the second quarter.

For the second quarter, the company expects a headwind to revenue of around $5 million from the unfavorable impact of foreign exchange. Excluding the unfavorable impact of foreign exchange and the aqua divestiture, the company expects 4 to 6 percent organic constant currency revenue growth.

ELAN was up by 3.47 percent at $9.84 in the pre-market trade on the New York Stock Exchange.