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Elanco TM Elanco Animal Health 2500 Innovation Way Greenfield , IN 46140 FOR IMMEDIATE RELEASE Investor Contact : Tiffany Kanaga ( 302 ) 897-0668 or tiffany.kanaga@elancoah.com Media Contact : Colleen Parr Dekker ( 317 ) 989-7011 or colleen.dekker@elancoah.com ● Elanco Animal Health Reports First Quarter 2021 Results Exceeded first quarter 2021 guidance ; Updating full year 2021 guidance , raising and tightening adjusted ranges Revenue in the first quarter was $ 1,242 million , comprised of $ 683 million from the legacy Elanco portfolio and $ 559 million from the legacy Bayer Animal Health portfolio . Gross margin was 54.2 % on a reported basis and 59.2 % on an adjusted basis , benefiting from the addition of the Bayer Animal Health portfolio as well as continued productivity improvements . Earnings per share ( EPS ) was $ ( 0.12 ) ( reported ) , or $ 0.37 ( adjusted ) . Updating financial guidance for the full year 2021 with revenue of $ 4,680 to $ 4,730 million , diluted EPS of $ ( 0.35 ) to $ ( 0.26 ) on a reported basis , or $ 1.00 to $ 1.06 on an adjusted basis , reported net loss of $ ( 170 ) to $ ( 125 ) million , and adjusted EBITDA of $ 1,055 to $ 1,095 million . Providing financial guidance for the second quarter of 2021 with revenue of $ 1,225 to $ 1,255 million , diluted EPS of $ ( 0.08 ) to $ ( 0.01 ) on a reported basis , or $ 0.22 to $ 0.27 on an adjusted basis , reported net loss of $ ( 35 ) to $ ( 10 ) million , and adjusted EBITDA of $ 250 to $ 275 million . Separate Form 8 - K provides comprehensive information demonstrating the Seresto flea and tick collar's safety profile . Full year global Seresto revenue is on track toward 2021 expectations as set at the start of the year . 11 of 13 geographic approvals received to support company's eight key 2021 launches . GREENFIELD , Ind . ( May 7 , 2021 ) - Elanco Animal Health Incorporated ( NYSE : ELAN ) today reported strong financial results for the first quarter of 2021 , provided guidance for the second quarter of 2021 , and updated guidance for the full year 2021. The results reflect the inclusion of the Bayer Animal Health business Elanco acquired on August 1 , 2020 . " Elanco started the year with better than expected results , building on the strong momentum our business has shown since closing the Bayer Animal Health acquisition in August 2020 , " said Jeff Simmons , president and chief executive officer at Elanco . " Over the past two years , we have made several hard strategic decisions . Today we are seeing the payoff from those choices , and from the disciplined execution that I believe truly sets Elanco on a path to be a global animal health leader . In the first quarter , we achieved broad - based outperformance across categories and geographies , with expense leverage and synergy execution driving strong flow - through . Our innovation pipeline is on track to yield eight launches in 2021 , and our productivity agenda is intact with rapid action to integrate Bayer . We are confident our strengthened and expanded innovation , portfolio , and productivity strategy , or IPP , will continue to drive long - term value creation for shareholders and society . " In the first quarter , Elanco's results compared to the company's February 24 , 2021 guidance as follows : 1