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Elanco ● 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 ● TM Elanco Animal Health 2500 Innovation Way Greenfield , IN 46140 Elanco Animal Health Reports Second Quarter 2021 Results Exceeded second quarter 2021 guidance ; Increasing full year 2021 revenue outlook Revenue in the second quarter was $ 1,279 million , comprised of $ 750 million from the legacy Elanco portfolio and $ 529 million from the legacy Bayer Animal Health portfolio . Gross margin was 56.9 % on a reported basis and 57.0 % on an adjusted basis , benefiting from the addition of the Bayer Animal Health portfolio and continued productivity improvements . Earnings per share ( EPS ) was $ ( 0.43 ) ( reported ) , or $ 0.28 ( adjusted ) , including an approximate $ 0.03 negative impact from discrete tax items to adjusted EPS compared to guidance . Updating financial guidance for the full year 2021 with revenue of $ 4,680 to $ 4,730 million , diluted EPS of $ ( 0.72 ) to $ ( 0.64 ) on a reported basis , or $ 0.97 to $ 1.03 on an adjusted basis , reported net loss of $ ( 355 ) to $ ( 315 ) million , and adjusted EBITDA of $ 1,035 to $ 1,075 million . Providing financial guidance for the third quarter of 2021 with revenue of $ 1,075 to $ 1,100 million , diluted EPS of $ ( 0.14 ) to $ ( 0.08 ) on a reported basis , or $ 0.15 to $ 0.19 on an adjusted basis , reported net loss of $ ( 70 ) to $ ( 40 ) million , and adjusted EBITDA of $ 195 to $ 220 million . KindredBio acquisition on track to close this month , subject to customary closing conditions . GREENFIELD , Ind . ( August 9 , 2021 ) - Elanco Animal Health Incorporated ( NYSE : ELAN ) today reported financial results for the second quarter of 2021 , provided guidance for the third quarter of 2021 , and raised revenue guidance for the full year 2021. The results reflect the inclusion of the Bayer Animal Health business Elanco acquired on August 1 , 2020 . " Elanco continues to deliver strong results , extending our track record of execution since acquiring Bayer Animal Health a year ago , " said Jeff Simmons , president and chief executive officer at Elanco . " Outperformance on both sides of our business allows us to raise 2021 revenue guidance for the third time , with full year growth exceeding our long - term growth algorithm . We head into the back half of the year with confidence in our ability to drive sustainable double - digit adjusted EBITDA and adjusted EPS growth . We see evidence that our transformation is creating durable , long - term value for our customers , our shareholders , and our global team . " In the second quarter , Elanco's results compared to the company's June 16 , 2021 guidance are as follows : Revenue Reported Net Loss Adjusted EBITDA Reported EPS Adjusted EPS Second Quarter 2021 Results ( dollars in millions , except per share amounts ) June Guidance $ 1,225 $ 1,255 $ ( 300 ) - $ ( 220 ) $ 250 - $ 275 $ ( 0.62 ) - $ ( 0.44 ) $ 0.22 - $ 0.27 1 Actual $ 1,279 $ ( 210 ) $ 291 $ ( 0.43 ) $ 0.28 Comparison to Midpoint $ 39 $ 50 $ 29 $ 0.10 $ 0.04