Elanco Animal Health Inc
For the period ended Sep 30, 2025. Filed Nov 5, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Nov 5, 2025
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Item 2. RESULTS OF OPERATIONS
Results of Operations
The following discussion and analysis of our results of operations should be read along with our condensed consolidated financial statements and the notes thereto. Our results of operations for the periods presented below may not be comparable with prior periods or with our results of operations in the future due to many factors, including but not limited to the factors identified above.
| Three Months Ended September 30, | Nine Months Ended September 30, | |||||
|---|---|---|---|---|---|---|
| (Dollars in millions) | 2025 | 2024 | % Change | 2025 | 2024 | % Change |
| Revenue | $1,137 | $1,030 | 10% | $3,571 | $3,419 | 4% |
| Cost of sales | 530 | 492 | 8% | 1,567 | 1,502 | 4% |
| Gross profit | 607 | 538 | 13% | 2,004 | 1,917 | 5% |
| Research and development | 89 | 87 | 2% | 275 | 263 | 5% |
| Marketing, selling and administrative | 351 | 323 | 9% | 1,092 | 1,014 | 8% |
| Amortization of intangible assets | 140 | 133 | 5% | 404 | 397 | 2% |
| Asset impairment, restructuring and other special charges | 25 | 17 | 47% | 35 | 143 | (76)% |
| Gain on divestiture | — | (640) | NM | — | (640) | NM |
| Interest expense, net of capitalized interest | 52 | 58 | (10)% | 140 | 189 | (26)% |
| Other expense, net | — | 1 | NM | 23 | 12 | 92% |
| (Loss) income before income taxes | (50) | 559 | NM | 35 | 539 | (94)% |
| Income tax (benefit) expense | (16) | 195 | NM | (9) | 193 | NM |
| Net (loss) income | $(34) | $364 | NM | $44 | $346 | (87)% |
Certain amounts and percentages may reflect rounding adjustments.
NM - Not meaningful
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