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Reported August 5, 2026 · Before market open

Revenue$1.4BBeat by $55.5M
EPS$0.34Beat by $0.07
Revenue estimate$1.3B
EPS estimate$0.27
Elanco's second quarter results demonstrate our momentum and leadership in the attractive animal health industry. Organic constant currency revenue growth of 8% was led by U.S. Pet Health and U.S. Farm Animal each up 11%. We saw strong contributions from both price and volume, as consumer demand for our basket of innovation drove market share gains and stabilized our base business. Zenrelia — our newest blockbuster — was the single largest contributor to global Elanco growth, closely followed by Credelio Quattro. As we are raising our top-and bottom-line full-year outlook, including faster than planned margin expansion and net debt deleverage, our consistent delivery demonstrates our Innovation Portfolio Productivity (IPP) strategy is working. We also continue to expect a sustainable mid-single digit CAGR in animal health through the global drivers that matter most in pets and protein. Elanco is well positioned through our differentiated innovation, our comprehensive portfolio, our diverse go-to-market model, and our commercial execution, creating durable value for our customers, our shareholders, and the industry.
Jeff Simmons

Next report

Nov 4, 2026 (in 2 months)
Revenue estimate$1.2B
EPS estimate$0.20

Financials

Q2 2026

Income statement

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Revenue$1.4B+10.2%
Gross profit$798.0M+11.9%
Net income$54.0M+391%
EPS (diluted)$0.11+450%

Balance sheet

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Cash & equivalents$530.0M-1.7%
Total debt$4.2B-6.2%
Total equity$6.6B-2.8%
Total assets$13.6B-1.3%

Cash flow

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Operating cash flow$277.0M+16.9%
CapEx$33.0M-42.1%
Free cash flow$244.0M+35.6%

Valuation & ratios

Valuation

as of 08/27/26
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Market cap$12.53B+36.4%
Enterprise value$16.25B+23.3%
P/S2.5×+0.4×

Profitability

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Gross margin55.4%+0.6pp
Net margin-4%-13.8pp
FCF margin7.5%-0.5pp

Returns & leverage

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Return on equity-3%-9.9pp
Debt / equity0.6×0.0×
Current ratio2.1×-0.5×

Segments

By product

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Pet Health$718.0M+11.7%
Cattle$313.0M+16.8%
Poultry$223.0M+3.7%
Swine$97.0M-3.0%
Contract Manufacturing$17.0M+13.3%

By segment

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Reportable Segment$1.4B+10.2%

FAQ

When did Elanco Animal Health Inc. report Q2 2026 earnings?
Elanco Animal Health Inc. (ELAN) reported Q2 2026 earnings on August 5, 2026 before market open.
What were Elanco Animal Health Inc.'s Q2 2026 revenue and EPS?
Elanco Animal Health Inc. reported revenue of $1.4B and eps of $0.34 for Q2 2026.
Did Elanco Animal Health Inc. beat estimates in Q2 2026?
Revenue beat the consensus estimate of $1.3B by $55.5M. EPS beat the consensus estimate of $0.27 by $0.07.
How did Elanco Animal Health Inc.'s Q2 2026 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 10.2% from $1.2B a year earlier and eps grew 30.8% from $0.26.
Where can I find Elanco Animal Health Inc.'s Q2 2026 SEC filings?
You can read the 8-K earnings release (0001739104-26-000040) and the 10-Q periodic report (0001739104-26-000043) directly on SEC EDGAR. The filing index links above go to sec.gov.