Every material Form 8-K Elanco has filed with the SEC since August 13, 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Elanco Animal Health Inc reported third quarter 2026 revenue of $1.265 billion, representing an 11% increase year-over-year, and net income of $18 million. Driven by strong demand and gross margin expansion, the company raised its full-year 2026 guidance for revenue, adjusted EBITDA, and adjusted earnings per share.
Third quarter revenue reached $1.265 billion, up 11% reported and 9% organic constant currency.
Reported net income was $18 million, while adjusted EPS was $0.27.
Full year 2026 revenue guidance was raised to $5.155 billion to $5.18 billion.
Net leverage ratio improved to 2.9x Adjusted EBITDA at the end of the third quarter.
Elanco reported second quarter 2026 revenue of $1.37 billion, up 10% from a year earlier, and reported net income of $54 million, or $0.11 per diluted share, compared with $11 million a year earlier. The company raised its full-year 2026 guidance for revenue, adjusted EBITDA and adjusted EPS, and also gave third-quarter guidance. Shareholders get higher expected full-year results, though the third-quarter revenue and EPS ranges are lower than the second quarter's reported figures.
Q2 2026 revenue of $1,368 million, up 10% reported and 8% organic constant currency; adjusted EPS of $0.34, up 31%
Full-year 2026 guidance raised: revenue $5.09 billion to $5.14 billion, adjusted EBITDA $1.01 billion to $1.035 billion, adjusted EPS $1.10 to $1.16
Third-quarter 2026 guidance: revenue $1,195 million to $1,220 million, adjusted EBITDA $200 million to $215 million, adjusted EPS $0.19 to $0.22
Year-end net leverage ratio target improved to approximately 3.0x adjusted EBITDA; the June 30 ratio was 3.1x
Elanco reported first-quarter 2026 revenue of $1,371 million, up 15% from a year earlier, and adjusted EPS of $0.40, up 8%. The company raised its full-year 2026 guidance for revenue, adjusted EBITDA and adjusted EPS, which matters to shareholders because it signals stronger expected results for the year, though reported net income fell 15% to $57 million.
Q1 2026 revenue was $1,371 million, up 15% reported and 10% organic constant currency; reported net income was $57 million, down from $67 million
Full-year 2026 revenue guidance raised to $5,010 million to $5,085 million from $4,950 million to $5,020 million
Full-year adjusted EBITDA guidance raised to $975 million to $1,005 million; adjusted EPS guidance raised to $1.03 to $1.09 from $1.00 to $1.06
Second-quarter 2026 guidance: revenue of $1,300 million to $1,325 million and adjusted EPS of $0.25 to $0.28
Elanco reported fourth-quarter 2025 revenue of $1,144 million, up 12%, and a reported net loss of $276 million, which included $202 million of asset impairment, restructuring and other special charges. For full year 2025, revenue rose 6% to $4,715 million, but the company posted a reported net loss of $232 million, compared with net income of $338 million in 2024; adjusted EPS rose to $0.94 from $0.91. The company also guided 2026 revenue to $4,950 million to $5,020 million and adjusted EPS to $1.00 to $1.06.
Q4 2025 revenue $1,144 million, up 12% reported and 9% organic constant currency; adjusted EPS $0.13 vs. $0.14 a year earlier
Full year 2025 reported EPS $(0.47) vs. $0.68 in 2024; adjusted EPS $0.94 vs. $0.91
2026 guidance: revenue $4,950 million to $5,020 million; adjusted EBITDA $955 million to $985 million; adjusted EPS $1.00 to $1.06
2026 innovation revenue target raised to $1.15 billion; net leverage ratio ended 2025 at 3.6x
Elanco's board authorized a workforce restructuring plan on December 5, 2025, which is expected to eliminate about 300 positions and cost about $175 million in pretax charges, mostly in 2025. The company reaffirmed its fourth-quarter and full-year 2025 revenue and adjusted earnings guidance, but said its reported net loss and loss per share will reflect the charges, and it outlined a three-year financial outlook at its December 9 Investor Day.
Plan covers about 300 eliminated positions and about 300 roles shifted to growth areas or lower-cost locations.
Expected pretax charges total about $175 million: about $130 million cash-based, mostly paid over the next 2 years, and about $45 million non-cash asset impairments.
Impairments relate to closing the Kansas City, Missouri implant facility and exiting part of the Monheim, Germany facility.
Expected savings of about $25 million in 2026 and about $60 million in 2027; full-year 2025 revenue and adjusted earnings guidance reaffirmed.
Elanco reported third-quarter 2025 revenue of $1,137 million, up 10% from a year earlier, and raised its full-year 2025 revenue and adjusted EBITDA guidance. The company posted a reported net loss of $34 million, compared with net income of $364 million a year earlier that included a gain on the aqua divestiture, though adjusted EPS rose 46% to $0.19. For shareholders, the higher operating outlook points to stronger sales momentum, while the reported net loss guidance was also widened.
Q3 2025 revenue was $1,137 million, up 10% reported and 9% organic constant currency.
Reported net loss was $34 million, or $(0.07) per share, versus net income of $364 million a year earlier; adjusted EPS was $0.19, up 46%.
Full-year revenue guidance was raised to $4,645 million to $4,670 million from $4,570 million to $4,620 million; adjusted EBITDA guidance rose to $880 million to $900 million from $850 million to $890 million.
Full-year reported net loss guidance widened to $(56) million to $(41) million from $(38) million to $(14) million.
On October 31, 2025, Elanco entered into Amendment No. 3 to its credit agreement, raising new term loans totaling about $2.04 billion in U.S. dollar, euro and farm credit tranches to repay its term loan B due 2027. The filing describes the refinancing and the new debt's maturities, but does not report changes to earnings, guidance, or the company's total debt level.
Amendment No. 3 dated October 31, 2025 covers new U.S. dollar term loans of $1,100,000,000 maturing October 31, 2032
New euro-denominated term loans of €400,000,000 mature April 30, 2029; new farm credit term loans of $540,000,000 mature October 31, 2032
Proceeds plus cash on hand were used to refinance all outstanding borrowings under the term loan B facility due 2027 and pay fees
Elanco reported second-quarter 2025 revenue of $1,241 million, up 5% from a year earlier, and reported net income of $11 million compared with a net loss of $50 million in the same quarter of 2024. The company raised its full-year 2025 revenue guidance to $4,570 million to $4,620 million and its adjusted EBITDA guidance to $850 million to $890 million, but adjusted EPS of $0.26 fell 13% year over year.
Q2 2025 revenue was $1,241 million, up 5% on a reported basis and 8% on an organic constant currency basis
Reported net income was $11 million ($0.02 per diluted share) versus a net loss of $50 million ($0.10 per share) in Q2 2024; adjusted EPS was $0.26, down 13%
Full-year 2025 adjusted EPS guidance was raised to $0.85 to $0.91 from $0.80 to $0.86, and reported net loss guidance is $(38) million to $(14) million
Net leverage ratio was 4.0x adjusted EBITDA at June 30, 2025; the year-end target was improved to 3.8x to 4.1x
Elanco Animal Health entered a First Amendment to its receivables loan agreement with Rabobank as administrative agent on June 25, 2025. The amendment extends the facility's term from August 3, 2026 to June 26, 2028 and makes other covenant and term changes, with no dollar amounts disclosed in the filing. The extension pushes out the maturity of this accounts receivable financing arrangement by nearly two years.
Agreement signed June 25, 2025 with Coöperatieve Rabobank U.A., New York Branch, as administrative agent
Facility term extended from August 3, 2026 to June 26, 2028
Other covenants and terms also amended; the filing does not quantify these changes or the facility size
Elanco Animal Health appointed Robert (Bob) VanHimbergen as Executive Vice President and Chief Financial Officer, effective July 7, 2025, succeeding Todd Young, who stays on as an advisor through August 31, 2025. The company also reconfirmed its second quarter and full year guidance issued on May 7, 2025.
VanHimbergen, age 49, is currently CFO of Hillenbrand, Inc. and previously spent about 15 years at Johnson Controls International plc.
Initial pay includes a $660,000 base salary, a target annual cash incentive of 75% of base salary, and target long-term incentive compensation of $2,645,000.
Make-whole awards include a $890,000 cash bonus subject to partial repayment if he leaves within three years, and restricted stock units with a grant fair value of $1,735,000.
Young's transition terms include continued pay for his advisory role and accelerated vesting of a pro-rata portion of his unvested awards.
Elanco reported first-quarter 2025 revenue of $1,193 million, down 1% from a year earlier, while adjusted EPS rose 9% to $0.37. The company raised its full-year 2025 revenue guidance to $4,510 million to $4,580 million, but its reported net loss guidance widened to $(35) million to $(7) million, and adjusted EBITDA fell 6% in the quarter.
Q1 2025 revenue was $1,193 million, down 1% reported and up 4% organic constant currency
Adjusted EBITDA was $276 million, down 6%; reported net income rose to $67 million from $32 million
Full-year 2025 revenue guidance raised to $4,510 million to $4,580 million; adjusted EBITDA ($830 million to $870 million) and adjusted EPS ($0.80 to $0.86) maintained
Reported net loss guidance is now $(35) million to $(7) million, versus $(25) million to $7 million in February
Elanco announced board changes that will reduce the Board to 11 directors by the 2025 Annual Meeting, including the resignation of William F. Doyle, effective immediately. Doyle's resignation is tied to a research agreement signed March 16, 2025 between a subsidiary and WEDterinary LLC, in which Doyle owns 33% of the equity. Shareholders should note the related-party nature of the deal, which the filing says the Audit Committee approved before signing.
Three directors, John P. (JP) Bilbrey, Kathy Turner and Craig Wallace, will not stand for re-election at the 2025 Annual Meeting of Shareholders.
William F. Doyle resigned from the Board effective immediately; the filing says the resignation is not due to a disagreement with the Company.
Elanco US Inc. will pay up to $4 million to fund WEDterinary research, funded within Elanco's R&D operating expenses.
The Audit Committee approved the transaction before execution under the Company's related person transaction policy.
Elanco reported fourth-quarter 2024 revenue of $1,020 million, down 1% on a reported basis, and a reported net loss of $8 million, narrower than the $141 million loss a year earlier. For 2025, it guided to adjusted EBITDA of $830 million to $870 million and adjusted EPS of $0.80 to $0.86, both below 2024 levels of $910 million and $0.91, citing about $45 million of foreign exchange headwind to adjusted EBITDA.
Q4 2024 revenue $1,020 million, down 1% reported and up 4% organic constant currency; Q4 adjusted EPS $0.14 vs. $0.08 a year earlier
Full-year 2024 reported net income $338 million vs. a $1,231 million loss in 2023; full-year revenue $4,439 million, flat reported
2025 guidance: revenue $4,445 million to $4,510 million, reported net (loss) income $(25) million to $7 million, adjusted EBITDA $830 million to $870 million
2025 guidance reflects about $110 million revenue and $45 million adjusted EBITDA foreign exchange headwinds; innovation revenue target raised to $640 million to $720 million
Elanco Animal Health appointed Dr. Stacey Ma, currently Executive Vice President of Pharmaceutical Development and Manufacturing at Gilead Sciences, to its Board of Directors effective immediately. The filing says the board was expanded from 14 to 15 members to accommodate the appointment. The change is governance-related and the filing reports no financial results or guidance.
Board appointment effective immediately; Dr. Ma named to Class III with a term expiring in 2027
Board size increased from 14 to 15 members
Dr. Ma also appointed to the Innovation, Science and Technology Committee
Announced in a press release dated November 12, 2024; board appointment made November 11, 2024
Elanco reported third-quarter 2024 revenue of $1,030 million, down 4% on a reported basis and up 1% organic constant currency, and adjusted EPS of $0.13 versus $0.18 a year earlier. Reported net income of $364 million was driven by a $640 million pre-tax gain on the July 2024 sale of its aqua business, but the company's adjusted results declined. It also narrowed its full-year 2024 guidance, lowering the top end of its adjusted EBITDA range and reported EPS range.
Q3 adjusted EBITDA was $163 million, down 24%, and adjusted EBITDA margin was 15.8% versus 20.0% a year earlier.
Full-year 2024 revenue guidance was narrowed to $4,420 million to $4,450 million from $4,410 million to $4,460 million.
Full-year adjusted EBITDA guidance was lowered to $900 million to $930 million from $900 million to $940 million; reported EPS guidance was cut to $0.58 to $0.64 from $0.63 to $0.71.
Fourth-quarter 2024 revenue is expected between $1.00 billion and $1.03 billion, and the company expects to provide detailed 2025 guidance in February 2025.
Elanco Animal Health entered an incremental assumption agreement under its existing senior secured credit facility, adding a new $350 million term loan. Proceeds will repay outstanding obligations under an existing term loan and fund general corporate purposes. The filing says the new facility's interest rate and repayment terms are generally consistent with the existing term loan.
New incremental term facility totals $350,000,000 under the Credit Agreement dated August 1, 2020
Proceeds will repay outstanding obligations under an existing term loan and for general corporate purposes
Facility matures on August 13, 2031; terms generally consistent with the existing term loan
Lenders include Farm Credit Mid-America, PCA as incremental term lender and Goldman Sachs Bank USA as term facility agent
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