Elanco Posts $1.144B Q4 Revenue and Raises Innovation Target to $1.15B
Elanco posted Q4 revenue of $1.144B (+12% reported/9% organic CC) with $189M adjusted EBITDA and $0.13 adjusted EPS. Full-year sales rose 6% to $4.715B with $901M adjusted EBITDA, and 2026 guidance targets $4.95B-$5.02B revenue (+4%-6%), $955M-$985M EBITDA (+8%) and $1.00-$1.06 EPS (+10%).
1. Fourth Quarter 2025 Results
Elanco generated $1.144 billion in Q4 revenue, up 12% reported and 9% on an organic constant currency basis, with adjusted EBITDA of $189 million (16.7% margin) and adjusted EPS of $0.13, alongside a reported net loss of $276 million.
2. Full-Year 2025 Performance and Innovation
Full-year 2025 revenue reached $4.715 billion, a 6% reported increase and 7% organic constant currency growth, delivering $901 million in adjusted EBITDA (19.2% margin) and $0.94 adjusted EPS. The company exceeded its $892 million innovation revenue target, launching all six blockbuster potential products including Befrena.
3. 2026 Guidance and Financial Targets
Elanco raised its innovation revenue outlook to $1.15 billion for 2026 and forecast revenue of $4.95 billion to $5.02 billion (4%-6% organic growth), $955 million to $985 million in adjusted EBITDA (8% midpoint growth), adjusted EPS of $1.00 to $1.06, and a year-end net leverage ratio of 3.1x-3.3x.