Elanco Animal Health Incorporated (NYSE:ELAN) Q1 2022 Earnings Conference Call May 9, 2022 8:00 AM ET

Company Participants

Katy Grissom - Head of IR

Jeffrey Simmons - CEO

Todd Young - CFO

Conference Call Participants

Erin Wright - Morgan Stanley

Michael Ryskin - BofA Securities Merrill Lynch

Nathan Rich - Goldman Sachs

Chris Scott - JPMorgan

Umer Raffat - Evercore ISI

Michael Parolari - Raymond James

Jonathan Block - Stifel

Balaji Prasad - Barclays

Steve Scala - Cowen

Christine Raines - William Blair

Operator

Good morning. My name is Rob, and I will be your conference operator today. At this time, I'd like to welcome everyone to the Elanco Animal Health's First Quarter 2022 Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speaker’s remarks, there will be a question-and-answer session. [Operator Instructions]. Thank you.

Katy Grissom, Head of Investor Relations, you may begin your conference.

Katy Grissom

Good morning. Thank you for joining us for Elanco Animal Health's First Quarter 2022 Earnings Call. I'm Katy Grissom, Head of Investor Relations. Joining me on today's call are Jeff Simmons, our President and Chief Executive Officer; Todd Young, our Chief Financial Officer; and Scott Purucker from Investor Relations.

The slides referenced during this call are available on the Investor Relations section of elanco.com. Today's discussion will include forward-looking statements. These statements are based on our current assumptions and expectations and are subject to risks and uncertainties that could cause actual results to differ materially from our forecast. For more information, see the Risk Factors section discussed in today's earnings press release, as well as our latest Form 10-K and 10-Q filed with the SEC.

We do not undertake any duty to update any forward-looking statement. Our remarks today will focus on non-GAAP financial measures. Reconciliations of these non-GAAP measures are included in the appendix of today's slides and in the earnings press release. After our prepared remarks, we'll be happy to take your questions.

I'll now turn the call over to Jeff.

Jeffrey Simmons

Thanks, Katy. Good morning, everyone. Elanco is off to a strong start in 2022 as we continue building, delivering and strengthening our company. The first quarter marked another consistent quarter of delivery with our key three metrics: revenue, adjusted EBITDA and adjusted earnings per share all exceeding the midpoint of our guidance.

We remain well positioned as a leader in the durable animal health industry and have taken important actions to streamline our organization for continued delivery, even in an increasingly challenging environment. Since our last earnings call, several macro dynamics have intensified from the strengthening U.S. dollar and continued cost inflation to emerging situations with the war in the Ukraine and COVID protective measures in China.