Elanco Animal Health Incorporated (NYSE:ELAN) Q1 2024 Earnings Conference Call May 8, 2024 8:00 AM ET

Company Participants

Jeff Simmons - President, Chief Executive Officer
Todd Young - Executive Vice President, Chief Financial Officer
Katy Grissom - Head of Investor Relations

Conference Call Participants

Jon Block - Stifel
Erin Wright - Morgan Stanley
Michael Ryskin - Bank of America
Mike DiFiore - Evercore ISI
Ekaterina Knyazkova - JP Morgan
Brandon Vazquez - William Blair
Nathan Rich - Goldman Sachs
David Westenberg - Piper Sandler
Chris - TD Cowen
Neven Tai - BNP Paribas
Balaji Prasad - Barclays

Operator

Ladies and gentlemen, thank you for standing by. Welcome everyone to the Elanco Animal Health first quarter 2024 earnings conference call.

At this time, all lines have been placed on mute to prevent any background noise. After the speakers’ remarks, there will be a question and answer session. If you would like to ask a question during this time, simply press star followed by the number one on your telephone keypad. If you’d like to withdraw your question, please press the star followed by one once again. Thank you.

I would now like to hand the call over to 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 2024 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 discussed in today’s earnings press release as well as the 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 our 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.

Jeff Simmons

Thanks Katy. Good morning everyone.

Elanco is poised for a very exciting 2024. Our strong business momentum continued in the first quarter, reinforced by the diversity of our portfolio and geographic results. In the quarter, we exceeded the top end of our guidance range on our key metrics: revenue, adjusted EBITDA, adjusted EPS. We are encouraged by the strong progress of our late stage pipeline, which has advanced significantly over the last several months. The One Elanco approach to collaboration and decision making is driving positive and productive outcomes across the world. Energy, resiliency and creativity are filling our halls and permeating our conversations with customers. Our focus for the year remains on growth, innovation and cash, with many proof points to start the year.