On August 9th Elanco Animal Health (ELAN) reported on the second quarter of fiscal 2021 ending June 30th.  This quarter includes the consolidation of the Bayer Animal Health acquisition.  For the period, the Company posted a loss of $210 million on revenue of $1,279 million with an EPS of negative $0.43.  Comparative values for Q2 of 2020, prior to the Bayer acquisition were a loss of $53 million on revenue of $586 million with a negative EPS of $0.13.

Livestock products represented 42 percent of revenue with  poultry products comprising 31 percent of the $567 million with the remainder derived from cattle (41 percent), swine (20 percent) and other including aqua (8 percent).

In commenting on results, Jeff Simmons, CEO stated, "Elanco continues to deliver strong results, extending our track record of execution since inquiring Bayer Animal Health a year ago".  He added, "our performance on both sides of our business allows us to raise 2021 revenue guidance the third time with four-year growth exceeding our long-term growth algorithm".  These comments emphasizing growth in revenue are however at variance with the consistent history of substantial losses.  Elanco compares unfavorably with competitor Zoetis.

Guidance for the third quarter includes revenue ranging from $1,075 million to $1,100 million.  The net loss will range from $40 to $70 million.