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Elanco Animal Health (ELAN) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 6, 2026 · Elanco Animal Health (ELAN) Q3 2026 earnings results →
Q3 2026 Revenue up 11% year over year to $1.3B · 1¢ of every $1 of revenue kept as net profit · operating margin 1.9%
Elanco Animal Health made $1.3B in Q3 2026 (+11% Y/Y): Farm Animal: $631M, Pet Health $608M, Contract Manufacturing $26.0M. Operating margin 1.9%, net earnings $18.0M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 6, 2026.
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What changed this quarter
Revenue was $1.3B in Q3 2026, up 11% year over year and down 8% from the previous quarter. Pet Health was the largest line at 48% of revenue. Pet Health added $0.07B year over year (up 14%), 59% of the total change. Poultry declined 7%.
Gross margin was 56.9%, up 3.5 points from Q3 2025. Operating profit was $0.02B, a 1.9% margin (up 6.3 points year over year). Operating expenses grew 6% against revenue growth of 11%. The fastest-growing cost line was SG&A (+12%). Net earnings were $0.02B. The effective tax rate was 25.0%.
Operating cash flow was $0.22B (down 1% year over year), 1200% of net earnings. Non-cash charges added back $0.18B of depreciation and amortization and $0.02B of share-based compensation. Capital expenditures of $0.06B left free cash flow of $0.16B.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 6, 2026 | $1.3B | +11% | 1.9% | $18.0M | $216M |
| Q2 2026 | 10-Q | Aug 5, 2026 | $1.4B | +10% | 4.1% | $54.0M | $277M |
| Q1 2026 | 10-Q | May 6, 2026 | $1.4B | +15% | 6.3% | $57.0M | $13.0M |
| Q4 2025 | 10-K | Feb 24, 2026 | $1.1B | +12% | -22.6% | −$276M | $108M |
| Q3 2025 | 10-Q | Nov 5, 2025 | $1.1B | +10% | -4.4% | −$34.0M | $219M |
| Q2 2025 | 10-Q | Aug 7, 2025 | $1.2B | +5% | 2.0% | $11.0M | $237M |
| Q1 2025 | 10-Q | May 7, 2025 | $1.2B | -1% | 5.0% | $67.0M | −$4.0M |
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Customers and suppliers named in filings
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About Elanco Animal Health
Elanco Animal Health Incorporated and its subsidiaries (collectively, Elanco, the Company, we, us, or our) is a global leader in animal health, dedicated to innovating and delivering products and services to prevent and treat disease in farm animals and pets. We partner with farmers, pet owners, veterinarians and society to create value and help our customers improve the health of animals in their care, while also making a meaningful impact on the communities we serve. Our diverse, durable product portfolio is sold in more than 90 countries and serves animals across many species, primarily: dogs and cats (collectively, pet health) and cattle, poultry, swine and sheep (collectively, farm animal). Our purpose – making life better for animals makes life better – inspires us to Go Beyond for animals, our customers, our people and society.
In its own words, from its 10-K, filed Feb 24, 2026.
Elanco Animal Health against its Pharmaceutical Preparations peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +11% against the peers' median +10%. Operating margin: 1.9% against the peers' median 20.4%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| ELAN Elanco Animal Health | Q3 2026 | $1.3B | +11% | 1.9% |
| JNJ Johnson & Johnson | Q3 2026 | $25.4B | +6% | 0.1% |
| LLY ELI Lilly | Q3 2026 | $24.4B | +39% | 34.5% |
| MRK Merck | Q3 2026 | $18.1B | +5% | 30.7% |
| ABBV AbbVie | Q3 2026 | $17.4B | +10% | 36.0% |
| PFE Pfizer | Q3 2026 | $16.6B | -0.4% | 20.4% |
| BMY Bristol Myers Squibb | Q3 2026 | $13.1B | +7% | 19.4% |
| ABT Abbott Laboratories | Q3 2026 | $13.0B | +14% | 10.4% |
| REGN Regeneron Pharmaceuticals | Q3 2026 | $5.1B | +36% | 40.0% |
Source: Elanco Animal Health 10-Q on SEC EDGAR · CIK 1739104 · Pharmaceutical Preparations
Guidance and outlook
13F: who owns ELAN and who is buying
More on ELAN
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results
- Elanco Animal Health guidance history: guided vs reported
- Elanco Animal Health gross margin by quarter
- Elanco Animal Health operating margin by quarter
- Elanco Animal Health net income by quarter
- Elanco Animal Health free cash flow by quarter
- Elanco Animal Health R&D spending by quarter
- Elanco Animal Health capital expenditures by quarter
- Elanco Animal Health Farm Animal: revenue by quarter
- Elanco Animal Health Pet Health revenue by quarter
- Elanco Animal Health Contract Manufacturing revenue by quarter