Filing Flows › Elanco Animal Health (ELAN) › Q2 2026
Elanco Animal Health (ELAN) Q2 2026 earnings results (second quarter 2026)
10-Q filed Aug 5, 2026
Elanco Animal Health (ELAN) reported revenue of $1.4B for the second quarter 2026 (Q2 2026), +10% from a year earlier and -0.2% from the quarter before. Operating margin was 4.1%, net earnings $54.0M (3.9% of revenue).
Elanco Animal Health, Q2 2026: revenue $1.4B (+10% year over year), operating margin 4.1%, net earnings $54.0M, operating cash flow $277M. The chart follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.4B | -0.2% | +10% |
| Gross profit | $798M | +2% | +12% |
| Operating profit | $56.0M | -36% | +124% |
| Net earnings | $54.0M | -5% | +391% |
| Operating cash flow | $277M | 21× | +17% |
| Free cash flow | $244M | — | +36% |
What changed
Revenue was $1.4B in Q2 2026, up 10% year over year and roughly flat from the previous quarter. Pet Health was the largest line at 52% of revenue. Pet Health added $0.07B year over year (up 12%), 59% of the total change. Swine declined 3%.
Gross margin was 58.3%, up 0.9 points from Q2 2025. Operating profit was $0.06B, a 4.1% margin (up 2.1 points year over year). Of the extra revenue versus Q2 2025, 24% reached operating profit, above the 2% margin then. Operating expenses grew 8% against revenue growth of 10%. The fastest-growing cost line was SG&A (+12%). Net earnings were $0.05B, up 391% year over year. The effective tax rate was 3.6%.
Operating cash flow was $0.28B (up 17% year over year), 513% of net earnings. Non-cash charges added back $0.17B of depreciation and amortization and $0.02B of share-based compensation. Working capital and other items added $0.03B. Capital expenditures of $0.03B left free cash flow of $0.24B.
Questions
What was Elanco Animal Health's revenue in the second quarter 2026?
Elanco Animal Health (ELAN) reported revenue of $1.4B for the second quarter 2026 (Q2 2026), +10% from a year earlier and -0.2% from the quarter before.
Was Elanco Animal Health profitable in the second quarter 2026?
Operating profit was $56.0M (4.1% of revenue) and net earnings $54.0M.