Filing Flows › Elanco Animal Health (ELAN) › Q3 2026 › vs Q3 2025
Elanco Animal Health (ELAN) Q3 2026 vs Q3 2025 (year over year)
Elanco Animal Health's revenue rose $128M (+11%) from $1.1B in Q3 2025 to $1.3B in Q3 2026. The biggest changes: Pet Health +$75.0M (+14%); Farm Animal: +$38.0M (+6%); Contract Manufacturing +$15.0M (+136%). Gross margin 56.9% against 53.4% (+3.5 pts).
Elanco Animal Health, Q3 2026: revenue $1.3B (+11% year over year), operating margin 1.9%, net earnings $18.0M, operating cash flow $216M. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Gross margin | 56.9% | 53.4% | +3.5 pts |
| Operating margin | 1.9% | -4.4% | +6.3 pts |
| Net margin | 1.4% | -3.0% | +4.4 pts |
| Free cash flow margin | 12.3% | 11.2% | +1.2 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Cattle | $339M | $289M | $50.0M | +17% |
| Poultry | $201M | $217M | −$16.0M | -7% |
| Swine | $91.0M | $87.0M | $4.0M | +5% |
| Farm Animal: | $631M | $593M | $38.0M | +6% |
| Pet Health | $608M | $533M | $75.0M | +14% |
| Contract Manufacturing | $26.0M | $11.0M | $15.0M | +136% |
| Revenue | $1.3B | $1.1B | $128M | +11% |
| Gross profit | $720M | $607M | $113M | +19% |
| Cost of revenue | $545M | $530M | $15.0M | +3% |
| Operating profit | $24.0M | −$50.0M | $74.0M | — |
| Operating expenses | $696M | $657M | $39.0M | +6% |
| Pre-tax earnings | $24.0M | −$50.0M | $74.0M | — |
| Research & development | $99.0M | $89.0M | $10.0M | +11% |
| SG&A | $393M | $351M | $42.0M | +12% |
| Other operating costs | $204M | $217M | −$13.0M | -6% |
| Net earnings | $18.0M | −$34.0M | $52.0M | — |
| Income tax | $6.0M | −$16.0M | $22.0M | — |
| Depreciation & amortization | $177M | $176M | $1.0M | +0.6% |
| Share-based compensation | $20.0M | $17.0M | $3.0M | +18% |
| Working capital & other | $1.0M | $60.0M | −$59.0M | -98% |
| Operating cash flow | $216M | $219M | −$3.0M | -1% |
| Free cash flow (OCF − capex) | $156M | $127M | $29.0M | +23% |
| Capital expenditures | $60.0M | $92.0M | −$32.0M | -35% |
Questions
How much did Elanco Animal Health's revenue grow year over year in Q3 2026?
Elanco Animal Health's revenue rose $128M (+11%) from $1.1B in Q3 2025 to $1.3B in Q3 2026.
What drove Elanco Animal Health's revenue change in Q3 2026?
Pet Health +$75.0M (+14%); Farm Animal: +$38.0M (+6%); Contract Manufacturing +$15.0M (+136%).