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Elanco Animal Health books 2.8% rise in Q2 profit, tightens 2019 guidance

Elanco Animal Health Inc. said its non-GAAP net income for the second quarter came at 28 cents per share, up year over year from 27 cents.

The S&P Global Market Intelligence consensus normalized EPS estimate for the quarter was 26 cents.

Greenfield, Ind.-based Elanco, which provides animal health products and knowledge services, said its non-GAAP net income totaled $101.6 million, a gain of 2.8% from $98.8 million in the year-earlier period.

Total revenue increased on an annual basis to $781.6 million from $770.2 million.

GAAP net income totaled $35.9 million, or 10 cents per share, compared with a loss of $62.8 million, or a loss of 17 cents per share, in the prior-year period.

Year-to-date through June 30, the company's non-GAAP net income totaled 53 cents per share, a fall from 60 cents per share in the prior-year period.

Non-GAAP net income was $194.5 million, a decline from $219.0 million in the prior-year period.

Year-to-date total revenue amounted to $1.51 billion, comparable to the $1.51 billion also generated in the year-earlier period.

The company's GAAP net income grew 580.8% year over year to $67.4 million, or 18 cents per share, in the year to June 30, from $9.9 million, or 3 cents per share.

In reporting its results, the company said it expects adjusted EPS in the range of $1.04 to $1.10 for the full year, a tightening from previous guidance in the range of $1.02 to $1.12.

The S&P Global Market Intelligence consensus normalized EPS estimate for the full year is $1.09.

The company also expects revenue of $3.00 billion to $3.04 billion for the full year, down from previous guidance of $3.02 billion to $3.08 billion. GAAP EPS for the year is expected to be between 36 cents and 44 cents.