PR Newswire
Raises Full Year Revenue and Maintains Adjusted EBITDA Guidance Excluding Aqua Divestiture
Second Quarter 2024 Financial ResultsRevenue of $1,184 millionReported Net Loss of $50 million, Adjusted Net Income of $147 millionAdjusted EBITDA of $275 million, or 23.2% of RevenueReported EPS of $(0.10), Adjusted EPS of $0.30 Net leverage ratio of 5.6x Adjusted EBITDAYear over year growth rates are meaningfully impacted by a shift in customer purchasing related to the ERP Blackout in 2023, with an estimated $90 to $110 million of revenue shift from the second quarter of 2023 into the first quarter of 2023Updating full year 2024 financial guidance to reflect aqua divestiture and expected contribution from Bovaer and Zenrelia:Revenue of $4,410 to $4,460 million, with organic constant currency growth raised to 3% to 4%Reported Net Income of $314 to $352 million; Reported EPS of $0.63 to $0.71Adjusted EBITDA of $900 to $940 million; Adjusted EPS of $0.88 to $0.96 Completed sale of aqua business in July, resulting in $1.2 billion of debt paydown in the third quarter of 2024Zenrelia, a JAK inhibitor targeting control of pruritus and atopic dermatitis in dogs, has been submitted to the FDA, initiating the final 60-day administrative review period with approval expected in late SeptemberThe information provided here is not subject to any editorial processing. It is prepared fully automatically and enriched with additional information and further research options. The aim of the content is to provide information seekers with the relevant information quickly and easily. A link back to the information provider and owner ensures that the data prepared here can be compared with the source information if required. The newsboard does not show information in real time. Please contact the exchange operator for this information if required. There is no claim to completeness. High availability cannot be guaranteed. If you notice any errors in the functionality, please let us know using the "Report a Bug" form below.
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