Elanco Animal Health Reports Second Quarter 2023 Results and Raises Full Year Guidance
Asset impairment, restructuring and other special charges were $35 million in the second quarter of 2023 compared to $86 million in the second quarter of 2022.
- Asset impairment, restructuring and other special charges were $35 million in the second quarter of 2023 compared to $86 million in the second quarter of 2022.
- Other expense was $23 million in the second quarter of 2023, compared with income of $6 million in the second quarter of 2022.
- The adjusted effective tax rate increased to 19.9% in the second quarter of 2023 compared to 13.2% in the second quarter of 2022, primarily driven by the jurisdictional mix of Elanco earnings and certain favorable return to provision adjustments that impacted the second quarter of 2022.
- Adjusted EBITDA was $222 million in the second quarter of 2023, a 27% decrease compared to the second quarter of 2022.