Elanco Animal Health (ELAN) Q3 Earnings Preview: What You Should Know Beyond the Headline Estimates

The upcoming report from Elanco Animal Health Incorporated (ELAN) is expected to reveal quarterly earnings of $0.12 per share, indicating a decline of 33.3% compared to the year-ago period. Analysts forecast revenues of $1.03 billion, representing a decrease of 3.2% year over year.Over the last 30 days, there has been an upward revision of 1% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.With that in mind, let's delve into the average projections of some Elanco Animal Health metrics that are commonly tracked and projected by analysts on Wall Street.The combined assessment of analysts suggests that 'Revenue- Total Pet Health' will likely reach $490.64 million. The estimate indicates a change of -0.9% from the prior-year quarter.The consensus estimate for 'Revenue- Total Contract Manufacturing' stands at $10.47 million. The estimate indicates a change of -12.7% from the prior-year quarter.The collective assessment of analysts points to an estimated 'Revenue- Total Farm Animal' of $533.43 million. The estimate indicates a change of -4.9% from the prior-year quarter.View all Key Company Metrics for Elanco Animal Health here>>>Over the past month, Elanco Animal Health shares have recorded returns of -14.1% versus the Zacks S&P 500 composite's +0.4% change. Based on its Zacks Rank #3 (Hold), ELAN will likely exhibit a performance that aligns with the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Research Chief Names "Single Best Pick to Double"From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Elanco Animal Health Incorporated (ELAN): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks