Elanco Animal Health Incorporated (ELAN Quick QuoteELAN - Free Report) reported $1.06 billion in revenue for the quarter ended June 2023, representing a year-over-year decline of 10.2%. EPS of $0.18 for the same period compares to $0.36 a year ago.

The reported revenue represents a surprise of +2.03% over the Zacks Consensus Estimate of $1.04 billion. With the consensus EPS estimate being $0.05, the EPS surprise was +260.00%.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how Elanco Animal Health Incorporated performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

• Revenues- Total Pet Health: $518 million versus the three-analyst average estimate of $525.39 million.
• Revenues- Total Farm Animal: $527 million versus $502.55 million estimated by three analysts on average.
• Revenues- Total Contract Manufacturing: $12 million versus the two-analyst average estimate of $8.55 million.

View all Key Company Metrics for Elanco Animal Health Incorporated here>>>

Shares of Elanco Animal Health Incorporated have returned +16% over the past month versus the Zacks S&P 500 composite's +0.6% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.