Elanco Animal Health Incorporated (ELAN Quick QuoteELAN - Free Report) reported $1.07 billion in revenue for the quarter ended September 2023, representing a year-over-year increase of 3.9%. EPS of $0.18 for the same period compares to $0.20 a year ago.

The reported revenue represents a surprise of +2.89% over the Zacks Consensus Estimate of $1.04 billion. With the consensus EPS estimate being $0.12, the EPS surprise was +50.00%.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

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:

• Revenue- Total Pet Health: $495 million versus the three-analyst average estimate of $481.57 million.
• Revenue- Total Farm Animal: $561 million compared to the $545.78 million average estimate based on three analysts.
• Revenue- Total Contract Manufacturing: $12 million compared to the $8.55 million average estimate based on two analysts.

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

Shares of Elanco Animal Health Incorporated have returned -1.2% over the past month versus the Zacks S&P 500 composite's +1.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.