Elanco (ELAN) Jumps 19.7% to Record High on Earnings Boost

We recently published 10 Hot Stocks Making Winning Look Easy. Elanco Animal Health Inc. (NYSE:ELAN) is one of the best-performing stocks on Thursday.

Elanco saw its share prices surge to a new 52-week high on Thursday as investors cheered its strong earnings performance in the second quarter of the year.

During the session, Elanco Animal Health Inc. (NYSE:ELAN) jumped by as high as 19.7 percent to its highest price of $16.7 before ending the day just up by 18.14 percent at $16.48 apiece.

This followed the release of its earnings performance that saw the company swing to a net income of $11 million from a $50 million net loss in the same period last year. Revenues grew by 4.8 percent to $1.24 billion from $1.18 billion in the same comparable period.

In the first half, Elanco Animal Health Inc. (NYSE:ELAN) incurred a net income of $78 million, reversing an $18 million net loss in the same period last year. Revenues also inched up by 2 percent to $2.434 billion from $2.389 billion year-on-year.

For the full-year period, Elanco Animal Health Inc. (NYSE:ELAN) expects to incur a higher net loss of $14 million to $38 million versus the $7 million to $35 million previously.

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Revenue target, however, was increased to $4.57 billion to $4.62 billion, from $4.51 billion to $4.58 billion previously.