Fountain Report Excerpts May 14, 2024

Fountain Report Excerpts
  1. Elanco Animal Health reported first quarter revenue of $1.2 billion, down 4%. Pet health segment revenue of $639 million was down 5%, and farm animal segment revenue of $573 million was down 3%. Reported net income of $32 million was down 69%, reported earnings per share of 6 cents were down 71%, and adjusted EBITDA of $294 million was down 22%. “We delivered estimated revenue growth of 3% to 5% in the first quarter, excluding the impact of the ERP blackout from last year, and exceeded the top end of our guidance range for revenue, adjusted EBITDA and adjusted EPS in the quarter,” said President and CEO Jeff Simmons.
  1. Unum Group, a provider of financial protection benefits in the United States, has launched Unum Pet Insurance for employees. The insurance is usable through any licensed veterinarian and offers 24/7 access to live veterinary professionals via video consultation, discounts on eligible pet prescriptions and coverage for emergency boarding costs if a human in the house is hospitalized for illness or injury. Reimbursement options of 50% and 70% are available. Unum Pet Insurance is provided by Nationwide.
  1. AVMA leaders criticized a report commissioned by the American Association of Veterinary Medical Colleges, maintaining that it overstated the need for more practitioners, the VIN News Service reports. Authors of the March 10 AAVMC-commissioned report, titled “Demand for and Supply of Veterinarians in the U.S. to 2032,” stated that “the supply shortfall can be addressed by reducing veterinarian turnover, improving efficiency, and increasing the supply of graduates.” In a written response, AVMA President Rena Carlson and Chief Executive Janet D. Donlin said, “Candidly, we worry that the analysis substantively underestimates the supply of veterinarians and overestimates demand for them.” Coming under further fire, the AAVMC withdrew the report for a different reason, acknowledging it didn’t respectfully represent the increasing role women are playing in a profession that is predominantly female, the VIN News Service reports.

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