We study the energies and decay of elementary excitations in weakly interacting Bose-Einstein condensates within a finite-temperature gapless second-order theory. The energy shifts for the high-lying collective modes turn out to be systematically negative compared with the Hartree-Fock-Bogoliubov-Popov approximation and the decay of the low-lying modes is found to exhibit collapse and revival effects. In addition, perturbation theory is used to qualitatively explain the experimentally observed Beliaev decay process of the scissors mode.