Loading...
•
Nov 30, 2022
Neogen Q2 2023 Earnings Report
Neogen's Q2 2023 performance was marked by a 76.2% increase in revenue, driven by the integration of the 3M Food Safety Division, although net income was negatively impacted by transaction costs and related expenses.
Key Takeaways
Neogen reported a 76.2% increase in revenue to $230.0 million for Q2 2023, driven by the acquisition of the 3M Food Safety Division. However, the company experienced a net loss of $(41.8) million, or $(0.19) per share, due to transaction and integration costs. Adjusted Net Income was $31.4 million, or $0.15 per share.
Revenue increased by 76.2% to $230.0 million compared to the prior-year quarter.
Net loss was $(41.8) million, or $(0.19) per share, due to merger-related costs.
Adjusted Net Income reached $31.4 million, or $0.15 per share.
Adjusted EBITDA was $64.1 million, with a margin of 27.8%.
Revenue by Segment
Forward Guidance
Certain portions of this news release that do not relate to historical financial information constitute forward-looking statements. These forward-looking statements are subject to certain risks and uncertainties. Actual future results and trends may differ materially from historical results or those expected depending on a variety of factors listed in Management’s Discussion and Analysis of Financial Condition and Results of Operations in the company’s most recently filed Form 10-K.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...