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Feb 29, 2024
Neogen Q3 2024 Earnings Report
Neogen's Q3 2024 results were announced, revealing a revenue increase but a net loss, alongside progress in integrating the former 3M Food Safety business.
Key Takeaways
Neogen reported a 4.8% increase in revenue to $228.8 million for the third quarter of fiscal year 2024, but experienced a net loss of $(2.0) million, or $(0.01) per diluted share. Adjusted Net Income was $26.4 million, or $0.12 per diluted share. The company is updating its full-year outlook due to slower-than-anticipated recovery of order fulfillment rates.
Revenue increased by 4.8% to $228.8 million.
Net loss was $(2.0) million, or $(0.01) per diluted share.
Adjusted Net Income was $26.4 million, or $0.12 per diluted share.
Full-year outlook is being updated to reflect slower order fulfillment rates.
Neogen
Neogen
Neogen Revenue by Segment
Revenue by Segment
Food Safety Revenue
CapyFin.comAnimal Safety Revenue
CapyFin.com Forward Guidance
The company is updating its full-year outlook to reflect a slower-than-anticipated recovery of order fulfillment rates, which are impacting the ability to consistently meet end-market demand.
Challenges Ahead
- Slower-than-anticipated recovery of order fulfillment rates
- Impact on the ability to consistently meet end-market demand
- Revenue is now expected to be in the range of $910 million to $920 million
- Adjusted EBITDA in the range of $210 million to $215 million
- Capital expenditures to be approximately $130 million
Revenue & Expenses
Visualization of income flow from segment revenue to net income