Neogen Q3 2024 Earnings Report
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
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