•
May 31, 2022
Neogen Q4 2022 Earnings Report
Neogen's Q4 2022 earnings demonstrated revenue growth and improved gross margins.
Key Takeaways
Neogen Corporation announced a 10% increase in revenue for the fourth quarter, reaching $140.09 million. EPS was reported at $0.14, with an adjusted EPS of $0.18. The company's gross margins improved, and the transaction with 3M Food Safety is on track.
Fourth quarter revenue increased by 10% to $140.09 million.
Reported EPS was $0.14, and adjusted EPS was $0.18, excluding 3M Food Safety deal-related costs.
Gross margins improved to 46.4% of sales.
Animal Safety segment revenue increased by 15%, while Food Safety segment revenue increased by 5%.
Neogen
Neogen
Neogen Revenue by Segment
Forward Guidance
Neogen is expecting the 3M Food Safety transaction to close in the third quarter of calendar year 2022.
Positive Outlook
- 3M Food Safety transaction on track to close in the third quarter of calendar year 2022
- Integration efforts are well prepared
- Looking forward to welcoming the 3M Food Safety team members to the Neogen family
- Future is bright as we begin to build the next chapter of Neogen together post-close
- Celebrating our 40th year of operations
Revenue & Expenses
Visualization of income flow from segment revenue to net income