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May 31, 2023
Neogen Q4 2023 Earnings Report
Neogen's Q4 2023 results were announced, featuring a significant revenue increase driven by the 3M Food Safety Division merger, alongside a decrease in net income due to related costs.
Key Takeaways
Neogen reported a 72.6% increase in revenue to $241.8 million for Q4 2023, driven by the acquisition of the 3M Food Safety Division. Net income decreased to $5.6 million, or $0.03 per diluted share, due to transaction and integration costs. Adjusted Net Income was $30.2 million, or $0.14 per diluted share. The company anticipates revenue between $955 million and $985 million for fiscal year 2024.
Revenue increased by 72.6% to $241.8 million compared to the prior-year quarter.
Net income was $5.6 million, or $0.03 per diluted share.
Adjusted Net Income reached $30.2 million, or $0.14 per diluted share.
Adjusted EBITDA increased by 97.0% to $63.1 million, with a margin of 26.1%.
Revenue by Segment
Forward Guidance
In fiscal year 2024, the Company anticipates total revenue to be between $955 million and $985 million, while Adjusted EBITDA is expected to be in a range of $235 million to $255 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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