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May 31, 2024
Neogen Q4 2024 Earnings Report
Neogen's Q4 2024 results were announced, with revenue of $236.8 million and adjusted net income of $22.4 million.
Key Takeaways
Neogen Corporation reported Q4 revenue of $236.8 million, a decrease of 2.1% compared to the prior year. The company experienced a net loss of $5.4 million, or $(0.02) per diluted share, but reported an adjusted net income of $22.4 million, or $0.10 per diluted share. The core revenue grew by 2.0%.
Revenue for the fourth quarter was $236.8 million, a decrease of 2.1% compared to the prior year.
Net loss for the fourth quarter was $5.4 million, or $(0.02) per diluted share.
Adjusted Net Income was $22.4 million, or $0.10 per diluted share.
Food Safety segment revenues were $166.9 million, a decrease of 1.4% compared to the prior year, while Animal Safety segment revenues were $69.9 million, a decrease of 3.7%.
Neogen
Neogen
Neogen Revenue by Segment
Revenue by Segment
Food Safety Revenue
CapyFin.comAnimal Safety Revenue
CapyFin.com Forward Guidance
The company is initiating its full-year outlook for fiscal year 2025. Revenue is expected to be $925 million to $955 million, reflecting core revenue growth in the mid-single-digit range, offset primarily by an anticipated foreign currency headwind. Adjusted EBITDA is expected to be $215 million to $235 million, while capital expenditures are expected to be approximately $85 million, including approximately $55 million related specifically to the integration of the former 3M Food Safety Division.
Positive Outlook
- Revenue is expected to be between $925 million and $955 million.
- Core revenue growth is expected in the mid-single-digit range.
- Adjusted EBITDA is projected to be between $215 million and $235 million.
- Integration of the former 3M Food Safety Division is progressing.
- Focus on driving improvements in combined operations.
Challenges Ahead
- Anticipated foreign currency headwind.
- Capital expenditures are expected to be approximately $85 million.
- Integration of the former 3M Food Safety Division involves significant capital expenditure.
- End-market conditions remained soft, but stable compared to the third quarter.
- Food production volumes were still mostly down on a year-over-year basis
Revenue & Expenses
Visualization of income flow from segment revenue to net income