https://assets.capyfin.com/instruments/678fdc13234e27009c5d5779.png avatar
Neogen
🇺🇸 NASDAQ:NEOG
View Company
OverviewEarningsDividends
•
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%.

Total Revenue
$237M
Previous year: $242M
-2.1%
EPS
$0.1
Previous year: $0.14
-28.6%
Adjusted EBITDA Margin
22.4%
Previous year: 26.1%
-14.2%
Gross Profit
$113M
Previous year: $123M
-7.9%
Cash and Equivalents
$171M
Previous year: $246M
-30.5%
Free Cash Flow
$2.4M
Total Assets
$4.55B
Previous year: $4.55B
-0.1%

Neogen

Neogen

Neogen Revenue by Segment

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

Company Overview

Full financial data and analysis

View Neogen