Million

Safety

<div class="textg" style="text-align: justify; font-weight: lighter; line-height: 1.3em; font-size: 15px; border-radius: 3px; color: #80909a; padding: 10px; background-color: #F4F6F9; margin-bottom: 15px;">
 Neither the author, Tim Fries, nor this website, The Tokenist, provide financial advice. Please consult our&nbsp;<a href="https://tokenist.com/terms-of-service/" style="text-decoration:underline;color:#3c7b7b" target="_blank" rel="noreferrer noopener" class="deco-link">website policy</a>&nbsp;prior to making financial decisions.
</div> 
<p class="has-drop-cap">Neogen Corporation (NASDAQ: NEOG) has recently <a href="https://www.neogen.com/neocenter/press-releases/neogen-announces-third-quarter-2024-results/" target="_blank" aria-label="disclosed (opens in a new tab)" rel="noreferrer noopener nofollow" class="deco-link">disclosed</a> its financial outcomes for the third quarter of the fiscal year 2024, marking significant milestones despite facing operational challenges. <br><br>The company reported a revenue of $228.8 million, reflecting a 4.8% increase from the previous year’s $218.3 million. This growth is attributed to the successful integration of the former 3M Food Safety business, including the relocation of the pathogen detection and sample handling product lines. <br><br>Neogen’s CEO, John Adent, highlighted the completion of significant integration milestones and the ongoing efforts to address operational inefficiencies that have temporarily impacted order fulfillment rates.</p> 
<p>Despite these challenges, Neogen’s adjusted net income remained stable at $26.4 million, equivalent to $0.12 per diluted share, closely mirroring the prior year’s performance. <br><br>The company also saw an improvement in its gross margin, which rose to 51.1% from 49.5% a year ago, mainly due to increased sales of higher-margin products in the Food Safety segment. However, a net loss of $2.0 million, or $0.01 per diluted share, was reported, contrasting with a net income of $8.2 million, or $0.04 per diluted share, in the same quarter of the previous year. This loss is primarily attributed to higher depreciation expenses and the ongoing operational inefficiencies from the integration process.</p> 
<h3 id="neogen-corporation-reports-230-01-m-in-revenue-for-q3-falls-short-of-expectations-by-1-21-million">Neogen Corporation Reports $230.01 M in Revenue for Q3, Falls Short of Expectations by $1.21 Million</h3> 
<p>Comparing Neogen’s performance against market expectations reveals a mixed picture. Analysts had projected earnings per share (<a href="https://tokenist.com/investing/how-to-value-a-stock/" rel="dofollow" class="deco-link">EPS</a>) of $0.015 and revenue of $230.01 million for the quarter. <br><br>While the company slightly missed the revenue target of $228.8 million, it surpassed the EPS expectations, reporting $0.12 per diluted share on an adjusted basis. <br><br>This discrepancy underscores the impact of the operational challenges Neogen faces, which have tempered its ability to fully capitalize on the improving end-market demand. Despite these hurdles, the company’s core revenue growth and the strategic expansion of its scale through the merger with the 3M Food Safety Division indicate a strong underlying business performance.</p> 
<div class="cta-referral"> 
 <img src="https://tokenist.com/wp-content/themes/thetokenist/assets/img/del/cta-referral-1.png" alt="" class="cta-referral__img" loading="lazy" decoding="async"> 
 <div class="cta-referral__text"> 
  <p>Join our&nbsp;<a href="https://t.me/thetokenist" target="_blank" rel="noreferrer noopener nofollow" class="deco-link">Telegram group&nbsp;and never miss a breaking story.</a></p> 
 </div> 
</div> 
<h3 id="neogen-corp-expects-full-year-revenue-between-910-to-920-million">Neogen Corp. Expects Full-Year Revenue Between $910 to $920 Million</h3> 
<p>Neogen has updated its full-year outlook to reflect the slower-than-anticipated recovery of order fulfillment rates, which are crucial for meeting consistent end-market demand. <br><br>The company now expects revenue to be between $910 million to $920 million, with adjusted EBITDA projected between $210 million and $215 million. This revised guidance considers the current operational inefficiencies and their impact on revenue generation. <br><br>Additionally, Neogen anticipates capital expenditures of approximately $130 million, with a significant portion allocated to integrating the former 3M Food Safety Division. This investment underscores the company’s commitment to overcoming the present challenges and capitalizing on the long-term benefits of its strategic initiatives.</p> <iframe src="https://tokenist.substack.com/embed" width="100%" height="320" style="border:1px solid #EEE; background:white;" frameborder="0" scrolling="no"></iframe> 
<p><em>Disclaimer: The author does not hold or have a position in any securities discussed in the article.</em></p> 
<h3 id="br"><br></h3> 
<p>The post <a rel="nofollow" href="https://tokenist.com/neogen-corporation-neog-q3-results-0-12-eps-228-8m-in-revenue/">Neogen Corporation (NEOG) Q3 Results: $0.12 EPS, $228.8M in Revenue</a> appeared first on <a rel="nofollow" href="https://tokenist.com">Tokenist</a>.</p>

Neogen Corporation (NEOG) Q3 Results: $0.12 EPS, $228.8M in Revenue

Table of Contents

Tokenist

Другие статьи, опубликованные 9 апр. 2024 г.

Arthur Hayes Advises Caution as Bitcoin Halving Approaches

Why is NEO Price Pumping? Analyst Shares Next Key Target

ZTX Metaverse Platform Joins Hands With Mon Protocol To Ensure Sustainable Community Development

Solana-based NFT Marketplace Tensor’s TNSR Token Gains Traction With Major Exchange Listings

If You Missed Bonk (BONK) and Dogwifhat (WIF), You Are Not Going To Want To Miss This Next Moonshot

Arthur Hayes Foresees Bitcoin Slump During Reward Halving

Join our free newsletter for daily crypto updates!