Neogen Q1 Results Miss Estimates; Backs FY24 Outlook
(RTTNews) - Neogen Corp. (NEOG) reported on Tuesday that net income for the first quarter plunged to $1.50 million or $0.01 per share from to $5.21 million or $0.05 per share in the prior-year quarter.
Excluding items, adjusted earnings were $0.11 per share, compared to $0.16 per share in the year-ago quarter.
On average, analysts polled by Thomson Reuters expected earnings of $0.12 per share for the quarter. Analysts' estimates typically exclude special items.
Total revenue for the quarter surged 73.0 percent to $228.99 million from $132.35 million in the same quarter last year. Analysts expected revenues of $231.10 million for the quarter.
Looking ahead to fiscal 2024, taking into account first-quarter results, as well as typical seasonality of revenue and the expectation of an improved end-market environment in the second half of the year, the company continues to anticipate revenue between $955 million and $985 million. The Street is looking for revenues of $968.41 million for the quarter.
For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com
Neogen Says USDA FSIS Selects Neogen MDS As Primary Method To Detect Salmonella, Listeria
Neogen Slips To Loss In Q2, But Revenue Surge 76%
Neogen Q1 Net Profit Plunges, But Revenue Up 3%
Antipodean Currencies Fall Amid Risk-off Mood
NZ Dollar Slides Against Majors
Australian Dollar Falls Against Majors
European Shares Poised For Weak Start As Fed Rate Cut Hopes Fade
