Neogen Q1 Results Miss Estimates; Backs FY24 Outlook

RTTNews | 748 days ago
Stocktwits
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

Tags: NEOG
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Neogen Says USDA FSIS Selects Neogen MDS As Primary Method To Detect Salmonella, Listeria

Neogen Says USDA FSIS Selects Neogen MDS As Primary Method To Detect Salmonella, Listeria

Neogen Corp. (NEOG), a provider of food safety solutions, announced Monday that the U.S. Department of Agriculture Food Safety and Inspection Service (USDA FSIS) has named the Neogen Molecular Detection System (MDS) as its primary method to be used for the detection of Salmonella and Listeria monocytogenes testing for meat, poultry and egg products.
RTTNews | 504 days ago
Neogen Slips To Loss In Q2, But Revenue Surge 76%

Neogen Slips To Loss In Q2, But Revenue Surge 76%

Neogen Corp. (NEOG) reported on Thursday a net loss for the second quarter of $41.84 million or $0.19 per share, compared to net income of $10.83 million or $0.10 per share in the prior-year quarter.
RTTNews | 1026 days ago
Neogen Q1 Net Profit Plunges, But Revenue Up 3%

Neogen Q1 Net Profit Plunges, But Revenue Up 3%

Neogen Corp. (NEOG) reported on Tuesday that net income for the first quarter plunged to $5.21 million or $0.05 per share from to $17.08 million or $0.16 per share in the prior-year quarter.
RTTNews | 1126 days ago
FTSE 100 Moves In Tight Band; Fresnillo Down Sharply

FTSE 100 Moves In Tight Band; Fresnillo Down Sharply

UK stocks are moving in a tight range on Monday with investors mostly making cautious moves, looking ahead to the monetary policy meetings of the Federal Reserve, the European Central Bank and the Bank of Japan.
RTTNews | 44 minutes ago
French Stocks Turning In Mixed Performance; CAC Up Marginally

French Stocks Turning In Mixed Performance; CAC Up Marginally

After a slightly positive start and a subsequent drop, France's CAC 40 has edged up a bit on Monday with investors digesting earnings updates and the regional economic data, and looking ahead to the monetary policy announcements from the European Central Bank and the Federal Reserve this week.
RTTNews | 1h 20min ago
Eurozone Household Lending Growth Fastest Since 2023

Eurozone Household Lending Growth Fastest Since 2023

Lending to euro area households increased at the fastest pace since March 2023 but lending to businesses softened amid rising risks to economic growth. Adjusted loans to households grew 2.6 percent year-on-year in September, following a 2.5 percent rise in August, data from the European Central Bank showed on Monday. This was the fastest growth since March 2023.
RTTNews | 1h 46min ago
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