Neogen Q1 FY2024 revenue $229M (+73%); core revenue declines 1.3%; adj. EPS $0.11

NEOGEN CORP

2024-Q1 EPS reported $0.01 revenue$228,987,000

Revenue $229.0M, +73% YoY driven by 3M Food Safety acquisition; core revenue ex-acquisition declined 1.3%.
Net income $1.5M ($0.01 diluted EPS) vs $5.2M ($0.05); adjusted net income $23.7M ($0.11) vs $17.6M ($0.16).
Adjusted EBITDA $52.4M (22.9% margin) vs $27.0M (20.4%); margin expansion from higher gross profit.
Food Safety segment revenue $166.3M (+157%); Animal Safety $62.7M (-7.4% core decline on destocking).
FY2024 guidance reaffirmed: revenue $955-985M, Adjusted EBITDA $235-255M; capex ~$130M incl. ~$100M for integration.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

NEOGEN CORP reported fiscal 2024 first quarter ended August 31, 2023 results: revenue $229.0 million, net income $1.5 million, or $0.01 per diluted share. Guidance reaffirmed.

Period: fiscal 2024 first quarter ended August 31, 2023
Revenue: $229.0 million
Net income: $1.5 million, or $0.01 per diluted share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

regardless of any general incorporation language in the filing. --- EX-99.1 (EX-99.1) --- EX-99.1 Exhibit 99.1 Neogen Announces First-Quarter 2024 Results • Revenue of $229.0 million, an increase of 73.0% over the prior-year quarter. • Net income of $1.5 million; $0.01 per diluted share. • Adjusted Net Income of $23.7 million; $0.11 per diluted share. •

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Source: SEC EDGAR

accession 0000950170-23-052530

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