secwatch.observer — SEC 8-K summary
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Issuer:     NEOGEN CORP (NEOG)
CIK:        0000711377
Form:       8-K
Filed at:   2023-10-10T23:59:59+00:00
Accession:  0000950170-23-052530
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/711377/000095017023052530/0000950170-23-052530-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/711377/000095017023052530/neog-20231010.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-052530

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