secwatch.observer — SEC 8-K summary
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Issuer:     NEOGEN CORP (NEOG)
CIK:        0000711377
Form:       8-K
Filed at:   2024-04-09T23:59:59+00:00
Accession:  0000950170-24-042786
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Neogen reports Q3 revenue up 4.8% to $228.8M but net loss of $2.0M; cuts FY2024 outlook
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- Net loss of $2.0M ($0.01 diluted EPS) vs net income $8.2M ($0.04) a year ago.
- Adjusted Net Income $26.4M ($0.12 diluted EPS), flat YoY; Adjusted EBITDA $52.7M (23.0% margin).
- Cuts FY2024 revenue guidance to $910-920M and Adj. EBITDA to $210-215M.
- Integration of 3M Food Safety creates operational inefficiencies slowing order fulfillment rates.
- Cash and investments $168.4M; total debt $900.0M with $150M undrawn credit.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/711377/000095017024042786/0000950170-24-042786-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/711377/000095017024042786/neog-20240409.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-042786

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer