Inotiv, Inc. (NOTV) Misses Q2 EPS by 152c, withdraws guidance

Inotiv, Inc. (NASDAQ: NOTV) reported Q2 EPS of ($1.86), $1.52 worse than the analyst estimate of ($0.34). Revenue for the quarter came in at $119 million versus the consensus estimate of $135.68 million.

Strategic Update and Withdrawal of Fiscal 2024 Outlook

Due to the significant impact that NHP revenue has on our consolidated revenue and margins, and the current uncertainty in customer demand for NHPs, we are withdrawing financial guidance for fiscal year 2024.

We remain steadfast in the execution of our long-term strategic plan to achieve our financial goals. In the DSA segment, we are focused on optimizing our market share and increasing awards to utilize new services and additional capacity to grow DSA segment revenue. We believe that our strategic initiatives to increase our sales force, optimize sales territory coverage and focus on sales in Discovery Services put us in a position to gain market share and increase awards when biopharma companies begin to increase their level of investment in preclinical studies. We will also continue to stay focused on client satisfaction through innovation and the development of nimble solutions and custom offerings.

For earnings history and earnings-related data on Inotiv, Inc. (NOTV) click here.

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