Neogen Corp. (NASDAQ: NEOG) reported Q3 EPS of $0.12, $0.10 better than the analyst estimate of $0.02. Revenue for the quarter came in at $228.8 million versus the consensus estimate of $230.01 million.

GUIDANCE:

Neogen Corp. sees FY2024 revenue of $910-920 million, versus the consensus of $938.5 million.

• The Company is updating its full-year outlook to reflect a slower-than-anticipated recovery of order fulfillment rates, which are impacting the ability to consistently meet end-market demand. Revenue is now expected to be in the range of $910 million to $920 million, with Adjusted EBITDA in the range of $210 million to $215 million. The Company continues to expect capital expenditures to be approximately $130 million, including approximately $100 million related specifically to the integration of the former 3M Food Safety Division

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