Neogen ( (NEOG) ) has released its Q1 earnings. Here is a breakdown of the information Neogen presented to its investors.
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Neogen Corporation is a global leader in food and animal safety, providing comprehensive solutions across the Food Safety, Livestock, and Pet Health & Wellness markets. The company operates in over 140 countries, leveraging science and technology to enhance global food security and well-being.
In its first-quarter 2026 earnings report, Neogen announced revenues of $209.2 million and a net income of $36.3 million. The company also completed the divestiture of its Cleaners & Disinfectants business, which contributed to a $100 million debt repayment. Additionally, Neogen welcomed Mike Nassif as the new CEO and President and undertook restructuring actions to optimize its cost base.
Key financial metrics revealed a 3.6% decline in total revenue compared to the previous year, primarily due to divestitures and discontinued product lines. Despite this, core revenue saw a slight increase of 0.3%. The Food Safety segment experienced a 4.6% revenue decline, while the Animal Safety segment saw a marginal 0.8% decrease. Adjusted EBITDA for the quarter was $35.5 million, with a margin of 17.0%, reflecting a decrease from the prior year’s 20.1% margin.
Neogen’s management remains optimistic about the future, reaffirming its full-year outlook for fiscal 2026. The company anticipates revenues between $820 million and $840 million, with adjusted EBITDA expected to range from $165 million to $175 million. This outlook underscores Neogen’s commitment to strategic reinvestment and innovation, aiming for sustainable value creation for shareholders.