Catalent, Inc. Reports First Quarter Fiscal 2023 Results
Catalent reported Q1'23 net revenue of $1.02 billion, unchanged from last year but up 4% in constant currency. Organic net revenue dipped 1%. Adjusted EBITDA fell 26% to $187 million. Results were negatively impacted by $54 million due to contract timing but are expected to be recognized in Q2'23. The acquisition of Metrics Contract Services for $475 million was finalized in October 2022. Updated guidance for FY'23 projects net revenue between $4,625 million and $4,875 million with Adjusted EBITDA of $1,220 million to $1,300 million.
- Increased net revenue in constant currency by 4% compared to Q1'22.
- Acquisition of Metrics Contract Services enhances operational capacity.
- Net earnings attributable to common shareholders were zero compared to $84 million in Q1'22.
- Adjusted EBITDA decreased by 26% year-over-year.
- Worsening macroeconomic conditions impacting guidance.
-
Q1'23 net revenue of
, consistent with the prior-year period as reported, but increased$1.02 billion 4% in constant currency, compared to Q1'22. Organic, constant-currency net revenue decreased by1% , compared to Q1'22. - Q1'23 net earnings of zero.
-
Q1'23 Adjusted EBITDA(1) of
decreased$187 million 26% as reported, or24% in constant currency, compared to Q1'22. -
Q1'23 Revenue and Adjusted EBITDA negatively impacted by
due to timing of resolution of previously executed take-or-pay contracts; amount has been paid and is expected to be recognized in Q2'23.$54 million -
Completed acquisition of Metrics Contract Services in
October 2022 for , excluding adjustments.$475 million -
Updated FY'23 financial guidance projects net revenue of
to$4,625 million and Adjusted EBITDA of$4,875 million to$1,220 million .$1,300 million
“We are enthusiastic about our long-term prospects and opportunities, enabled by the groundwork we have laid with our strategic organic and inorganic investments and the strong, continuing demand for offerings across our comprehensive portfolio,” commented
First Quarter 2023 Consolidated Results
Note that Catalent’s reorganized its reporting segments as of
Results in the first quarter were initially expected to include
Net revenue of
Net earnings attributable to common shareholders and earnings per basic and diluted share were zero, compared to net earnings attributable to common shareholders of
EBITDA from operations(1) was
Adjusted Net Income(1) was
(1) See "Non-GAAP Financial Measures" below and the GAAP to non-GAAP reconciliation provided later in this release.
First Quarter 2023 Segment Review
(Dollars in millions) |
Three Months Ended |
|
Constant Currency |
|||||||
|
|
2022 |
|
|
|
2021 |
|
|
Change % |
|
Biologics |
|
|
|
|
|
|||||
Net revenue |
$ |
523 |
|
|
$ |
548 |
|
|
(2 |
)% |
Segment EBITDA |
|
113 |
|
|
|
167 |
|
|
(33 |
)% |
Segment EBITDA margin |
|
21.5 |
% |
|
|
30.4 |
% |
|
|
|
|
|
|
|
|
|
|||||
Net revenue |
|
499 |
|
|
|
477 |
|
|
11 |
% |
Segment EBITDA |
|
108 |
|
|
|
99 |
|
|
20 |
% |
Segment EBITDA margin |
|
21.7 |
% |
|
|
20.7 |
% |
|
|
|
Unallocated costs |
|
(87 |
) |
|
|
(56 |
) |
|
67 |
% |
Combined totals |
|
|
|
|
|
|||||
Net revenue |
$ |
1,022 |
|
|
$ |
1,025 |
|
|
4 |
% |
EBITDA from operations |
$ |
134 |
|
|
$ |
210 |
|
|
(34 |
)% |
Biologics segment |
2022 vs. 2021 |
||||
Year-Over-Year Change |
Three Months Ended
|
||||
|
Net Revenue |
|
Segment EBITDA |
||
Organic |
(2 |
)% |
|
(31 |
)% |
Impact of acquisitions |
— |
% |
|
(2 |
)% |
Constant-currency change |
(2 |
)% |
|
(33 |
)% |
Foreign exchange translation impact on reporting |
(3 |
)% |
|
(1 |
)% |
Total % change |
(5 |
)% |
|
(34 |
)% |
|
2022 vs. 2021 |
||||
Year-Over-Year Change |
Three Months Ended
|
||||
|
Net Revenue |
|
Segment EBITDA |
||
Organic |
1 |
% |
|
8 |
% |
Impact of acquisitions |
10 |
% |
|
12 |
% |
Constant-currency change |
11 |
% |
|
20 |
% |
Foreign currency translation impact on reporting |
(7 |
)% |
|
(11 |
)% |
Total % change |
4 |
% |
|
9 |
% |
Segment Net Revenue as a % of Total Net Revenue |
||||||||||||||
|
Three Months Ended |
|||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||
Biologics |
51 |
% |
|
51 |
% |
|
55 |
% |
|
53 |
% |
|
53 |
% |
|
49 |
% |
|
49 |
% |
|
45 |
% |
|
47 |
% |
|
47 |
% |
Net Revenue |
100 |
% |
|
100 |
% |
|
100 |
% |
|
100 |
% |
|
100 |
% |
Balance Sheet and Liquidity
As of
Catalent’s net leverage ratio(1) as of
Updated Fiscal Year 2023 Outlook
|
Previous FY'23 Full Year Guidance |
Updated FY'23 Full Year Guidance |
Net revenue |
|
|
Adjusted EBITDA |
|
|
Adjusted net income |
|
|
Weighted average shares outstanding - diluted |
181 million - 183 million |
181 million - 183 million |
Earnings Webcast
The Company’s management will host a webcast to discuss the results at
About
(1) See "Non-GAAP Financial Measures" below and the GAAP to non-GAAP reconciliation provided later in this release.
Non-GAAP Financial Measures
Use of EBITDA from operations, Adjusted EBITDA, Adjusted Net Income and Segment EBITDA
Management measures operating performance based on consolidated earnings from operations before interest expense, expense (benefit) for income taxes, and depreciation and amortization, adjusted for the income or loss attributable to non-controlling interests (“EBITDA from operations”). EBITDA from operations is not defined under
In addition, given the significant investments that
Management also measures operating performance based on Adjusted Net Income and Adjusted Net Income per share. Adjusted Net Income is not defined under
The most directly comparable
Use of Constant Currency
As changes in exchange rates are an important factor in understanding period-to-period comparisons,
Forward-Looking Statements
This release contains both historical and forward-looking statements. All statements other than statements of historical fact, are, or may be deemed to be, forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally can be identified by the use of statements that include phrases such as “believe,” “expect,” “anticipate,” “intend,” “estimate,” “plan,” “project,” “predict,” “hope,” “foresee,” “likely,” “may,” “could,” “target,” “will,” “would,” or other words or phrases with similar meanings. Similarly, statements that describe Catalent’s objectives, plans, or goals are, or may be, forward-looking statements. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or unknown risks or uncertainties materialize, actual results could vary materially from Catalent’s expectations and projections. Some of the factors that could cause actual results to differ include, but are not limited to, the following: the current or future effects of the COVID-19 pandemic or any global health developments on
More products. Better treatments. Reliably supplied.™
Consolidated Statements of Operations (Unaudited; dollars and shares in millions, except per share data) |
|||||||||||||||||
|
Three Months Ended
|
|
FX Impact |
|
Constant Currency Increase (Decrease) |
||||||||||||
|
|
2022 |
|
|
2021 |
|
|
|
|
Change $ |
|
Change % |
|||||
Net revenue |
$ |
1,022 |
|
$ |
1,025 |
|
|
$ |
(48 |
) |
|
$ |
45 |
|
|
4 |
% |
Cost of sales |
|
764 |
|
|
701 |
|
|
|
(36 |
) |
|
|
99 |
|
|
14 |
% |
Gross margin |
|
258 |
|
|
324 |
|
|
|
(12 |
) |
|
|
(54 |
) |
|
(16 |
)% |
Selling, general, and administrative expenses |
|
196 |
|
|
183 |
|
|
|
(6 |
) |
|
|
19 |
|
|
11 |
% |
Gain on sale of subsidiary |
|
— |
|
|
(1 |
) |
|
|
— |
|
|
|
1 |
|
|
* |
|
Other operating expense, net |
|
2 |
|
|
4 |
|
|
|
1 |
|
|
|
(3 |
) |
|
(72 |
)% |
Operating earnings |
|
60 |
|
|
138 |
|
|
|
(7 |
) |
|
|
(71 |
) |
|
(52 |
)% |
Interest expense, net |
|
32 |
|
|
26 |
|
|
|
(1 |
) |
|
|
7 |
|
|
26 |
% |
Other expense, net |
|
25 |
|
|
9 |
|
|
|
(5 |
) |
|
|
21 |
|
|
256 |
% |
Earnings before income taxes |
|
3 |
|
|
103 |
|
|
|
(1 |
) |
|
|
(99 |
) |
|
(96 |
)% |
Income tax expense |
|
3 |
|
|
10 |
|
|
|
(2 |
) |
|
|
(5 |
) |
|
(57 |
)% |
Net earnings |
$ |
— |
|
$ |
93 |
|
|
$ |
1 |
|
|
$ |
(94 |
) |
|
(100 |
)% |
Less: Net earnings attributable to preferred shareholders |
|
— |
|
|
(9 |
) |
|
|
|
|
|
|
|||||
Net earnings attributable to common shareholders |
$ |
— |
|
$ |
84 |
|
|
|
|
|
|
|
|||||
|
|
|
|
|
|
|
|
|
|
||||||||
Weighted average shares outstanding - basic |
|
180 |
|
|
171 |
|
|
|
|
|
|
|
|||||
Weighted average shares outstanding - diluted |
|
181 |
|
|
172 |
|
|
|
|
|
|
|
|||||
|
|
|
|
|
|
|
|
|
|
||||||||
Earnings per share: |
|
|
|
|
|
|
|
|
|
||||||||
Basic |
|
|
|
|
|
|
|
|
|
||||||||
Net earnings |
$ |
— |
|
$ |
0.49 |
|
|
|
|
|
|
|
|||||
Diluted |
|
|
|
|
|
|
|
|
|
||||||||
Net earnings |
$ |
— |
|
$ |
0.49 |
|
|
|
|
|
|
|
Condensed Consolidated Balance Sheets (Unaudited; dollars in millions) |
|||||
|
|
|
|
||
ASSETS |
|
|
|
||
Current assets: |
|
|
|
||
Cash and cash equivalents |
$ |
281 |
|
$ |
449 |
Trade receivables, net |
|
989 |
|
|
1,051 |
Inventories |
|
732 |
|
|
702 |
Prepaid expenses and other |
|
632 |
|
|
625 |
Marketable securities |
|
64 |
|
|
89 |
Total current assets |
|
2,698 |
|
|
2,916 |
Property, plant, and equipment, net |
|
3,167 |
|
|
3,127 |
Other non-current assets, including intangible assets |
|
4,340 |
|
|
4,464 |
Total assets |
$ |
10,205 |
|
$ |
10,507 |
|
|
|
|
||
LIABILITIES AND SHAREHOLDERS' EQUITY |
|||||
Current liabilities: |
|
|
|
||
Current portion of long-term obligations and other short-term borrowings |
$ |
106 |
|
$ |
31 |
Accounts payable |
|
379 |
|
|
421 |
Other accrued liabilities |
|
458 |
|
|
620 |
Total current liabilities |
|
943 |
|
|
1,072 |
Long-term obligations, less current portion |
|
4,098 |
|
|
4,171 |
Other non-current liabilities |
|
464 |
|
|
469 |
Total shareholders' equity |
|
4,700 |
|
|
4,795 |
Total liabilities and shareholders' equity |
$ |
10,205 |
|
$ |
10,507 |
Condensed Consolidated Statements of Cash Flows (Unaudited; dollars in millions) |
|||||||
|
Three Months Ended
|
||||||
|
|
2022 |
|
|
|
2021 |
|
CASH FLOWS FROM OPERATING ACTIVITIES: |
|
|
|
||||
Net cash (used in) provided by operating activities |
$ |
(92 |
) |
|
$ |
163 |
|
CASH FLOWS FROM INVESTING ACTIVITIES: |
|
|
|
||||
Acquisition of property, equipment, and other productive assets |
|
(149 |
) |
|
|
(154 |
) |
Proceeds from sale of marketable securities |
|
24 |
|
|
|
20 |
|
Proceeds from sale of property and equipment |
|
6 |
|
|
|
— |
|
Settlement on sale of subsidiaries, net |
|
— |
|
|
|
(3 |
) |
Payment for acquisitions, net of cash acquired |
|
— |
|
|
|
(26 |
) |
Proceeds from (payments for) investments |
|
3 |
|
|
|
(4 |
) |
Net cash used in investing activities |
|
(116 |
) |
|
|
(167 |
) |
CASH FLOWS FROM FINANCING ACTIVITIES: |
|
|
|
||||
Proceeds from borrowing, net |
|
75 |
|
|
|
1,096 |
|
Payments related to long-term obligations |
|
(7 |
) |
|
|
(3 |
) |
Financing fees paid |
|
— |
|
|
|
(15 |
) |
Dividends paid |
|
— |
|
|
|
(4 |
) |
Cash received (paid), in lieu of equity, for tax withholding obligations |
|
2 |
|
|
|
(4 |
) |
Exercise of stock options |
|
1 |
|
|
|
8 |
|
Other financing activities |
|
3 |
|
|
|
4 |
|
Net cash provided by financing activities |
|
74 |
|
|
|
1,082 |
|
Effect of foreign currency exchange on cash and cash equivalents |
|
(34 |
) |
|
|
(5 |
) |
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS |
|
(168 |
) |
|
|
1,073 |
|
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD |
|
449 |
|
|
|
896 |
|
CASH AND CASH EQUIVALENTS AT END OF PERIOD |
$ |
281 |
|
|
$ |
1,969 |
|
Reconciliation of Net Earnings to EBITDA from Operations and Adjusted EBITDA* (Unaudited; dollars in millions) |
|||||||||||||||||
|
Three months ended |
||||||||||||||||
|
2021 |
|
|
|
|
|
|
|
|
||||||||
Net earnings |
$ |
93 |
|
|
$ |
97 |
|
$ |
141 |
|
|
$ |
188 |
|
$ |
— |
|
Interest expense, net |
|
26 |
|
|
|
32 |
|
|
33 |
|
|
|
32 |
|
|
32 |
|
Income tax expense |
|
10 |
|
|
|
18 |
|
|
35 |
|
|
|
23 |
|
|
3 |
|
Depreciation and amortization |
|
81 |
|
|
|
98 |
|
|
99 |
|
|
|
100 |
|
|
99 |
|
EBITDA from operations |
|
210 |
|
|
|
245 |
|
|
308 |
|
|
|
343 |
|
|
134 |
|
Stock-based compensation |
|
21 |
|
|
|
11 |
|
|
10 |
|
|
|
12 |
|
|
19 |
|
Impairment charges and gain/loss on sale of assets |
|
3 |
|
|
|
16 |
|
|
2 |
|
|
|
10 |
|
|
(2 |
) |
Financing-related expenses |
|
4 |
|
|
|
— |
|
|
— |
|
|
|
— |
|
|
— |
|
Restructuring costs |
|
1 |
|
|
|
1 |
|
|
3 |
|
|
|
5 |
|
|
4 |
|
Acquisition, integration, and other special items |
|
7 |
|
|
|
22 |
|
|
9 |
|
|
|
8 |
|
|
5 |
|
Gain on sale of subsidiary |
|
(1 |
) |
|
|
— |
|
|
— |
|
|
|
— |
|
|
— |
|
Foreign exchange loss |
|
9 |
|
|
|
15 |
|
|
1 |
|
|
|
6 |
|
|
27 |
|
Inventory fair value step-up charges |
|
— |
|
|
|
— |
|
|
7 |
|
|
|
— |
|
|
— |
|
Other adjustments |
|
(2 |
) |
|
|
— |
|
|
(1 |
) |
|
|
— |
|
|
— |
|
Adjusted EBITDA |
$ |
252 |
|
|
$ |
310 |
|
$ |
339 |
|
|
$ |
384 |
|
$ |
187 |
|
Favorable (unfavorable) FX impact |
|
|
|
|
|
|
|
|
|
(4 |
) |
||||||
Adjusted EBITDA at constant currency |
|
|
|
|
|
|
|
|
$ |
191 |
|
||||||
* Refer to |
Reconciliation of Net Earnings to Adjusted Net Income* (Unaudited; dollars in millions, except per share data) |
|||||||||||||||||||
|
Three months ended |
||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
||||||||||
Net earnings |
$ |
93 |
|
|
$ |
97 |
|
|
$ |
141 |
|
|
$ |
188 |
|
|
$ |
— |
|
Amortization (1) |
|
23 |
|
|
|
34 |
|
|
|
33 |
|
|
|
33 |
|
|
|
33 |
|
Stock-based compensation |
|
21 |
|
|
|
11 |
|
|
|
10 |
|
|
|
12 |
|
|
|
19 |
|
Impairment charges and gain/loss on sale of assets (2) |
|
3 |
|
|
|
16 |
|
|
|
2 |
|
|
|
10 |
|
|
|
(2 |
) |
Financing-related expenses |
|
4 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Restructuring costs |
|
1 |
|
|
|
1 |
|
|
|
3 |
|
|
|
5 |
|
|
|
4 |
|
Acquisition, integration, and other special items |
|
7 |
|
|
|
22 |
|
|
|
9 |
|
|
|
8 |
|
|
|
5 |
|
Gain on sale of subsidiary (3) |
|
(1 |
) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Foreign exchange loss |
|
9 |
|
|
|
15 |
|
|
|
1 |
|
|
|
6 |
|
|
|
27 |
|
Inventory fair value step-up charges (4) |
|
— |
|
|
|
— |
|
|
|
7 |
|
|
|
— |
|
|
|
— |
|
Other adjustments (5) |
|
(2 |
) |
|
|
— |
|
|
|
(1 |
) |
|
|
(1 |
) |
|
|
— |
|
Estimated tax effect of adjustments (6) |
|
(15 |
) |
|
|
(24 |
) |
|
|
(15 |
) |
|
|
(18 |
) |
|
|
(19 |
) |
Discrete income tax (benefit) expense items (7) |
|
(15 |
) |
|
|
(9 |
) |
|
|
(2 |
) |
|
|
(28 |
) |
|
|
(6 |
) |
Adjusted net income (ANI) |
$ |
128 |
|
|
$ |
163 |
|
|
$ |
188 |
|
|
$ |
215 |
|
|
$ |
61 |
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Weighted average shares outstanding - basic |
|
171 |
|
|
|
|
|
|
|
|
|
180 |
|
||||||
Weighted average shares outstanding - diluted |
|
172 |
|
|
|
|
|
|
|
|
|
181 |
|
||||||
|
|
|
|
|
|
|
|
|
|
||||||||||
Earnings per share: |
|
|
|
|
|
|
|
|
|
||||||||||
Net earnings per share - basic |
$ |
0.49 |
|
|
|
|
|
|
|
|
$ |
— |
|
||||||
Net earnings per share - diluted |
$ |
0.49 |
|
|
|
|
|
|
|
|
$ |
— |
|
||||||
|
|
|
|
|
|
|
|
|
|
||||||||||
ANI per share: |
|
|
|
|
|
|
|
|
|
||||||||||
ANI per share - basic |
$ |
0.75 |
|
|
|
|
|
|
|
|
$ |
0.34 |
|
||||||
ANI per share - diluted (8) |
$ |
0.71 |
|
|
|
|
|
|
|
|
$ |
0.34 |
|
* Refer to |
|
(1) |
Represents the amortization attributable to purchase accounting for previously completed business combinations. |
(2) |
For the three months ended |
(3) |
Represents the gain on sale of subsidiary associated with the 2021 divestiture of our former blow-fill-seal business. |
(4) |
Represents a one-time non-cash inventory fair value adjustment of |
(5) |
Represents unrealized gains related to the fair value of the derivative liability associated with our formerly outstanding Series A convertible preferred stock. |
(6) |
The tax effect of adjustments to Adjusted Net Income is computed by applying the statutory tax rate in the jurisdictions to the income or expense items that are adjusted in the period presented; if a valuation allowance exists, the rate applied is zero. |
(7) |
Discrete period income tax expense (benefit) items are unusual or infrequently occurring items, primarily including: changes in judgment related to the realizability of deferred tax assets in future years, changes in measurement of a prior-year tax position, deferred tax impact of changes in tax law, and purchase accounting. |
(8) |
For the three months ended |
Reconciliation of Segment EBITDA to Net Earnings (Unaudited; dollars in millions, except per share data) |
|||||||
|
Three Months Ended
|
||||||
|
2022 |
|
|
|
2021 |
|
|
Biologics |
$ |
113 |
|
|
$ |
167 |
|
|
|
108 |
|
|
|
99 |
|
Sub-Total |
$ |
221 |
|
|
$ |
266 |
|
Reconciling items to net earnings |
|
|
|
||||
Unallocated costs (1) |
|
(87 |
) |
|
|
(56 |
) |
Depreciation and amortization |
|
(99 |
) |
|
|
(81 |
) |
Interest expense, net |
|
(32 |
) |
|
|
(26 |
) |
Income tax expense |
|
(3 |
) |
|
|
(10 |
) |
Net earnings |
$ |
— |
|
|
$ |
93 |
|
(1) Unallocated costs include restructuring and special items, stock-based compensation, impairment charges, gain on sale of subsidiary, certain other corporate directed costs, and other costs that are not allocated to the segments. |
Calculation of Net Leverage Ratio (Unaudited; dollars in millions) |
|||||||||||||||||
|
Pro Forma (1) |
|
|
|
|
|
|
|
|
|
Pro Forma (2) |
||||||
Total Secured Debt |
$ |
1,435 |
|
$ |
1,431 |
|
$ |
1,428 |
|
$ |
1,424 |
|
$ |
1,497 |
|
$ |
1,997 |
Total Unsecured Debt |
|
2,869 |
|
|
2,789 |
|
|
2,758 |
|
|
2,778 |
|
|
2,707 |
|
|
2,707 |
Total Debt |
|
4,304 |
|
|
4,220 |
|
|
4,186 |
|
|
4,202 |
|
|
4,204 |
|
|
4,704 |
Cash and Cash Equivalents |
|
971 |
|
|
849 |
|
786 |
|
|
449 |
|
|
281 |
|
|
281 |
|
|
|
50 |
|
|
66 |
|
94 |
|
|
89 |
|
|
64 |
|
|
64 |
|
Total Net Debt |
|
3,283 |
|
|
3,305 |
|
|
3,306 |
|
|
3,664 |
|
|
3,859 |
|
|
4,359 |
Adjusted EBITDA |
|
|
|
|
|
|
|
|
|
|
|
||||||
Q2 2021 |
|
224 |
|
|
|
|
|
|
|
|
|
|
|||||
Q3 2021 |
|
274 |
|
|
274 |
|
|
|
|
|
|
|
|
||||
Q4 2021 |
|
348 |
|
|
348 |
|
|
348 |
|
|
|
|
|
|
|||
Q1 2022 |
|
252 |
|
|
252 |
|
|
252 |
|
|
252 |
|
|
|
|
||
Q2 2022 |
|
|
|
310 |
|
|
310 |
|
|
310 |
|
|
310 |
|
|
310 |
|
Q3 2022 |
|
|
|
|
|
339 |
|
|
339 |
|
|
339 |
|
|
339 |
||
Q4 2022 |
|
|
|
|
|
|
|
384 |
|
|
384 |
|
|
384 |
|||
Q1 2023 |
|
|
|
|
|
|
|
|
|
187 |
|
|
187 |
||||
LTM Adjusted EBITDA |
$ |
1,098 |
|
$ |
1,184 |
|
$ |
1,249 |
|
$ |
1,285 |
|
$ |
1,220 |
|
$ |
1,220 |
|
0.4x |
|
0.4x |
|
0.4x |
|
0.7x |
|
0.9x |
|
1.4x |
||||||
Net Debt / Adj. EBITDA |
3.0x |
|
2.8x |
|
2.6x |
|
2.9x |
|
3.2x |
|
3.6x |
||||||
(1) Assumes our Bettera Wellness acquisition, which actually closed in |
|||||||||||||||||
(2) Assumes our Metrics acquisition, which actually closed in |
Prior Periods Recast for Segment Reorganization (Unaudited; dollars in millions) |
|||
Segment information for the three months ended |
|||
|
Three Months Ended
|
||
Biologics |
|
||
Net revenue |
$ |
548 |
|
Segment EBITDA |
|
167 |
|
Segment EBITDA margin |
|
30.4 |
% |
|
|
||
Net revenue |
|
477 |
|
Segment EBITDA |
|
99 |
|
Segment EBITDA margin |
|
20.7 |
% |
Unallocated costs |
|
(56 |
) |
Combined totals |
|
||
Net revenue |
$ |
1,025 |
|
EBITDA from operations |
$ |
210 |
|
Biologics |
|||||
|
|||||
|
2021 vs. 2020 |
||||
Year-Over-Year Change |
Three Months Ended
|
||||
|
Net Revenue |
|
Segment EBITDA |
||
Organic |
44 |
% |
|
58 |
% |
Impact of acquisitions |
— |
% |
|
(1 |
)% |
Constant-currency change |
44 |
% |
|
57 |
% |
Foreign exchange translation impact on reporting |
1 |
% |
|
— |
% |
Total % change |
45 |
% |
|
57 |
% |
Prior Periods Recast for Segment Reorganization (Unaudited; dollars in millions) |
|||||
|
|||||
|
2021 vs. 2020 |
||||
Year-Over-Year Change |
Three Months Ended
|
||||
|
Net Revenue |
|
Segment EBITDA |
||
Organic |
6 |
% |
|
29 |
% |
Impact of acquisitions |
— |
% |
|
(6 |
)% |
Impact of divestitures |
(5 |
)% |
|
(9 |
)% |
Constant-currency change |
1 |
% |
|
14 |
% |
Foreign currency translation impact on reporting |
1 |
% |
|
3 |
% |
Total % change |
2 |
% |
|
17 |
% |
Reconciliation of Segment EBITDA to Net Earnings |
|||||||
|
Three Months Ended
|
||||||
|
2021 |
|
|
|
2020 |
|
|
Biologics |
$ |
167 |
|
|
$ |
106 |
|
|
|
99 |
|
|
|
85 |
|
Sub-Total |
$ |
266 |
|
|
$ |
191 |
|
Reconciling items to net earnings |
|
|
|
||||
Unallocated costs |
|
(56 |
) |
|
|
(29 |
) |
Depreciation and amortization |
|
(81 |
) |
|
|
(69 |
) |
Interest expense, net |
|
(26 |
) |
|
|
(26 |
) |
Income tax expense |
|
(10 |
) |
|
|
15 |
|
Net earnings |
$ |
93 |
|
|
$ |
82 |
|
Disaggregated Revenue |
|||||||||
Three Months Ended |
|
Biologics |
|
|
|
Total |
|||
Manufacturing & commercial product supply |
|
$ |
134 |
|
$ |
276 |
|
$ |
410 |
Development services & clinical supply |
|
|
414 |
|
|
201 |
|
|
615 |
Total |
|
$ |
548 |
|
$ |
477 |
|
$ |
1,025 |
Prior Periods Recast for Segment Reorganization (Unaudited; dollars in millions) |
|||||||
Segment information for the three and six months ended |
|||||||
|
Three Months Ended |
|
Six Months Ended |
||||
|
|
2021 |
|
|
|
2021 |
|
Biologics |
|
|
|
||||
Net revenue |
$ |
641 |
|
|
$ |
1,189 |
|
Segment EBITDA |
|
199 |
|
|
|
366 |
|
Segment EBITDA margin |
|
31.1 |
% |
|
|
30.8 |
% |
|
|
|
|
||||
Net revenue |
|
577 |
|
|
|
1,054 |
|
Segment EBITDA |
|
147 |
|
|
|
246 |
|
Segment EBITDA margin |
|
25.4 |
% |
|
|
23.3 |
% |
Inter-segment revenue elimination |
|
(1 |
) |
|
|
(1 |
) |
Unallocated costs |
|
(101 |
) |
|
|
(157 |
) |
Combined totals |
|
|
|
||||
Net revenue |
$ |
1,217 |
|
|
$ |
2,242 |
|
EBITDA from operations |
$ |
245 |
|
|
$ |
455 |
|
Biologics |
|||||||||||
|
2021 vs. 2020 |
|
2021 vs. 2020 |
||||||||
Year-Over-Year Change |
Three Months Ended
|
|
Six Months Ended
|
||||||||
|
Net Revenue |
|
Segment EBITDA |
|
Net Revenue |
|
Segment EBITDA |
||||
Organic |
59 |
% |
|
48 |
% |
|
52 |
% |
|
52 |
% |
Impact of acquisitions |
— |
% |
|
(1 |
)% |
|
— |
% |
|
(1 |
)% |
Constant-currency change |
59 |
% |
|
47 |
% |
|
52 |
% |
|
51 |
% |
Foreign exchange translation impact on reporting |
(1 |
)% |
|
(1 |
)% |
|
(1 |
)% |
|
— |
% |
Total % change |
58 |
% |
|
46 |
% |
|
51 |
% |
|
51 |
% |
Prior Periods Recast for Segment Reorganization (Unaudited; dollars in millions) |
|||||||||||
|
|||||||||||
|
2021 vs. 2020 |
|
2021 vs. 2020 |
||||||||
Year-Over-Year Change |
Three Months Ended
|
|
Six Months Ended
|
||||||||
|
Net Revenue |
|
Segment EBITDA |
|
Net Revenue |
|
Segment EBITDA |
||||
Organic |
10 |
% |
|
28 |
% |
|
8 |
% |
|
28 |
% |
Impact of acquisitions |
11 |
% |
|
9 |
% |
|
6 |
% |
|
3 |
% |
Impact of divestitures |
(5 |
)% |
|
(7 |
)% |
|
(5 |
)% |
|
(8 |
)% |
Constant-currency change |
16 |
% |
|
30 |
% |
|
9 |
% |
|
23 |
% |
Foreign currency translation impact on reporting |
(1 |
)% |
|
(1 |
)% |
|
— |
% |
|
1 |
% |
Total % change |
15 |
% |
|
29 |
% |
|
9 |
% |
|
24 |
% |
Reconciliation of Segment EBITDA to Net Earnings |
|||||||||||||||
|
Three Months Ended
|
|
Six Months Ended
|
||||||||||||
|
2021 |
|
|
|
2020 |
|
|
|
2021 |
|
|
|
2020 |
|
|
Biologics |
$ |
199 |
|
|
$ |
137 |
|
|
$ |
366 |
|
|
$ |
243 |
|
|
|
147 |
|
|
|
114 |
|
|
|
246 |
|
|
|
198 |
|
Sub-Total |
$ |
346 |
|
|
$ |
251 |
|
|
$ |
612 |
|
|
$ |
441 |
|
Reconciling items to net earnings |
|
|
|
|
|
|
|
||||||||
Unallocated costs |
|
(101 |
) |
|
|
(45 |
) |
|
|
(157 |
) |
|
|
(74 |
) |
Depreciation and amortization |
|
(98 |
) |
|
|
(71 |
) |
|
|
(179 |
) |
|
|
(140 |
) |
Interest expense, net |
|
(32 |
) |
|
|
(26 |
) |
|
|
(58 |
) |
|
|
(51 |
) |
Income tax expense |
|
(18 |
) |
|
|
(21 |
) |
|
|
(28 |
) |
|
|
(5 |
) |
Net earnings |
$ |
97 |
|
|
$ |
88 |
|
|
$ |
190 |
|
|
$ |
171 |
|
Disaggregated Revenue |
|||||||||||
Three Months Ended |
|
|
Biologics |
|
|
|
Total |
||||
Manufacturing & commercial product supply |
|
|
$ |
169 |
|
$ |
359 |
|
$ |
528 |
|
Development services & clinical supply |
|
|
|
472 |
|
|
218 |
|
|
690 |
|
Total |
|
|
$ |
641 |
|
$ |
577 |
|
$ |
1,218 |
|
|
Inter-segment revenue elimination |
|
|
(1 |
) |
||||||
|
|
|
Combined net revenue |
|
$ |
1,217 |
|
Prior Periods Recast for Segment Reorganization (Unaudited; dollars in millions) |
||||||||||
Six Months Ended |
|
Biologics |
|
|
|
Total |
||||
Manufacturing & commercial product supply |
|
$ |
303 |
|
$ |
635 |
|
$ |
938 |
|
Development services & clinical supply |
|
|
886 |
|
|
419 |
|
|
1,305 |
|
Total |
|
$ |
1,189 |
|
$ |
1,054 |
|
$ |
2,243 |
|
|
Inter-segment revenue elimination |
|
(1 |
) |
||||||
|
|
Combined net revenue |
|
$ |
2,242 |
|
Prior Periods Recast for Segment Reorganization (Unaudited; dollars in millions) |
|||||||
Segment information for the three and nine months ended |
|||||||
|
Three Months Ended |
|
Nine Months Ended |
||||
|
|
2022 |
|
|
|
2022 |
|
Biologics |
|
|
|
||||
Net revenue |
$ |
700 |
|
|
$ |
1,889 |
|
Segment EBITDA |
|
218 |
|
|
|
584 |
|
Segment EBITDA margin |
|
31.1 |
% |
|
|
30.9 |
% |
|
|
|
|
||||
Net revenue |
|
572 |
|
|
|
1,626 |
|
Segment EBITDA |
|
144 |
|
|
|
390 |
|
Segment EBITDA margin |
|
25.2 |
% |
|
|
24.0 |
% |
Inter-segment revenue elimination |
|
1 |
|
|
|
— |
|
Unallocated costs |
|
(54 |
) |
|
|
(211 |
) |
Combined totals |
|
|
|
||||
Net revenue |
$ |
1,273 |
|
|
$ |
3,515 |
|
EBITDA from operations |
$ |
308 |
|
|
$ |
763 |
|
Biologics |
|||||||||||
|
2022 vs. 2021 |
|
2022 vs. 2021 |
||||||||
Year-Over-Year Change |
Three Months Ended
|
|
Nine Months Ended
|
||||||||
|
Net Revenue |
|
Segment EBITDA |
|
Net Revenue |
|
Segment EBITDA |
||||
Organic |
30 |
% |
|
22 |
% |
|
43 |
% |
|
40 |
% |
Impact of acquisitions |
— |
% |
|
— |
% |
|
— |
% |
|
(1 |
)% |
Constant-currency change |
30 |
% |
|
22 |
% |
|
43 |
% |
|
39 |
% |
Foreign exchange translation impact on reporting |
(2 |
)% |
|
(2 |
)% |
|
(1 |
)% |
|
(2 |
)% |
Total % change |
28 |
% |
|
20 |
% |
|
42 |
% |
|
37 |
% |
Prior Periods Recast for Segment Reorganization (Unaudited; dollars in millions) |
|||||||||||
|
|||||||||||
|
2022 vs. 2021 |
|
2022 vs. 2021 |
||||||||
Year-Over-Year Change |
Three Months Ended
|
|
Nine Months Ended
|
||||||||
|
Net Revenue |
|
Segment EBITDA |
|
Net Revenue |
|
Segment EBITDA |
||||
Organic |
9 |
% |
|
30 |
% |
|
8 |
% |
|
29 |
% |
Impact of acquisitions |
11 |
% |
|
4 |
% |
|
8 |
% |
|
3 |
% |
Impact of divestitures |
(5 |
)% |
|
(5 |
)% |
|
(5 |
)% |
|
(6 |
)% |
Constant-currency change |
15 |
% |
|
29 |
% |
|
11 |
% |
|
26 |
% |
Foreign currency translation impact on reporting |
(2 |
)% |
|
(3 |
)% |
|
(1 |
)% |
|
(2 |
)% |
Total % change |
13 |
% |
|
26 |
% |
|
10 |
% |
|
24 |
% |
Reconciliation of Segment EBITDA to Net Earnings |
|||||||||||||||
|
Three Months Ended
|
|
Nine Months Ended
|
||||||||||||
|
2022 |
|
|
|
2021 |
|
|
|
2022 |
|
|
|
2021 |
|
|
Biologics |
$ |
218 |
|
|
$ |
182 |
|
|
$ |
584 |
|
|
$ |
425 |
|
|
|
144 |
|
|
|
115 |
|
|
|
390 |
|
|
|
314 |
|
Sub-Total |
$ |
362 |
|
|
$ |
297 |
|
|
$ |
974 |
|
|
$ |
739 |
|
Reconciling items to net earnings |
|
|
|
|
|
|
|
||||||||
Unallocated costs |
|
(54 |
) |
|
|
123 |
|
|
|
(211 |
) |
|
|
49 |
|
Depreciation and amortization |
|
(99 |
) |
|
|
(76 |
) |
|
|
(278 |
) |
|
|
(216 |
) |
Interest expense, net |
|
(33 |
) |
|
|
(27 |
) |
|
|
(91 |
) |
|
|
(78 |
) |
Income tax expense |
|
(35 |
) |
|
|
(85 |
) |
|
|
(63 |
) |
|
|
(91 |
) |
Net earnings |
$ |
141 |
|
|
$ |
232 |
|
|
$ |
331 |
|
|
$ |
403 |
|
Disaggregated Revenue |
||||||||||
Three Months Ended |
|
|
Biologics |
|
|
|
Total |
|||
Manufacturing & commercial product supply |
|
|
$ |
200 |
|
$ |
348 |
|
$ |
548 |
Development services & clinical supply |
|
|
|
500 |
|
|
224 |
|
|
724 |
Total |
|
|
$ |
700 |
|
$ |
572 |
|
$ |
1,272 |
|
Inter-segment revenue elimination |
|
|
1 |
||||||
|
|
|
Combined net revenue |
|
$ |
1,273 |
Prior Periods Recast for Segment Reorganization (Unaudited; dollars in millions) |
||||||||||
Nine Months Ended |
|
|
Biologics |
|
|
|
Total |
|||
Manufacturing & commercial product supply |
|
|
$ |
503 |
|
$ |
983 |
|
$ |
1,486 |
Development services & clinical supply |
|
|
|
1,386 |
|
|
643 |
|
|
2,029 |
Total |
|
|
$ |
1,889 |
|
$ |
1,626 |
|
$ |
3,515 |
|
Inter-segment revenue elimination |
|
|
— |
||||||
|
|
|
Combined net revenue |
|
$ |
3,515 |
Prior Periods Recast for Segment Reorganization (Unaudited; dollars in millions) |
|||
Segment information for the three months ended |
|||
|
Three Months Ended
|
||
Biologics |
|
||
Net revenue |
$ |
671 |
|
Segment EBITDA |
|
220 |
|
Segment EBITDA margin |
|
32.7 |
% |
|
|
||
Net revenue |
|
642 |
|
Segment EBITDA |
|
198 |
|
Segment EBITDA margin |
|
30.8 |
% |
Unallocated costs |
|
(75 |
) |
Combined totals |
|
||
Net revenue |
$ |
1,313 |
|
EBITDA from operations |
$ |
343 |
|
Biologics |
|||||
|
2022 vs. 2021 |
||||
Year-Over-Year Change |
Three Months Ended
|
||||
|
Net Revenue |
|
Segment EBITDA |
||
Organic |
14 |
% |
|
21 |
% |
Impact of acquisitions |
— |
% |
|
(1 |
)% |
Constant-currency change |
14 |
% |
|
20 |
% |
Foreign currency translation impact on reporting |
(3 |
)% |
|
(5 |
)% |
Total % change |
11 |
% |
|
15 |
% |
Prior Periods Recast for Segment Reorganization (Unaudited; dollars in millions) |
|||||
|
|||||
|
2022 vs. 2021 |
||||
Year-Over-Year Change |
Three Months Ended
|
||||
|
Net Revenue |
|
Segment EBITDA |
||
Organic |
7 |
% |
|
8 |
% |
Impact of acquisitions |
9 |
% |
|
7 |
% |
Constant-currency change |
16 |
% |
|
15 |
% |
Foreign currency translation impact on reporting |
(6 |
)% |
|
(8 |
)% |
Total % change |
10 |
% |
|
7 |
% |
Reconciliation of Segment EBITDA to Net Earnings |
|||||||
|
Three Months Ended
|
||||||
|
2022 |
|
|
|
2021 |
|
|
Biologics |
$ |
220 |
|
|
$ |
190 |
|
|
|
198 |
|
|
|
184 |
|
Sub-Total |
$ |
418 |
|
|
$ |
374 |
|
Reconciling items to net earnings |
|
|
|
||||
Unallocated costs |
|
(75 |
) |
|
|
(48 |
) |
Depreciation and amortization |
|
(100 |
) |
|
|
(73 |
) |
Interest expense, net |
|
(32 |
) |
|
|
(32 |
) |
Income tax expense |
|
(23 |
) |
|
|
(39 |
) |
Net earnings |
$ |
188 |
|
|
$ |
182 |
|
Disaggregated Revenue |
|||||||||||
Three Months Ended |
|
|
Biologics |
|
|
|
Total |
||||
Manufacturing & commercial product supply |
|
|
$ |
105 |
|
$ |
406 |
|
$ |
511 |
|
Development services & clinical supply |
|
|
|
566 |
|
|
237 |
|
|
803 |
|
Total |
|
|
$ |
671 |
|
$ |
643 |
|
$ |
1,314 |
|
|
Inter-segment revenue elimination |
|
|
(1 |
) |
||||||
|
|
|
Combined net revenue |
|
$ |
1,313 |
|
Prior Periods Recast for Segment Reorganization (Unaudited; dollars in millions) |
||||||||||||||||||
Segment information for the fiscal year ended |
||||||||||||||||||
(Dollars in millions) |
Fiscal Year Ended
|
|
FX Impact |
|
Constant Currency Increase (Decrease) |
|||||||||||||
|
|
2022 |
|
|
|
2021 |
|
|
|
|
Change $ |
|
Change %(1) |
|||||
Biologics |
|
|
|
|
|
|
|
|
|
|||||||||
Net revenue |
$ |
2,560 |
|
|
$ |
1,938 |
|
|
$ |
(35 |
) |
|
$ |
657 |
|
|
34 |
% |
Segment EBITDA |
|
804 |
|
|
|
615 |
|
|
|
(14 |
) |
|
|
203 |
|
|
33 |
% |
|
|
|
|
|
|
|
|
|
|
|||||||||
Net revenue |
|
2,269 |
|
|
|
2,063 |
|
|
|
(50 |
) |
|
$ |
256 |
|
|
12 |
% |
Segment EBITDA |
|
588 |
|
|
|
498 |
|
|
|
(17 |
) |
|
|
107 |
|
|
22 |
% |
Inter-segment revenue elimination |
|
(1 |
) |
|
|
(3 |
) |
|
|
1 |
|
|
|
1 |
|
|
16 |
% |
Unallocated Costs |
|
(286 |
) |
|
|
1 |
|
|
|
5 |
|
|
|
(292 |
) |
|
* |
|
Combined totals |
|
|
|
|
|
|
|
|
|
|||||||||
Net revenue |
$ |
4,828 |
|
|
$ |
3,998 |
|
|
$ |
(84 |
) |
|
$ |
914 |
|
|
23 |
% |
EBITDA from operations |
$ |
1,106 |
|
|
$ |
1,114 |
|
|
$ |
(26 |
) |
|
$ |
18 |
|
|
2 |
% |
(1) Change % calculations are based on amounts prior to rounding. |
||||||||||||||||||
*Percentage Not meaningful |
Biologics |
|||||
|
2022 vs. 2021 |
||||
Year-Over-Year Change |
Fiscal Year Ended
|
||||
|
Net Revenue |
|
Segment EBITDA |
||
Organic |
34 |
% |
|
34 |
% |
Impact of acquisitions |
— |
% |
|
(1 |
)% |
Constant-currency change |
34 |
% |
|
33 |
% |
Foreign currency translation impact on reporting |
(2 |
)% |
|
(2 |
)% |
Total % change |
32 |
% |
|
31 |
% |
Prior Periods Recast for Segment Reorganization (Unaudited; dollars in millions) |
|||||
|
|||||
|
2022 vs. 2021 |
||||
Year-Over-Year Change |
Fiscal Year Ended
|
||||
|
Net Revenue |
|
Segment EBITDA |
||
Organic |
8 |
% |
|
21 |
% |
Impact of acquisitions |
8 |
% |
|
5 |
% |
Impact of divestitures |
(3 |
)% |
|
(4 |
)% |
Constant-currency change |
13 |
% |
|
22 |
% |
Foreign currency translation impact on reporting |
(3 |
)% |
|
(4 |
)% |
Total % change |
10 |
% |
|
18 |
% |
Reconciliation of Segment EBITDA to Net Earnings |
|||||||||||
|
Fiscal Year Ended
|
||||||||||
|
2022 |
|
|
|
2021 |
|
|
|
2020 |
|
|
Biologics |
$ |
804 |
|
|
$ |
615 |
|
|
$ |
239 |
|
|
|
588 |
|
|
|
498 |
|
|
|
547 |
|
Sub-Total |
$ |
1,392 |
|
|
$ |
1,113 |
|
|
$ |
786 |
|
Reconciling items to net earnings |
|
|
|
|
|
||||||
Unallocated costs |
|
(286 |
) |
|
|
1 |
|
|
|
(146 |
) |
Depreciation and amortization |
|
(378 |
) |
|
|
(289 |
) |
|
|
(254 |
) |
Interest expense, net |
|
(123 |
) |
|
|
(110 |
) |
|
|
(126 |
) |
Income tax expense |
|
(86 |
) |
|
|
(130 |
) |
|
|
(39 |
) |
Net earnings |
$ |
519 |
|
|
$ |
585 |
|
|
$ |
221 |
|
Disaggregated Revenue |
|||||||||||
Fiscal Year Ended |
|
|
Biologics |
|
|
|
Total |
||||
Manufacturing & commercial product supply |
|
|
$ |
608 |
|
$ |
1,389 |
|
$ |
1,997 |
|
Development services & clinical supply |
|
|
|
1,952 |
|
|
880 |
|
|
2,832 |
|
Total |
|
|
$ |
2,560 |
|
$ |
2,269 |
|
$ |
4,829 |
|
|
Inter-segment revenue elimination |
|
|
(1 |
) |
||||||
|
|
|
Combined net revenue |
|
$ |
4,828 |
|
Prior Periods Recast for Segment Reorganization (Unaudited; dollars in millions) |
|||||||||||
Fiscal Year Ended |
|
|
Biologics |
|
|
|
Total |
||||
Manufacturing & commercial product supply |
|
|
$ |
532 |
|
$ |
1,166 |
|
$ |
1,698 |
|
Development services & clinical supply |
|
|
|
1,406 |
|
|
896 |
|
|
2,302 |
|
Total |
|
|
$ |
1,938 |
|
$ |
2,062 |
|
$ |
4,000 |
|
|
Inter-segment revenue elimination |
|
|
(2 |
) |
||||||
|
|
|
Combined net revenue |
|
$ |
3,998 |
|
Fiscal Year Ended |
|
|
Biologics |
|
|
|
Total |
||||
Manufacturing & commercial product supply |
|
|
$ |
333 |
|
$ |
1,188 |
|
$ |
1,521 |
|
Development services & clinical supply |
|
|
|
698 |
|
|
876 |
|
|
1,574 |
|
Total |
|
|
$ |
1,031 |
|
$ |
2,064 |
|
$ |
3,095 |
|
|
Inter-segment revenue elimination |
|
|
(1 |
) |
||||||
|
|
|
Combined net revenue |
|
$ |
3,094 |
|
Segment Net Revenue as a % of Total Net Revenue |
||||||||||||||
|
Three Months Ended |
|||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||
Biologics |
51 |
% |
|
55 |
% |
|
53 |
% |
|
53 |
% |
|
51 |
% |
|
49 |
% |
|
45 |
% |
|
47 |
% |
|
47 |
% |
|
49 |
% |
Net Revenue |
100 |
% |
|
100 |
% |
|
100 |
% |
|
100 |
% |
|
100 |
% |
Total Assets |
|||||
|
|
|
|
||
Biologics |
$ |
5,770 |
|
$ |
5,009 |
|
|
4,355 |
|
|
3,320 |
Corporate and eliminations |
|
382 |
|
|
783 |
Total assets |
$ |
10,507 |
|
$ |
9,112 |
Prior Periods Recast for Segment Reorganization (Unaudited; dollars in millions) |
||||||||
Capital Expenditures |
||||||||
|
Fiscal Year Ended |
|||||||
|
|
2022 |
|
|
2021 |
|
|
2020 |
Biologics |
$ |
453 |
|
$ |
516 |
|
$ |
330 |
|
|
183 |
|
|
151 |
|
|
119 |
Corporate |
|
30 |
|
|
19 |
|
|
17 |
Total capital expenditures |
$ |
666 |
|
$ |
686 |
|
$ |
466 |
View source version on businesswire.com: https://www.businesswire.com/news/home/20221101005209/en/
Investor Contact:
732-537-6325
investors@catalent.com
Source:
FAQ
What were Catalent's Q1'23 financial results?
What guidance has Catalent provided for FY'23?
How did the acquisition of Metrics Contract Services impact Catalent?