Welcome to our dedicated page for Neogen news (Ticker: NEOG), a resource for investors and traders seeking the latest updates and insights on Neogen stock.
Headquartered in Lansing, Michigan, Neogen Corporation (NASDAQ: NEOG) is a prominent player in the global food and animal safety sectors. The company develops, manufactures, and markets comprehensive solutions designed to ensure the safety and quality of food and animal products. Neogen’s vast portfolio serves a range of industries, including food processors, veterinary services, and agricultural businesses, spanning over 140 countries worldwide.
Neogen’s operations are divided into two primary segments: Food Safety and Animal Safety. The Food Safety division, which accounts for approximately 70% of the company’s post-merger sales, includes diagnostic test kits, dehydrated culture media, and other tools used to detect pathogens, allergens, drug residues, and sanitization issues in food and feed processing. In the Animal Safety segment, contributing 20% of post-merger sales, Neogen markets veterinary instruments, pharmaceuticals, disinfectants, and genomics testing for various animals, including cattle, horses, and dogs.
Neogen has robust sales in the United States, which account for 60% of its total revenue, while international markets such as Canada, Europe, Asia, and Latin America make up the remaining 40%. The company's financial stability is underscored by its innovative product lines and strategic global partnerships, promoting long-term growth and market penetration.
Recently, Neogen has made significant strides in integrating the former 3M Food Safety business. The integration process, which includes the exit of transition service agreements and the incorporation of new product lines, is progressing well. In Q2 2023, Neogen reported revenues of $229.6 million, with a slight decline compared to the previous year, primarily due to transitional costs and market conditions. However, the company has shown resilience with core growth in its Food Safety segment, particularly in Asia, and easing destocking issues in its Animal Safety segment.
Neogen’s latest ventures include the launch of Neogen® Farm Fluid MAX, a dual-action disinfectant designed for challenging farm conditions, and the Neogen Molecular Detection Assay 2 – Salmonella Enteritidis/Salmonella Typhimurium, which provides rapid pathogen detection in poultry samples. The company also announced a strategic genomics partnership with Performance Food Group to enhance food traceability and quality assurance.
With a commitment to innovation and quality, Neogen Corporation continues to drive advancements in food and animal safety, contributing to global food security and public health. For investors and stakeholders, Neogen remains a reliable entity, navigating market challenges with strategic foresight and technological prowess.
Neogen (NASDAQ: NEOG) has announced it will release its second-quarter earnings before market opening on Thursday, January 9, 2025. The company will host a webcast and conference call at 8:00 a.m. Eastern time to discuss the financial results. Investors can access the call via phone at (800) 836-8184 (U.S.) or +1 (646) 357-8785 (international). A live webcast will be available through Neogen's Investor Relations webpage. A replay of both the call and webcast will be accessible afterward using specific dial-in numbers and entry code 39384#.
Neogen (NASDAQ: NEOG) has launched the Petrifilm Bacillus cereus Count Plate, a new food safety testing solution. The innovative product provides a simplified method for detecting Bacillus cereus bacteria, delivering results in as few as 20 hours. The ready-to-use plate tests for the entire sensu lato groups, including B. cytotoxicus, while eliminating traditional agar method prep work.
The product enhances Neogen's established Petrifilm line, which has been trusted in microbial testing for over 40 years. This launch aims to address critical food safety needs with improved efficiency and reliability in laboratory testing protocols.
Neogen (NASDAQ: NEOG) has announced its participation in the 36th Annual Piper Sandler Healthcare Conference in New York City. The event will take place on Wednesday, December 4, 2024, featuring a presentation by John Adent, Neogen's President and CEO, at 11:00 a.m. Eastern Time. The presentation and webcast materials will be accessible through the Events & Presentations section of Neogen's Investor Relations website.
Neogen (NASDAQ: NEOG) has announced its participation in the 2024 UBS Global Healthcare Conference. The event will take place on Tuesday, November 12, in Rancho Palos Verdes, California. This participation represents an opportunity for Neogen to engage with healthcare industry stakeholders and investors at a significant industry event.
Neogen (NASDAQ: NEOG) announced its first-quarter results for fiscal year 2025, ending August 31, 2024. The company reported revenue of $217.0 million, a 5.3% decrease from the previous year. Neogen experienced a net loss of $12.6 million, or $(0.06) per diluted share, compared to a net income of $1.5 million in the prior year. Adjusted Net Income was $14.4 million, or $0.07 per diluted share, while Adjusted EBITDA reached $43.7 million.
The Food Safety segment saw a 4.2% decrease in revenue to $159.3 million, while the Animal Safety segment experienced an 8.1% decline to $57.6 million. Despite challenges, Neogen is maintaining its full-year guidance, expecting revenue between $925 million and $955 million, with Adjusted EBITDA ranging from $215 million to $235 million.
Neogen (NASDAQ: NEOG) has announced the appointment of Thierry Bernard as a new director to its Board, effective November 1, 2024. Bernard, the current CEO of QIAGEN N.V., brings extensive experience in science and technologies relevant to Neogen's markets. Jim Borel, Neogen's Board Chair, expressed confidence that Bernard's expertise will provide significant value during the company's continued growth.
Bernard has been CEO of QIAGEN since March 2020, after joining the company in 2015. His prior experience includes 15 years at bioMérieux SA, where he held various senior roles, including Corporate Vice President of Global Commercial Operations, Investor Relations, and the Greater China Region. This appointment aligns with Neogen's commitment to enhancing global food security.
Neogen (NASDAQ: NEOG) has announced the release date for its first-quarter earnings report. The company will issue the report before the market opens on Thursday, October 10, 2024. Following the release, Neogen executives will host a webcast and conference call at 8:00 a.m. Eastern time to discuss the financial results.
Investors can access the conference call by dialing (800) 836-8184 (U.S.) or +1 (646) 357-8785 (international) and requesting the Neogen First Quarter 2025 Earnings Call. A live webcast will also be available through Neogen's Investor Relations webpage. A replay of both the call and webcast will be accessible shortly after the event concludes.
Neogen (NASDAQ: NEOG) has announced its participation in the 2024 Wells Fargo Healthcare Conference in Boston, Massachusetts. The event is scheduled for Thursday, September 5, with David Naemura, Neogen's Chief Financial Officer, set to present at 3:00 PM Eastern Time.
Investors and interested parties can access the webcast and presentation materials through the Events & Presentations section of Neogen's Investor Relations website. This conference provides an opportunity for Neogen to showcase its developments and strategies in the healthcare sector to a wider audience of industry professionals and potential investors.
Neogen (NASDAQ: NEOG) has announced a sponsorship agreement with US Equestrian to enhance equine care solutions. The partnership will focus on developing educational materials about equine botulism, a deadly neuromuscular disease affecting horses. Neogen, known for producing BotVax® B, the only USDA-approved vaccine for botulism Type B in horses, will collaborate with US Equestrian to create resources on prevention techniques and treatment protocols.
The initiative aims to raise awareness about the silent killer that can be found in hay, feed, and soil. US Equestrian members will have access to these free resources in fall 2024, coinciding with vaccination season. This partnership underscores Neogen's 30-year commitment to the equestrian community and aligns with US Equestrian's goal of providing quality resources for horse care.
Neogen (NASDAQ: NEOG) announced its fourth-quarter 2024 results, reporting revenue of $236.8 million, a 2.1% decrease from the prior year. The company reported a net loss of $5.4 million, or $(0.02) per diluted share, compared to net income of $5.6 million in the prior-year period. Adjusted Net Income was $22.4 million, or $0.10 per diluted share.
For the full fiscal year 2024, Neogen reported revenue of $924.2 million, a 12.4% increase from the previous year. The company's Adjusted EBITDA for the fourth quarter was $53.0 million, representing a margin of 22.4%. Neogen's CEO, John Adent, noted progress in integration efforts and improvement in order fulfillment rates, despite soft end-market conditions.
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