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 launched Igenity BCHF, a groundbreaking genomic test designed to assess the genetic risk of Bovine Congestive Heart Failure (BCHF) in cattle. The test provides a 1-to-10 scoring system, where 1 indicates the lowest risk and 10 the highest risk of disease development, with each score decrease representing approximately 3.5% lower expected incidence rate.
The innovative test aims to help producers manage BCHF risk within their herds, produce lower-risk feeder calves, and reduce economic losses. BCHF is identified as a significant threat affecting both young calves on pasture and late-fed cattle. According to Dr. Victor Pedrosa, Director of Technical Genomics and Innovation, the test results indicate the percentage of BCHF risk an animal might pass to its progeny.
Neogen (NASDAQ: NEOG) has launched a new quantitative Salmonella molecular detection assay, MDA2QSAL96. This innovative product combines qualitative pathogen testing with Quantitative Rapid Enrichment Dehydrated (QRED) media, specifically designed for poultry producers to verify intervention effectiveness.
The new assay offers enhanced consistency and sensitivity for poultry rinses and ground poultry meat testing, featuring an efficient workflow that optimizes time and resources. It joins Neogen's suite of next-generation assays on their Molecular Detection System platform, which utilizes isothermal DNA amplification and bioluminescence detection technology.
Notably, the USDA Food Safety and Inspection Service has designated Neogen's Molecular Detection System as the primary method for detecting various pathogens, including Salmonella, Listeria monocytogenes, and Listeria spp. The system is currently utilized in over 40 countries by food processors, universities, governments, and testing laboratories.
Neogen (NEOG) reported preliminary Q2 2025 results with revenue of $231.3 million, up 0.7% year-over-year. The company posted a net loss of $456.3 million ($(2.10) per share), primarily due to a non-cash goodwill impairment charge related to the former 3M Food Safety Division acquisition. Adjusted Net Income was $24.4 million ($0.11 per share).
The Food Safety segment revenue decreased 0.1% to $164.2 million, while Animal Safety segment revenue increased 2.8% to $67.0 million. Core revenue growth was 3.5%, excluding currency impacts and acquisitions. The company updated its full-year guidance, now expecting revenue between $905-925 million and Adjusted EBITDA of $205-215 million, citing U.S. dollar strengthening and operational challenges.
The company identified material weaknesses in internal controls and expects to file its Form 10-Q by January 15, 2025.
Neogen (NASDAQ: NEOG) has announced its participation in two major upcoming investor conferences in January 2025. The company will first attend the CJS Securities 25th Annual Investor Conference, which will be held virtually on January 14, 2025.
Following this, John Adent, Neogen's President and CEO, will deliver a presentation at the 43rd Annual J.P. Morgan Healthcare Conference in San Francisco on January 15, 2025, at 3:45 PM PT. Investors can access the webcast and presentation materials for the J.P. Morgan Healthcare Conference through the Events & Presentations section of Neogen's Investor Relations website.
Neogen (NASDAQ: NEOG) has announced a change to its second-quarter earnings release date due to U.S. equity markets being closed for the National Day of Mourning for former U.S. President Jimmy Carter. The company will now release its second-quarter earnings before market opening on Friday, January 10, 2025.
Company executives will host a webcast and conference call at 8:00 a.m. Eastern time to discuss the financial results. The call can be accessed via phone at (800) 836-8184 (U.S.) or +1 (646) 357-8785 (international). A replay will be available after the call through Neogen's Investor Relations website.
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.
FAQ
What is the current stock price of Neogen (NEOG)?
What is the market cap of Neogen (NEOG)?
What does Neogen Corporation do?
Where is Neogen Corporation headquartered?
What are the primary business segments of Neogen?
What recent achievements has Neogen Corporation made?
How does Neogen Corporation contribute to global food security?
What percentage of Neogen's revenues come from international markets?
What financial results did Neogen report for Q2 2023?
What products are included in Neogen's Food Safety segment?
What is Neogen's latest product in pathogen detection?
What are Neogen's future growth prospects?
