Neogen (NEOG) Fiscal Q1 2027 Earnings Call: Guidance Raised on 8.1% Core Growth
Source Tradingkey
Key Takeaways
- Neogen reported fiscal Q1 2027 revenue of $222.8 million, with 8.1% core growth. Order timing and an easier comparison related to prior-year distributor inventory adjustments contributed approximately 300 basis points to core growth.
- Food Safety revenue reached $163.2 million, up 8.1% on a core basis, while Animal Safety revenue was $59.6 million, also up 8.0% on a core basis.
- Adjusted EBITDA increased to $41.6 million, representing an 18.7% margin and 170 basis points of year-over-year expansion.
- Free cash flow improved by approximately $18 million year over year to $4.7 million, supported by higher operating cash flow and lower capital expenditure.
- Management raised fiscal 2027 revenue guidance to $885 million-$890 million and adjusted EBITDA guidance to $181 million-$183 million.
- The first Petrifilm SKU completed full validation. Neogen expects the planned multi-quarter manufacturing transfer to begin next month.
Core Financial Results
| Metric | Fiscal Q1 2027 | Change or context |
|---|---|---|
| Revenue | $222.8 million | 8.1% core growth |
| Food Safety revenue | $163.2 million | 8.1% core growth |
| Animal Safety revenue | $59.6 million | 8.0% core growth |
| Gross margin | 47.4% | GAAP |
| Adjusted gross margin | 49.8% | Up 30 basis points year over year |
| Adjusted EBITDA | $41.6 million | 18.7% margin; up 170 basis points |
| Adjusted net income | $17.5 million | — |
| Adjusted EPS | $0.08 | — |
| Free cash flow | $4.7 million | Approximately $18 million higher year over year |
| Debt | Approximately $774 million | Quarter-end balance |
| Cash | $172 million | Quarter-end balance |
Business and Operating Performance
Disclaimer: For information purposes only. Past performance is not indicative of future results.
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