Quarterly ResultApr 9, 2026, 07:06 AM
Neogen Reports Q3 FY2026 Revenue of $211.2M, GAAP EPS of $(0.08) Amidst Animal Safety Supplier Challenges
AI Summary
Neogen Corporation announced its third-quarter fiscal year 2026 results, reporting $211.2 million in revenue and a GAAP net loss of $17.0 million, or $(0.08) per share. While Food Safety revenue saw a 2.6% increase, the Animal Safety segment experienced a significant 20.1% decline, primarily attributed to third-party supplier challenges during the quarter. Despite the GAAP loss, the company achieved an Adjusted Net Income of $19.4 million and Adjusted EPS of $0.09, alongside a sequential improvement in Adjusted EBITDA margins to 22.8%. The company also generated $22.7 million in cash flow from operations, indicating underlying operational strength despite segment-specific headwinds.
Key Highlights
- Fiscal third quarter 2026 revenue reached $211.2 million.
- Reported a GAAP net loss of $17.0 million, resulting in GAAP EPS of $(0.08).
- Adjusted Net Income was $19.4 million, with Adjusted EPS of $0.09.
- Food Safety revenue grew 2.6% (4.0% Core Growth), while Animal Safety revenue declined 20.1% (8.7% Core Growth) due to third-party supplier challenges.
- Adjusted EBITDA was $48.2 million, with Adjusted EBITDA margins improving sequentially by 110 basis points to 22.8%.
- Generated $22.7 million in cash flow from operations and $11.1 million in free cash flow.
- The Petrifilm® manufacturing transition remains on track for November FY27.