The strong EPS beat and accelerating core revenue growth (4.3%) are positive signals, but the top-line remains flat and Animal Safety challenges persist. Monitor the Petrifilm validation milestone (August 2026) and the genomics sale closure (expected H1 FY2027) as catalysts. The FY2027 guidance implies modest acceleration—revenue growth of ~1–2% reported, ~3% core—but the stock may need to see sustained core growth above 5% to re-rate.
Price Chart
Executive Summary
Neogen reported Q4 FY2026 adjusted EPS of $0.09, sharply beating the $0.03 consensus, but revenue was essentially flat at $225.3M (-0.1% YoY). Core revenue grew 4.3% (Food Safety core +5.8%), while Animal Safety remained weak. FY2027 guidance implies modest growth, with revenue of $880-885M and adjusted EBITDA of $180-182M. The earnings beat is driven by cost savings rather than top-line expansion, and the genomics divestiture faces regulatory hurdles.
Key Financial Metrics
Key Facts
- Q4 revenue $225.3M, -0.1% YoY; core revenue +4.3%
- Adjusted EPS $0.09 vs consensus $0.03 (+200% beat)
- GAAP net loss $11.3M ($0.05 loss per share)
- Adjusted EBITDA $45.4M (20.2% margin), up from $40.6M (18.0%) YoY
- FY2026 full-year revenue $870.4M, -2.7% YoY; core growth +1.9%
- FY2027 guidance: revenue $880-885M, adjusted EBITDA $180-182M
- Genomics divestiture to Zoetis for $160M faces second-phase regulatory review in Australia and New Zealand
- Petrifilm manufacturing transition on track; first validated SKU expected by end of August 2026
- Operating cash flow $30.2M in Q4, free cash flow $26.2M
Financial Impact
Adjusted EPS beat of $0.06 (200%) vs consensus, but revenue flat. Cost savings boosted margins; adjusted gross margin 49.7% vs 46.4% YoY.
Risk Factors
- Animal Safety segment continues to decline (down 8.2% in Q4, though sequentially improved)
- Genomics divestiture may be delayed or modified by regulatory reviews in Australia/New Zealand
- Petrifilm manufacturing transition could face delays or cost overruns
- Macro headwinds from tariffs and currency could pressure margins
- Identified material weaknesses in internal controls over financial reporting
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-324860 |
| Document: neog-20260730.htm | 0001193125-26-324860 |
| Document: 0001193125-26-324860-index-headers.html | 0001193125-26-324860 |
| Document: 0001193125-26-324860-index.html | 0001193125-26-324860 |
| Document: 0001193125-26-324860.txt | 0001193125-26-324860 |
| 8-K Data (Synthetic) | 0001193125-26-324860 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 21, 2026 6w ago | DEFA14A | $11.95 $13.61 | ▲ +13.89% | ▲ +14.42% | $12.15 (+1.67%) |
Aug 7, 2026 8w ago | 8-K | $11.40 $11.89 | ▲ +4.25% | ▲ +5.17% | $12.15 (+6.58%) |
Jul 30, 2026 9w ago | 8-K | $11.53 $11.74 | ▲ +1.82% | ▼ −2.14% | $12.15 (+5.38%) |
Apr 20, 2026 23w ago | 8-K | $9.63 $8.56 | ▼ −11.11% | ▼ −15.31% | $12.15 (+26.17%) |
Apr 9, 2026 25w ago | 8-K | $10.04 $9.18 | ▼ −8.57% | ▼ −16.13% | $12.15 (+21.02%) |
US Market Status
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