The raised FY2027 guidance and accelerating core growth (8.1%) validate the operational turnaround narrative. Watch for the Petrifilm manufacturing transition in November 2026 and the closing of the Genomics sale to Zoetis, which would provide ~$140M net proceeds for debt reduction.
Price Chart
Executive Summary
Neogen reported Q1 FY2027 revenue of $222.8M (+6.5% YoY, +8.1% core growth), beating the $208.2M consensus, but GAAP EPS of -$0.05 missed the $0.05 consensus due to non-cash items. The company raised FY2027 revenue guidance to $885-890M and Adjusted EBITDA to $181-183M, signaling improving operational momentum. The stock should react positively to the top-line beat and raised guidance, though GAAP losses persist.
Key Financial Metrics
Key Facts
- Revenue of $222.8M, +6.5% YoY, +8.1% core growth, above $208.2M consensus
- GAAP EPS of -$0.05 vs consensus $0.05 (miss due to non-cash items); Adjusted EPS $0.08 vs $0.04 YoY
- Food Safety revenue $163.2M (+7.4% YoY, +8.1% core); Animal Safety $59.6M (+4.2% YoY, +8.0% core)
- Adjusted EBITDA $41.6M (18.7% margin) vs $35.5M (17.0%) YoY
- FY2027 guidance raised: revenue $885-890M (prev. $880-885M), Adj. EBITDA $181-183M (prev. $180-182M)
- Operating cash flow $12.9M, free cash flow $4.7M
- Petrifilm manufacturing transition on track; first SKU fully validated in August 2026
- Genomics sale to Zoetis expected to close by end of December 2026
Financial Impact
Revenue beat consensus by ~$14.6M (7.0%); guidance raised by $5M at midpoint
Risk Factors
- GAAP net loss persists at -$11.9M; heavy amortization and transformation costs weigh on reported earnings
- Genomics sale regulatory reviews (ACCC/NZCC) could delay or alter terms
- Petrifilm manufacturing transition carries execution risk; duplicate costs of $4.7M in the quarter
- Core growth includes ~3% benefit from inventory adjustments and order timing, which may not recur
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-415544 |
| Document: neog-20261006.htm | 0001193125-26-415544 |
| Document: 0001193125-26-415544-index-headers.html | 0001193125-26-415544 |
| Document: 0001193125-26-415544-index.html | 0001193125-26-415544 |
| Document: 0001193125-26-415544.txt | 0001193125-26-415544 |
| 8-K Data (Synthetic) | 0001193125-26-415544 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 26, 2026 today | 8-K/A | $12.16 | awaiting T+5 | — | $12.21 (+0.41%) |
Oct 6, 2026 20d ago | 8-K | $11.68 $12.13 | ▲ +3.85% | ▲ +4.83% | $12.21 (+4.54%) |
Sep 28, 2026 28d ago | DEFA14A | $13.72 $13.01 | ▼ −5.17% | ▼ −6.38% | $12.21 (−11.01%) |
Aug 21, 2026 9w ago | DEFA14A | $11.95 $11.66 | ▼ −2.43% | ▼ −2.90% | $12.21 (+2.18%) |
Aug 7, 2026 11w ago | 8-K | $11.40 $11.87 | ▲ +4.12% | ▲ +4.17% | $12.21 (+7.11%) |
Jul 30, 2026 12w ago | 8-K | $11.53 $11.30 | ▼ −1.99% | ▼ −5.62% | $12.21 (+5.90%) |
Apr 20, 2026 27w ago | 8-K | $9.63 $9.45 | ▼ −1.87% | ▼ −2.78% | $12.21 (+26.79%) |
Apr 9, 2026 28w ago | 8-K | $10.04 $9.24 | ▼ −7.97% | ▼ −11.15% | $12.21 (+21.61%) |
US Market Status
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