Neogen Corporation
6.23+0.07 (+1.14%)
Oct 29, 4:00:00 PM EDT · NasdaqGS · NEOG · USD
Key Stats
Market Cap
1.35BP/E (TTM)
-Basic EPS (TTM)
-4.80Dividend Yield
0%Recent Filings
8-K
Neogen Q1 revenue dips 3.6%
Neogen Corporation reported Q1 fiscal 2026 revenue of $209.2 million, down 3.6% year-over-year, with core revenue up a modest 0.3% amid divestiture headwinds. A $76.4 million gain from selling its Cleaners & Disinfectants business boosted net income to $36.3 million, while adjusted net income fell to $9.4 million; the company repaid $100 million in debt and welcomed Mike Nassif as CEO on August 11. Late-September restructuring trimmed costs to sharpen focus on food and animal safety. Neogen reaffirms full-year revenue of $820–$840 million and adjusted EBITDA of $165–$175 million. Execution challenges persist.
10-Q
Q1 FY2026 results
Neogen's Q1 FY2026 revenues dipped 3.6% y/y to $209.2M, pressured by the Cleaners & Disinfectants divestiture, yet core growth edged up 0.3% amid strength in pathogen detection and genomics services. Gross margin slipped to 45.4% from 48.4%, hit by production inefficiencies in sample collection and tariff costs, while operating loss widened to $16.1M from a $2.3M profit, driven by higher G&A from transformation initiatives. The $76.4M gain on the July 2025 divestiture flipped net results to $36.3M profit ($0.17 diluted EPS), confirmed against 217.3M shares with no anti-dilution flagged. Cash climbed to $138.9M, bolstered by $10.9M operating cash flow, while debt fell to $800M after $100M repayments using sale proceeds; revolver availability stands at $201.5M with covenants met. Free cash flow hit $ -13.1M (derived). Ongoing shareholder litigation over 3M integration poses risks.
8-K
Neogen CFO Naemura to resign
Neogen Corporation announced on September 15, 2025, that CFO and COO David Naemura intends to resign, effective between October and December 31, 2025, to pursue other opportunities—no disagreements with company operations noted. He'll assist in onboarding his successor, with a transition agreement offering 50% of his target annual bonus if he stays through year-end. The company has engaged an executive search firm; Jim Walter will oversee global procurement. This shift brings fresh perspective to strategic growth amid food safety opportunities.
8-K
Neogen grants PSUs to executives
Neogen Corporation granted performance share units (PSUs) and stock options to its top executives on August 15, 2025, shifting long-term incentives to better align with strategic goals and market performance. CEO Mikhael Nassif received 414,365 target PSUs and options for 1,065,042 shares at $5.43 strike, while CFO/COO David Naemura and CLCO Amy Rocklin got 230,203 and 119,705 PSUs, plus respective options for 591,690 and 307,680 shares. PSUs vest over fiscal 2026-2028 based on revenue CAGR, adjusted EBITDA margin, and cash flow conversion, modified by relative TSR versus S&P 600 peers. This ties pay to sustained execution.
8-K
Neogen board refresh
Neogen Corporation announced the retirement of board director William T. Boehm, effective October 23, 2025, after serving since 2011 as Audit Committee chair. The board appointed diagnostics veteran Avi Pelossof, effective October 24, 2025, bringing over 25 years of experience, including leading Immucor's turnaround and building Alere's $750 million infectious disease portfolio. This transition bolsters Neogen's expertise in food safety and diagnostics amid ongoing growth. Pelossof joins without prior arrangements.
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