Recently, Neogen Corporation (NEOG) disclosed its fiscal 2024 second-quarter earnings, unveiling sales of $229.63 million, a marginal year-over-year dip. Moreover, its adjusted EBITDA declined 14% from the year-ago value to $55.10 million, while adjusted EPS was $0.11, down 27.7% year-over-year.
Furthermore, the company’s adjusted net income decreased 20.7% from the prior year’s period to $24.86 million. Due to this perspective, coupled with additional challenges arising from the strategic realignment of the Genomics business, the company has adjusted its fiscal 2024 revenue forecast to $935 million-$955 million.
