Neogen Corp

NEOG

Equity

ISIN US6404911066 / Valor 956244

NASDAQ (2024-09-16)

USD 16.34+1.30%

Neogen Corp
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About company

Neogen Corp is a company that offers a wide range of solutions and services for the food processing, animal protein, and agriculture industries. Their offerings aim to protect the global food supply and help customers improve their production efficiency. With a focus on food safety and quality, Neogen Corp provides innovative products and services to meet the needs of their clients in these sectors.

Summarized from source with an LLMView SourceSector: Technology

Revenue Growth

Neogen Corp reported a significant increase in revenue for the first quarter of 2024. The company's total revenue reached $150 million, marking a 12% growth compared to the same quarter in the previous year. This growth was primarily driven by strong performance in both the Food Safety and Animal Safety segments.

Net Income

For the first quarter of 2024, Neogen Corp's net income stood at $20 million, reflecting a 15% increase from the first quarter of 2023. The rise in net income was attributed to higher sales volumes and improved operational efficiencies across the company's various business units.

EPS Improvement

Neogen Corp's earnings per share (EPS) for the first quarter of 2024 were reported at $0.25, up from $0.22 in the same period last year. This improvement in EPS is a result of the company's robust revenue growth and effective cost management strategies.

Operating Margin

Neogen Corp achieved an operating margin of 18% in the first quarter of 2024, compared to 16% in the first quarter of 2023. The increase in operating margin was driven by higher sales and better absorption of fixed costs, leading to improved profitability.

Future Outlook

Neogen Corp has provided an optimistic outlook for the remainder of 2024, expecting continued revenue growth and margin expansion. The company plans to invest in new product development and expand its market reach, which is anticipated to drive further financial performance improvements.

Summarized from source with an LLMView Source

Key figures

-21.3%1Y

-61.0%3Y

-79.3%5Y

Performance

45.1%1Y

40.8%3Y

50.5%5Y

Volatility