NEOGEN CORPORATION Reports FY2023 Q4 Earnings Results as of May 31 2023
August 13, 2023
🌥️Earnings Overview
On July 27 2023, NEOGEN CORPORATION ($NASDAQ:NEOG) announced their financial results for the fourth quarter of their fiscal year 2023, based on data as of May 31 2023. Overall, total revenue had significantly increased by 72.6% compared to the same period in the previous year, amounting to USD 241.8 million. Nevertheless, net income had declined by 62.8% year-over-year, reaching USD 5.6 million.
Price History
NEOGEN CORPORATION reported their fourth quarter earnings report for the fiscal year ending May 31 2023 on Thursday. The stock opened at $23.1 but closed at $22.2, a decrease of 1.5% from the previous closing price of $22.6. Overall, the report highlighted a strong financial performance for NEOGEN CORPORATION in the fourth quarter.
NEOGEN CORPORATION’s management team stated they were satisfied with their overall results for the quarter and noted that despite some challenges in the global economy, they continue to see positive growth and solid financial performance for the company. They also announced plans to expand operations into new markets and are confident that their strategy will help them achieve long-term success. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Neogen Corporation. More…
| Total Revenues | Net Income | Net Margin |
| 822.45 | -22.87 | -2.8% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Neogen Corporation. More…
| Operations | Investing | Financing |
| -29.55 | -97.23 | 6.81 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Neogen Corporation. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 4.55k | 1.42k | 14.49 |
Key Ratios Snapshot
Some of the financial key ratios for Neogen Corporation are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 25.3% | -17.8% | 4.6% |
| FCF Margin | ROE | ROA |
| -10.0% | 0.7% | 0.5% |
Analysis
At GoodWhale, we conducted an analysis of NEOGEN CORPORATION‘s wellbeing. Our Star Chart revealed that NEOGEN CORPORATION has a high health score of 7/10 with regard to its cashflows and debt, giving it the capability to safely ride out any crisis without the risk of bankruptcy. In more detail, NEOGEN CORPORATION is strong in growth, medium in profitability and weak in asset and dividend. Based on these figures, we have classified NEOGEN CORPORATION as ‘cheetah’, a type of company that has achieved high revenue or earnings growth but is considered less stable due to lower profitability. These types of companies may be of particular interest to investors who are seeking higher returns, as NEOGEN CORPORATION has the potential to offer above-average returns. However, these investors should bear in mind that there is increased risk associated with these types of companies. More…
Peers
The company’s Food Safety Division offers a complete line of diagnostic test kits, reagents, and equipment used by food producers and processors to test for the presence of foodborne pathogens, natural toxins, food allergens, genetic modifications, and other contaminants in food. The Animal Safety Division provides a comprehensive array of products to detect and remove foodborne pathogens from animals before they enter the food supply as well as products to identify and remove disease-causing organisms from animal feed and the environment. The company’s competitors include Mettler-Toledo International Inc, Agilent Technologies Inc, Beijing Scitop Bio-tech Co Ltd.
– Mettler-Toledo International Inc ($NYSE:MTD)
Mettler-Toledo International Inc is a manufacturer and marketer of precision instruments for use in laboratory, industrial and food retailing applications. The company has a market capitalization of 26.43 billion as of 2022 and a return on equity of 1430.18%. The company’s products are used in a variety of applications, including the weighing and measuring of ingredients in the food industry, the weighing of packages in the shipping industry and the measuring of chemicals and other substances in the laboratory.
– Agilent Technologies Inc ($NYSE:A)
Agilent Technologies Inc, a global technology leader, has a market cap of 38.45B as of 2022. The company’s return on equity is 19.27%. Agilent Technologies Inc focuses on providing life science, diagnostic and applied market laboratories worldwide with instruments, services, consumables, applications and expertise. The company serves customers in life sciences, diagnostics and applied markets.
– Beijing Scitop Bio-tech Co Ltd ($SZSE:300858)
Beijing Scitop Bio-tech Co Ltd has a market cap of 3.67B as of 2022, a Return on Equity of 8.1%. The company is engaged in the business of researching, developing, manufacturing and selling pharmaceutical and medical products. Its products include traditional Chinese medicine, Western medicine, health food and cosmetics. The company has a strong research and development team and a comprehensive product portfolio. It has a wide range of products and a strong market presence in China.
Summary
NEOGEN CORPORATION‘s FY2023 Q4 financial report reveals a strong rise in revenue, up 72.6% year-over-year. This was offset by a 62.8% decrease in net income for the same period, with total income of USD 5.6 million. Despite the unfavorable outcome, the company’s strong revenue growth indicates potential for investors.
NEOGEN CORPORATION has seen steady improvement in its operations and could be an attractive option for risk-tolerant investors looking to capitalize on the company’s upward trajectory. With the company’s aggressive growth strategy, investors can anticipate further expansion and potential dividend payouts in the future.
