Neogen Corp. (NEOG) reported on Friday a net loss for the second quarter that sharply widened to $456.28 million or $2.10 per share from $3.49 million or $0.02 per share in the prior-year quarter, hurt by a non-cash goodwill impairment charge related primarily to the acquisition of the former 3M Food Safety Division.
Excluding items, adjusted earnings were $0.11 per share, compared to $0.11 per share in the year-ago quarter.
On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.10 per share for the quarter. Analysts' estimates typically exclude special items.
Total revenue for the quarter edged up 0.7 percent to $231.26 million from $229.63 million in the same quarter last year. Analysts expected revenues of $228.07 million for the quarter. Core revenue increased 3.5 percent.
Looking ahead to fiscal 2025, the company now projects revenues between $905 million and $925 million, down from the prior forecast between $925 million and $955 million. The Street is looking for revenues of $935.70 million for the quarter.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.