LANSING, Mich., May 30, 2024 /PRNewswire/ -- Neogen® Corporation (NASDAQ: NEOG), an innovative leader in food safety solutions, announced today that the Company will participate in the 44th Annual William Blair Growth Stock Conference in Chicago, Illinois, on Tuesday, June 4, 2024. John Adent, Neogen's President and Chief Executive Officer, will present at 8:00 a.m. Central Time. Presentation materials will be posted to the Neogen Investor Relations website on the morning of June 4. To access them, along wi ...

Neogen's (NEOG) vast international trade continues to be impacted by global macroeconomic issues. Also, a tough competitive landscape weighs on the stock. Neogen currently carries a Zacks Rank #4 (Sell).Neogen’s business continues to be impacted by the ongoing complex geopolitical situation globally, which is driving a higher-than-anticipated increase in expenses in terms of raw materials and freight. It is also likely to have broader economic impacts and security concerns, affecting the company’s business ...

LANSING, Mich., May 8, 2024 /PRNewswire/ -- Neogen Corporation (NASDAQ: NEOG) announced today that the Company will participate in the Bank of America 2024 Health Care Conference in Las Vegas, Nevada, on Wednesday, May 15, 2024. About Neogen Neogen Corporation is committed to fueling a brighter future for global food security through the advancement of human and animal well-being. Harnessing the power of science and technology, Neogen has developed comprehensive solutions spanning the Food Safety, Livestock ...

LANSING, Mich., May 7, 2024 /PRNewswire/ -- Neogen Corporation (NASDAQ: NEOG) announced today that the Company will participate in the 2024 RBC Capital Markets Global Healthcare Conference in New York, New York, on Tuesday, May 14, 2024.John Adent, Neogen's Chief Executive Officer, will present at 4:05 PM Eastern Time.To access the webcast and presentation materials, please visit the Events & Presentations section of the Neogen Investor Relations website at neogen.com/investor-relations/events-presentations ...

LANSING, Mich., May 1, 2024 /PRNewswire/ -- Neogen® Corporation (NASDAQ: NEOG) is celebrating 40 years of Petrifilm, the innovation that changed how microbiologists around the world perform indicator testing. Petrifilm®: A history of innovation and success. "In the food safety industry, Petrifilm is recognized as a true game-changer," said John Adent, Neogen's President and CEO. "To have this groundbreaking solution as part of the Neogen portfolio showcases our commitment to providing best-in-class solu ...

LANSING, Mich., April 30, 2024 /PRNewswire/ -- Neogen® Corporation (NASDAQ: NEOG), a worldwide leader in innovative solutions that help the food and beverage industries ensure safety and quality in their products, announced today the launch of the new Neogen Molecular Detection Assay 2 – Salmonella Enteritidis/Salmonella Typhimurium (MDA2SEST). The product joins several other next-generation assays, including Salmonella, E. coli O157 (including H7), Listeria and Listeria monocytogenes, Campylobacter, STEC g ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended February 29, 2024. or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 0-17988 Neogen Corporation (Exact name of registrant as specified in its charter) Michigan 38-2367843 (State or other jurisdict ...

Financial Data and Key Metrics Changes - The third quarter revenues were $229 million, with core revenue growth of over 6% excluding foreign currency impacts, acquisitions, and discontinued product lines [29] - Adjusted EBITDA was $53 million with a margin of 23%, reflecting a year-over-year decline of 50 basis points due to increased operating expenses [24][25] - Adjusted net income and adjusted earnings per share were flat at $26 million and $0.12 respectively, impacted by higher depreciation expenses related to ERP implementation [25] Business Line Data and Key Metrics Changes - Food Safety segment revenues were $158 million, a 4% increase year-over-year, with core growth of almost 6% driven by strong Petrifilm sales [30] - Animal Safety segment revenues were $71 million, with core revenue increasing by 7%, showing normalization in destocking trends and a 15% increase in non-genomic sales [31] - Genomics revenue was down mid-single digits on a core basis, reflecting a strategic shift away from small production animals [23] Market Data and Key Metrics Changes - North America led core revenue growth with high-single digits, while Europe saw mid-single digits growth, particularly in Petrifilm and genomics [32] - Asia-Pacific core revenue was roughly flat year-over-year, with strong growth in allergens and biosecurity products offset by declines in pathogens [33] - Latin America also experienced flat core growth, impacted by shipping constraints affecting export levels [35] Company Strategy and Development Direction - The company is focused on integrating the former 3M product lines and addressing operational inefficiencies, with a commitment to resolving these challenges [19][50] - There is an emphasis on pathogen detection and food quality analysis as key growth areas, with recent product developments aimed at enhancing market position [17][18] - The company is reviewing its portfolio to better balance investments with expected growth, aiming for a return to typical growth levels [51][52] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the operational inefficiencies and backlog issues affecting product availability, which have led to lost sales opportunities [7][14] - The end market environment is improving, with expectations for recovery in lost revenue despite near-term impacts from shipping issues [14][48] - The company updated its full-year guidance, expecting revenue between $910 million and $920 million, and adjusted EBITDA between $210 million and $215 million [48] Other Important Information - The company has completed two phases of relocating the former 3M sample handling product line, with plans to complete the remaining phases by the end of the fiscal year [10] - The gross margin for the third quarter was 51.1%, an increase of 160 basis points from the previous year, driven by recovery in sales of former 3M products [34] Q&A Session Summary Question: Can you discuss the working capital inventory and its trend into Q4? - Management noted that receivables were higher due to the back-end loaded nature of the quarter, with ongoing efforts to improve working capital [57][63] Question: What is the status of integration and remaining challenges? - The integration of indicator testing and sample handling is ongoing, with expectations to complete the majority by Q1 [76] Question: How are operational efficiencies being addressed? - Management expressed frustration with the integration timeline but is confident in resolving issues to meet customer needs and regain market share [86]

(4) Income tax expense associated with non-deductible transaction costs that were recognized as expense in prior periods. (5) Tax effect of adjustments is calculated using projected effective tax rates for each applicable item. Disclaimer This presentation includes "forward-looking statements" as that term is defined in Section 21E of the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on Neogen's current expecta ...

Exhibit 99.1 Neogen Announces Third-Quarter 2024 Results LANSING, Mich., April 9, 2024 – Neogen Corporation (NASDAQ: NEOG) announced today the results of the third quarter ended February 29, 2024. "The third quarter saw us complete a number of milestone achievements related to the integration of the former 3M Food Safety business," said John Adent, Neogen's President and Chief Executive Officer. "We completed the relocation of the pathogen detection product line and the initial phases of the relocation of t ...