Catalent Stock Soars: Company Cuts Annual Forecast By ~$400M Hurt By Operational Challenges
Portfolio Pulse from Vandana Singh
Catalent Inc (CTLT) has lowered its 2023 revenue and profit forecast due to operational challenges and higher-than-expected costs, resulting in a delay of its Q3 FY23 earnings release twice this month. The company continues to win new business, including expansions with Novo Nordisk (NVO) and Samsung Bioepis.
May 19, 2023 | 2:33 pm
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NEGATIVE IMPACT
Catalent has lowered its 2023 revenue and profit forecast due to operational challenges, resulting in a delay of its Q3 FY23 earnings release twice this month.
Catalent's lowered forecast and delayed earnings release indicate operational challenges and higher-than-expected costs, which are likely to negatively impact the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
NEUTRAL IMPACT
Catalent continues to win new business, including expansions of supply agreements with Novo Nordisk.
While Catalent's operational challenges may raise concerns, the company's continued business with Novo Nordisk suggests that the impact on NVO's stock price will likely be neutral in the short term.
CONFIDENCE 80
IMPORTANCE 40
RELEVANCE 50