After Delaying Earnings, Catalent Posts Larger-Than-Expected Q3 Loss Due To Production Challenges
Portfolio Pulse from Vandana Singh
Catalent Inc (NYSE: CTLT) reported Q3 FY23 revenue of $1.04 billion, down 19% YoY, but beating consensus estimates. The company posted a larger-than-expected adjusted net loss of $17 million due to production challenges and higher costs at its manufacturing facilities.
June 12, 2023 | 12:55 pm
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Catalent's Q3 FY23 revenue beat estimates, but the company posted a larger-than-expected adjusted net loss due to production challenges and higher costs at its manufacturing facilities.
Catalent's Q3 FY23 revenue beat consensus estimates, which is a positive sign for investors. However, the company posted a larger-than-expected adjusted net loss due to production challenges and higher costs at its manufacturing facilities, which could negatively impact the stock price. The overall impact on the stock price is expected to be neutral in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100