Neogen Reaffirms FY24 Revenue Guidance Of $955M-$985M Versus Consensus Of $968.41M
Portfolio Pulse from Benzinga Newsdesk
Neogen has reaffirmed its FY24 revenue guidance of $955M-$985M, in line with the consensus of $968.41M. The company also expects its adjusted EBITDA to be in the range of $235M-$255M and capital expenditures to be around $130M, including $100M for the integration of the former 3M Food Safety Division.
October 10, 2023 | 11:07 am
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NEUTRAL IMPACT
Neogen's reaffirmed FY24 revenue guidance aligns with market expectations, which could stabilize the stock. The planned capital expenditure for the integration of the 3M Food Safety Division indicates strategic investment.
Neogen's reaffirmed revenue guidance is in line with market expectations, which could prevent any drastic movements in the stock price. The company's planned capital expenditure for the integration of the 3M Food Safety Division indicates a strategic investment, which could potentially drive future growth.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100