10-Q · April 9, 2026
Neogen reported Q3 revenue of $211.2M (down from $221.0M year‑ago and $225M in the prior quarter), with gross margin compressing to 46.9% and an operating loss of $3.3M. The company generated higher cash (cash &…
Earnings analysis · 10-Q
NEOG earnings analysis
Filed October 7, 2026 · Our reading of the company's report
The latest report
Neogen reported $222.8 million of revenue, up 6.5% year over year and ahead of consensus, with growth in both Food Safety and Animal Safety. Management raised FY27 revenue guidance to $885 million-$890 million and…
Read full summary
Neogen reported $222.8 million of revenue, up 6.5% year over year and ahead of consensus, with growth in both Food Safety and Animal Safety. Management raised FY27 revenue guidance to $885 million-$890 million and adjusted EBITDA guidance to $181 million-$183 million. However, GAAP diluted EPS remained negative at $0.05, and the supplied 10-Q text does not provide sufficient detail to quantify current gross margin, operating margin, free cash flow, or segment revenue.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $-0.05
- Segment
- Food Safety: expanded year over year; segment revenue not disclosed in the supplied 10-Q text.
- Segment
- Animal Safety: expanded year over year; segment revenue not disclosed in the supplied 10-Q text.
What stood out
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Revenue beat estimates and grew 6.5%
Revenue was $222.8 million, up 6.5% year over year and approximately 7.0% above the $208.2 million consensus estimate.
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FY27 revenue outlook raised
Management raised FY27 revenue guidance to $885 million-$890 million from $880 million-$885 million, an increase of $5 million at both ends of the range.
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Adjusted EBITDA outlook improved
FY27 adjusted EBITDA guidance increased to $181 million-$183 million from $180 million-$182 million, raising the midpoint by $1 million.
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Growth across both operating segments
Food Safety and Animal Safety both expanded year over year, although the supplied filing text does not provide revenue by segment.
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Repurchase capacity remains available
The company had 5,900,000 shares remaining under its repurchase authorization as of August 31, 2026, and purchased 0 shares during June, July, and August 2026.
What to watch
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GAAP earnings remained negative
GAAP diluted EPS was a loss of $0.05, despite reported adjusted EPS of $0.08 in the earnings data, indicating continuing GAAP profitability pressure.
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Existing risk profile remains unchanged
The filing states there were 0 material changes to the risk factors described in the May 31, 2026 Form 10-K; existing risks therefore remain applicable without a newly disclosed mitigation.
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Variable-rate borrowing exposure
The company continues to have exposure to variable-rate borrowings under its Credit Facilities, although management reported 0 meaningful changes in interest-rate or foreign-currency exposure from the 10-K.
Management's outlook
FY27 revenue guidance was raised to $885 million-$890 million from $880 million-$885 million. Adjusted EBITDA guidance was raised to $181 million-$183 million from $180 million-$182 million; no numeric EPS guidance was provided.
Earlier filings 4
10-Q · October 9, 2025
Neogen reported quarterly revenue of $209.189M and GAAP net income of $36.338M (diluted EPS $0.17) for the three months ended August 31, 2025, driven primarily by a $76.39M gain on the July 17, 2025 sale of its Cleaners…
10-K · July 30, 2025
Neogen positions itself as a market-leading provider of food and animal safety products with a growth strategy focused on increasing sales of existing products, new product introductions, international expansion, and…
10-Q · April 9, 2025
Neogen reported quarterly revenue of $220,980,000, down from $228,812,000 in the year-ago quarter, with gross profit of $110,265,000 (49.9% gross margin) and operating income of $5,415,000 (2.45% operating margin). The…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.