Neogen (NEOG) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
For the quarter ended November 2023, Neogen (NEOG) reported revenue of $229.63 million, down 0.2% over the same period last year. EPS came in at $0.11, compared to $0.15 in the year-ago quarter.
The reported revenue represents a surprise of -2.10% over the Zacks Consensus Estimate of $234.56 million. With the consensus EPS estimate being $0.15, the EPS surprise was -26.67%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Neogen performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Revenues- Animal Safety: $65.23 million compared to the $68.40 million average estimate based on three analysts. The reported number represents a change of -5% year over year.
Revenues- Food Safety: $164.40 million versus $166.14 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +1.9% change.
Revenues- Food Safety- Culture Media & Other: $83.76 million versus $82.14 million estimated by two analysts on average.
Revenues- Animal Safety- Life Sciences: $1.68 million versus the two-analyst average estimate of $1.52 million.
Revenues- Animal Safety- Veterinary Instruments & Disposables: $16.94 million versus the two-analyst average estimate of $14.68 million.
Revenues- Animal Safety- Animal Care & Other: $8.99 million versus the two-analyst average estimate of $10.27 million.
Revenues- Food Safety- Natural Toxins, Allergens & Drug Residues: $21.11 million versus the two-analyst average estimate of $23.65 million.
Revenues- Animal Safety- Genomics Services: $17.67 million compared to the $6.24 million average estimate based on two analysts.
Revenues- Food Safety- Genomics Services: $5.81 million compared to the $21.37 million average estimate based on two analysts.
Revenues- Food Safety- Rodent Control, Insect Control & Disinfectants: $10.95 million versus $11.44 million estimated by two analysts on average.
Revenues- Food Safety- Bacterial & General Sanitation: $42.77 million compared to the $42.66 million average estimate based on two analysts.
Revenues- Animal Safety- Rodent Control, Insect Control & Disinfectants: $19.95 million versus the two-analyst average estimate of $22.15 million.
View all Key Company Metrics for Neogen here>>>
Shares of Neogen have returned +11.7% over the past month versus the Zacks S&P 500 composite's +3.5% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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