Neogen Q1 results beat estimates on Food Safety segment growth, raises FY27 guidance
NEOG•Neogen’s first-quarter revenue rose 6.5% to $222.8 million, beating the $208.18 million estimate, while adjusted EPS was $0.08 versus an expected loss of $0.07. The company raised fiscal 2027 revenue guidance to $885 million-$890 million and adjusted EBITDA guidance to $181 million-$183 million.
1. Quarterly results
Neogen reported first-quarter adjusted EBITDA of $41.6 million, above the $36.67 million estimate, and adjusted net income of $17.5 million, compared with an analyst consensus loss of $15.37 million. The company reported a net loss of $11.9 million and an adjusted EBITDA margin of 18.7%.
2. Segment growth
Food Safety revenue growth was driven by Indicator Testing, Culture Media and pathogen detection products. Veterinary Instruments & Consumables and insect control products contributed to Animal Safety segment growth. The company said core revenue growth benefited from prior-year distributor inventory adjustments and customer-order timing.
3. Raised outlook
Neogen raised its fiscal 2027 revenue forecast to $885 million-$890 million and its adjusted EBITDA forecast to $181 million-$183 million. The company said the transition of Petrifilm manufacturing to its Lansing site is set to begin in November 2026.
