Neogen Corp Stock Price, News & Analysis

Neogen Corporation (NASDAQ: NEOG), a leader in food safety solutions, has announced its participation in the upcoming 45th Annual William Blair Growth Stock Conference in Chicago. David Naemura, who serves as both Chief Financial Officer and Chief Operating Officer, will deliver a presentation on June 4, 2025, at 8:40 a.m. Central Time. Interested parties can access the webcast through the Events & Presentations section of Neogen's investor relations website.

Neogen Corporation (NASDAQ: NEOG) announced a significant board transition, with James P. Tobin retiring from the Board of Directors effective May 31, 2025, after serving since 2016. Tobin currently chairs the Governance and Sustainability Committee and serves on the Audit Committee. James C. Borel, Board Chair, will temporarily lead the Governance Committee until a successor is named.

The company appointed Andrea Wainer as Tobin's replacement, effective June 1, 2025. Wainer brings over 25 years of diagnostics and healthcare industry experience, most recently serving as Executive Vice President of Rapid and Molecular Diagnostics at Abbott Laboratories. She also serves on Analog Devices' (NASDAQ: ADI) board as a member of the Nominations and Governance Committee.

Neogen (NASDAQ: NEOG) has announced the sale of its global cleaners and disinfectants business to Kersia Group for $130 million in cash, plus performance-based contingent consideration. The transaction is expected to close in Q1 of fiscal year 2026 and be margin-accretive.

The cleaners and disinfectants business, generating approximately $60 million in annual revenue, serves livestock applications including swine, poultry, and ruminants operations. The sale proceeds will be used to repay the $100 million drawn on the Company's revolving credit facility, reducing Neogen's net leverage ratio by approximately 0.4x on a pro forma basis.

This strategic divestiture allows Neogen to focus on its core food safety diagnostics business, while Kersia Group aims to leverage the acquired business's expertise and product range to enhance its global biosecurity solutions.

Neogen (NASDAQ: NEOG) announced that CEO and President John Adent will be stepping down after eight years with the company. Adent will continue in his current roles until a successor is appointed.

The Board of Directors has formed a special committee led by Board Chair Jim Borel, Thierry Bernard, and Jeff Capello to oversee the CEO search process. The company has engaged a leading global executive search firm to assist with the transition.

The committee will support the leadership team in executing ongoing strategic initiatives, including growth, profitability improvement, and portfolio prioritization. The company emphasizes its position in the food safety market with its broad portfolio of solutions and enhanced innovation capabilities.

Neogen (NEOG) reported third-quarter 2025 results with revenue of $221.0 million, representing a 3.4% decrease from the previous year. The company posted a net loss of $11.0 million, or $(0.05) per diluted share, while Adjusted Net Income was $20.9 million ($0.10 per diluted share).

The Food Safety segment revenue decreased 3.2% to $152.7 million, while the Animal Safety segment declined 4.0% to $68.2 million. Gross margin decreased to 49.9% from 51.1% year-over-year. The company's Adjusted EBITDA was $48.5 million with a margin of 22.0%.

Due to lower-than-expected Q3 results and increasing macroeconomic uncertainty, Neogen updated its full-year 2025 guidance, now expecting revenue of approximately $895 million and Adjusted EBITDA of about $195 million. Capital expenditures are projected at $100 million.

Neogen (NASDAQ: NEOG) has successfully refinanced its debt structure, including a $450 million term loan and an expanded $250 million revolving credit facility, both maturing in April 2030. This refinancing extends the previous maturity by over two and a half years from the original August 2027 date.

The transaction refinances the remaining $550 million principal of its original $650 million term loan and increases the revolving credit facility from $150 million to $250 million, with an initial draw of $100 million. The new facilities feature improved terms with interest at SOFR plus 175 basis points margin, representing a 60 basis point reduction.

JPMorgan Chase Bank led the refinancing as Administrative Agent and Joint Lead Arranger, alongside BofA Securities, Citizens Bank, Goldman Sachs Bank USA, and Wells Fargo Securities as additional Joint Lead Arrangers.

Neogen (NEOG) has announced it will release its third-quarter earnings report before market opening on Wednesday, April 9, 2025. The company will host a webcast and conference call at 8:00 a.m. Eastern time on the same day to discuss the financial results.

Investors can access the conference call through toll-free numbers for North America (1-800-549-8228) and international callers (+1 646-564-2877) using Conference ID 63045. A live webcast will be available through Neogen's Investor Relations webpage. A replay of both the call and webcast will be accessible shortly after the event's conclusion.

Neogen (NASDAQ: NEOG) announced that the National Labor Relations Board (NLRB) has withdrawn its unfair labor practices claim against the company following a mutual agreement, with no admission of wrongdoing by Neogen.

The company's Lansing warehouse shipping clerks and material handling employees will soon participate in a unionization election. Amy Rocklin, Chief Legal and Compliance Officer, emphasized the company's commitment to maintaining a supportive workplace environment and respecting employee rights throughout the election process.

Neogen (NASDAQ: NEOG) has launched Igenity BCHF, a groundbreaking genomic test designed to assess the genetic risk of Bovine Congestive Heart Failure (BCHF) in cattle. The test provides a 1-to-10 scoring system, where 1 indicates the lowest risk and 10 the highest risk of disease development, with each score decrease representing approximately 3.5% lower expected incidence rate.

The innovative test aims to help producers manage BCHF risk within their herds, produce lower-risk feeder calves, and reduce economic losses. BCHF is identified as a significant threat affecting both young calves on pasture and late-fed cattle. According to Dr. Victor Pedrosa, Director of Technical Genomics and Innovation, the test results indicate the percentage of BCHF risk an animal might pass to its progeny.