Welcome to our dedicated page for Neogen news (Ticker: NEOG), a resource for investors and traders seeking the latest updates and insights on Neogen stock.
Neogen Corporation (NASDAQ: NEOG) generates a steady flow of news related to food safety, animal safety, and global food security. As a Lansing, Michigan-based manufacturer of diagnostics and related products, Neogen regularly issues updates on its financial performance, segment trends, and strategic actions that affect the Food Safety and Animal Safety markets.
On this page, readers can follow earnings releases where Neogen reports revenue, segment performance, gross margin, and non-GAAP measures such as adjusted EBITDA. These updates often break out results for the Food Safety and Animal Safety segments, discuss core revenue trends versus divestitures and discontinued product lines, and provide commentary on product categories like pathogen detection, indicator testing, culture media, biosecurity, and genomics.
Neogen’s news flow also includes announcements about leadership changes, such as the appointment of a new President and Chief Executive Officer, Chief Financial Officer, and senior commercial and business unit leaders. Board transitions, including director retirements and new director appointments, are disclosed through both press releases and related SEC filings.
Sector-specific items appear in Neogen’s news as well, including collaborations in equine health and vaccine offerings such as BotVax B for botulism Type B in horses. The company also announces participation in investor conferences and the timing of quarterly earnings calls and webcasts.
By reviewing the NEOG news feed on this page, investors and observers can track how Neogen describes its progress in food safety, livestock, and pet health and wellness, as well as its strategic transformation efforts, restructuring actions, and capital allocation decisions over time.
Neogen Corporation (Nasdaq: NEOG) reported an 8% increase in revenues to $109.3 million for Q1 FY2021, compared to $101.4 million in the previous year. Net income rose to $15.9 million, or $0.30 per share, up from $14.7 million, or $0.28 per share. Strong growth in the genomics and biosecurity product lines contributed to positive results, despite challenges in food safety markets. However, gross margin decreased to 46.0% from 47.5%, and operating expenses dropped 2% due to reduced travel. Currency fluctuations negatively impacted reported revenues in Brazil and Mexico.
Neogen Corporation (NASDAQ: NEOG) has launched an enhanced gluten detection test, Reveal® 3-D, which can identify gluten levels as low as 5 parts per million in just 5 minutes. This test simplifies the process for food industry customers by allowing them to test both food products and environmental samples using a single method. The product incorporates a specialized buffer for efficient extraction without compromising test speed. Neogen continues to provide various allergen testing solutions, catering to substantial food safety concerns.
Neogen Corporation (NASDAQ: NEOG) has signed a sponsorship agreement with the National FFA, committing to donate $1 for every 7-ounce bottle of its COMPANION™ Hand Sanitizer sold from Sept. 1, 2020 to Feb. 28, 2021, up to $250,000. The initiative aims to support agricultural education and combat COVID-19. CEO John Adent expressed the importance of investing in young agricultural leaders, while Molly Ball of the National FFA highlighted the partnership's role in ensuring safety amid uncertainty.
Neogen Corporation (Nasdaq: NEOG) announced that its BioSentry® 904 Disinfectant has received EPA approval for killing SARS-CoV-2, the virus that causes COVID-19. This hospital-grade disinfectant is effective when surfaces remain visibly wet for at least three minutes. The product addresses significant concerns following recent COVID outbreaks, particularly in the food industry. In addition to BioSentry 904, Neogen offers other disinfectants with emerging pathogen approvals, aiding in the fight against COVID-19.
Neogen Corporation (NASDAQ: NEOG) has completed the acquisition of the U.S. rights to Elanco's StandGuard® Pour-on, an insecticide for horn fly and lice control in beef cattle. This product enhances Neogen's agricultural insecticide portfolio, building on its previous acquisition of Chem-Tech in 2014. StandGuard is recognized as a top insecticide in the domestic beef cattle market. While specific financial terms were undisclosed, the acquisition is expected to strengthen Neogen's capabilities in animal safety and agricultural insecticides.
Neogen Corporation (NASDAQ: NEOG) reported Q4 2020 revenues of $109.1 million, a slight decrease from $109.8 million the previous year. Annual revenues increased to $418.2 million from $414.2 million. Q4 net income rose to $16.3 million ($0.31 per share) compared to $15.8 million ($0.30 per share) last year. Gross margins improved to 47.4%, aided by COVID-19-related sanitizer sales. The Food Safety segment saw a decline to $54.3 million due to currency impacts and COVID-19 disruptions, while Animal Safety revenues increased modestly due to strong sanitizer sales. Global operations varied, with significant growth in Chinese revenues (22%).
Neogen Corporation (NASDAQ: NEOG) announced plans to acquire the U.S. rights to Elanco's StandGuard® Pour-on for cattle insect control, enhancing its agricultural insecticide portfolio. This acquisition aligns with the FTC's recent approval of Elanco's buyout of Bayer AG's animal health business. StandGuard is a leading product in the domestic beef cattle insecticide market, offering Neogen immediate sales prospects and access to new registrations. The transaction terms remain undisclosed, but the acquisition signifies Neogen's strategic growth in agricultural biosecurity.
Neogen Corporation (NASDAQ: NEOG) has launched the Soleris® Next Generation (NG) system, designed for rapid detection of microorganisms in food and consumer products. This advanced system can identify yeast and mold in 48 hours and detect Alicyclobacillus in the same timeframe, significantly faster than traditional methods. With features such as integrated software and 32-vial incubating drawers, Soleris NG simplifies the testing process across various industries, including food, nutraceutical, cosmetic, and cannabis sectors. The system is validated by USP and certified by AOAC and MicroVal.