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# Neogen Lifts Fiscal 2027 Revenue Outlook To $885 Million-$890 Million Despite $11.9 Million Quarterly Loss
- URL: https://www.bullished.co/neogen-lifts-fiscal-2027-revenue-outlook-to-885-million-890-million-despite-11-9-million-86cb4a21/
- Published: 2026-10-06T20:22:25.000Z
- Updated: 2026-10-06T20:22:25.000Z
- Description: Core sales grew 8.1% and adjusted earnings doubled to $0.08 a share, while a year-ago divestiture gain did not repeat.
- Author: Matteo Parrino
- Tags: Deals, NEOG, Industry: Healthcare

Neogen reported first-quarter revenue of [$222.8 million](https://www.sec.gov/Archives/edgar/data/0000711377/000119312526415544/neog-ex99%5F1.htm?ref=bullished.co), up 6.5% from $209.2 million a year earlier, and raised its fiscal 2027 revenue and adjusted EBITDA guidance, according to an [8-K filed Tuesday](https://www.sec.gov/Archives/edgar/data/0000711377/000119312526415544/neog-20261006.htm?ref=bullished.co). The bottom line swung to a net loss of $11.9 million because last year's quarter included a one-time gain.

## What the results show

Core revenue, which strips out currency effects plus divested and discontinued products, rose 8.1%. The company said the core figure includes a benefit of about 3% from distributor inventory adjustments in the prior-year quarter and the timing of certain customer orders this year.

Food Safety revenue was $163.2 million, up 7.4%, with core growth of 8.1%. Animal Safety revenue was $59.6 million, up 4.2%, with core growth of 8.0%. Domestic revenue was $110.1 million and international revenue was $112.7 million, with growth in all regions, including double-digit growth in Asia Pacific.

Neogen posted a net loss of $11.9 million, or $(0.05) per share. A year earlier it earned $36.3 million, or $0.17 per share, driven mainly by a non-cash gain on selling its Cleaners & Disinfectants business.

Adjusted net income, which excludes items such as acquisition-related amortization and transformation costs, was $17.5 million, or $0.08 per share, versus $9.5 million, or $0.04\. Adjusted EBITDA was $41.6 million, an 18.7% margin, versus $35.5 million and 17.0%.

## Margins and the new guidance

Gross margin, the share of sales left after direct costs, was 47.4% versus 45.4%. The company said the gain came mainly from lower costs tied to integrating the former 3M Food Safety business. Operating loss narrowed to $1.8 million from $16.1 million.

Cash flow from operations was $12.9 million and free cash flow was $4.7 million.

For fiscal 2027, Neogen now expects revenue of $885 million to $890 million, up from $880 million to $885 million. It expects adjusted EBITDA of $181 million to $183 million, up from $180 million to $182 million.

CEO Mike Nassif said the results "reflect encouraging progress as the changes underway across the organization continue to take hold."

In Tuesday after-hours trading, shares were up 7.53% at $12.86, versus the $11.96 regular-session close (market data).

## Petrifilm, Genomics and the call

Neogen said it is on track to begin a multi-quarter move of Petrifilm manufacturing to its Lansing site in November 2026\. It fully validated the first single kit unit in August 2026.

The company also announced a collaboration with, and equity investment in, Hinalea Imaging Corp. to develop digital imaging for food safety inspection.

The pending sale of its global Genomics business to Zoetis remains subject to customary closing conditions. Regulatory reviews are expected to conclude by the end of December 2026.

Management hosts a call at 4:30 p.m. Eastern on Tuesday.

The Petrifilm transition begins in November 2026, and regulatory reviews of the Zoetis sale are expected to conclude by the end of December 2026.

### Sources

- [8-K Filing — NEOGEN CORP (NEOG)](https://www.sec.gov/Archives/edgar/data/0000711377/000119312526415544/neog-20261006.htm?ref=bullished.co) — SEC EDGAR
- [Exhibit neog-ex99\_1.htm — NEOGEN CORP 8-K exhibit](https://www.sec.gov/Archives/edgar/data/0000711377/000119312526415544/neog-ex99%5F1.htm?ref=bullished.co) — SEC EDGAR