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Neogen
Neogen (NEOG) investor relations material
Neogen Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2026 earnings summary8 Jan, 2026
Executive summary
Q2 FY26 revenue was $224.7 million, with core growth of 2.9% year-over-year, marking a return to positive core growth in both segments despite divestitures and currency impacts.
Adjusted EBITDA margin improved 470 basis points sequentially to 21.7%, driven by cost structure improvements and operational efficiency.
Net loss for the quarter was $15.9 million, a significant improvement from a $456.3 million loss in the prior year, which included a large goodwill impairment.
Leadership team strengthened with new CEO, CFO, CCO, and other key executives to drive transformation and execution.
FY26 financial guidance raised for both revenue and Adjusted EBITDA, reflecting performance ahead of expectations.
Financial highlights
Q2 FY26 revenue: $224.7 million, up from $209.2 million in Q1 FY26; core growth 2.9% year-over-year; foreign currency added 0.9%, divestitures/discontinued products were a 6.6% headwind.
Adjusted EBITDA: $48.7 million (21.7% margin), up 470 basis points from Q1.
Adjusted Net Income: $22.6 million; Adjusted EPS: $0.10–$0.11, both more than double the prior quarter.
Gross margin: 47.5%, down from 49.0% year-over-year, but up 210 basis points sequentially; excluding special costs, gross margin was 50.3%.
Free cash flow: $7.8 million in Q2, up $20.9 million from Q1; net cash from operations for six months was $30.3 million.
Outlook and guidance
FY26 revenue guidance raised to $845–$855 million; Adjusted EBITDA expected at ~$175 million.
Capital expenditures for FY26 projected at $50 million, with $35 million allocated to integration and new manufacturing facilities.
Q4 revenue expected to be modestly higher than Q3, with seasonality impacting trends.
Guidance remains cautious due to macroeconomic headwinds and new management team integration.
Effective tax rate projected at 21%.
Impact of transformation costs on future margins
Animal Safety core growth drivers beyond Biosecurity
Mitigation plans for gross margin headwinds
Petrifilm validation progress and remaining hurdles
Genomics sale: expected debt reduction and margin impact
Sustainability of new commercial process improvements
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Next Neogen earnings date
44th Annual J.P. Morgan Healthcare Conference15 Jan, 2026
Neogen
Next Neogen earnings date
44th Annual J.P. Morgan Healthcare Conference15 Jan, 2026
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Frequently asked questions
Neogen Corporation, together with its subsidiaries, develops, manufactures, and markets various products for food and animal safety worldwide. The company offers rapid tests to detect foodborne pathogens using a variety of modes; and laboratory systems to conduct real-time monitoring of animal drinking water to prevent disease. It also provides systems for environmental monitoring, such as for water quality; and multiplex PCR instruments that perform high-throughput amplification. In addition, the company offers kits to detect various pathogens in foods, such as Listeria monocytogenes; its products include Listeria Meter, Listeria reagent set (CARO kit), FoodCulture™ kits for detection of specific foodborne pathogens; vegetarian/vegan kits for use with non-animal media; and SwineSwab™ kit for detection of salmonella.
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