Life sciences company Neogen (NASDAQ:NEOG) will be reporting results this Tuesday before the bell. Here’s what you need to know.
Neogen missed analysts’ revenue expectations by 1.5% last quarter, reporting revenues of $221 million, down 3.4% year on year. It was a disappointing quarter for the company, with a significant miss of analysts’ EPS estimates and full-year EBITDA guidance missing analysts’ expectations.
Is Neogen a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Neogen’s revenue to decline 6% year on year to $222.5 million, a further deceleration from the 2.1% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.09 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Neogen has missed Wall Street’s revenue estimates five times over the last two years.
Looking at Neogen’s peers in the healthcare equipment and supplies segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Boston Scientific delivered year-on-year revenue growth of 22.8%, beating analysts’ expectations by 3.4%, and Abbott Laboratories reported revenues up 7.4%, topping estimates by 0.9%. Boston Scientific traded up 2.9% following the results while Abbott Laboratories was down 6.1%.
Read our full analysis of Boston Scientific’s results here and Abbott Laboratories’s results here.
Investors in the healthcare equipment and supplies segment have had steady hands going into earnings, with share prices flat over the last month. Neogen is up 5.8% during the same time and is heading into earnings with an average analyst price target of $7.50 (compared to the current share price of $5.06).
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