Neogen Corporation · NASDAQ:NEOG
Neogen — Q3 2026 Earnings Presentation
19 slides from Neogen's earnings presentation, Apr 9, 2026
Slide 1: Fiscal Year 2026 Third-Quarter Results
Fiscal Year 2026 Third-Quarter Results April 9, 2026
Slide 2: Disclaimer
Disclaimer Forward-Looking Statements This presentation includes “forward-looking statements” as that term is defined in Section 21E of the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on Neogen’s curr
Slide 3: Key Quarterly Highlights
Key Quarterly Highlights +4% Food Safety core growth of +110bp On Track Petrifilm manufacturing Adjusted EBITDA2 margins 4%1 continues strong trend improve 110 bp sequentially on transition on track for from 2Q26 strong cost control November 2027 (1) Excludes the impacts of foreign currency, acquisi
Slide 4: Building on our Leadership in Food Safety
Building on our Leadership in Food Safety D R I V I N G I M P R O V E D , M O R E P R E D I C TA B L E O P E R AT I O N A L P E R F O R M A N C E Strengthening our sales & marketing engine by Commercial deploying an enhanced go-to-market strategy, a Prowess global solutions-based selling model, & ri
Slide 5: Strong Commercial Foundation to Build Upon
Strong Commercial Foundation to Build Upon Comprehensive Portfolio, Technical Expertise and Global Education, Training, & Integrated Solutions Standard-Setting Guidance Implementation Support Driving strong customer sentiment, with > 75% of customers buying multiple product categories “I view them a
Slide 6: Elevating our Global Commercial Performance
Elevating our Global Commercial Performance 1 2 3 Global go-to-market strategy Global solutions-based Rigorous metric-driven data re-evaluation with focus on selling approach focused on and performance analysis to high ROIC countries, leveraging technology get the most from our customers, and produc
Slide 7: Substantial Innovation Pipeline for Sustained Growth
Substantial Innovation Pipeline for Sustained Growth 1 2 3 Petrifilm Innovation Technology Licensing Organic Development • New Food Safety SKU development • Comprehensive landscape • Increasing resources/talent • New market exploration in analysis • Focus on major product pharmaceuticals, nutraceuti
Slide 8: Driving Operational Efficiency Across the Enterprise
Driving Operational Efficiency Across the Enterprise Manufacturing S&OP Budgeting & Excellence Enhancements Forecasting • Petrifilm manufacturing • Enterprise level, end-to-end • Resources tied to value driving transition on-track for November supply chain activities 2027 • AI management tools and •
Slide 9: Key Financial Highlights for the Quarter
Key Financial Highlights for the Quarter (2) Adjusted Net Income(3) Revenue ($M) Adjusted EBITDA ($M) ($M, excl. per share) $221.0 $224.7 $211.2 $48.6 $48.7 $48.2 $22.6 $20.9 $19.4 Up 110 bp $0.10 $0.10 $0.09 22.0% 21.7% 22.8% Adjusted Adjusted Adjusted (3) (3) (3) Margin Margin Margin EPS EPS EPS Q
Slide 10: Balance Sheet & Capital Allocation
Balance Sheet & Capital Allocation Debt Profile Gross Debt $800M • Genomics divestiture brings $160M in gross proceeds and $140 in net Less: Cash & Equivalents proceeds after taxes and fees $160M – Plan to use proceeds for debt repayment after deal closes in 32% Q227 68% • Expect improved FCF in FY2
Slide 11: Raised Full-Year Revenue Outlook
Raised Full-Year Revenue Outlook Financial Guidance FY2026 $857M-$860M Total revenue Previous: $845M-$855M ≈$175M Adjusted EBITDA Previous: ≈$175M FCF Positive in FY26 Effective tax rate will now be higher due to lower tax credit realization Neogen Confidential Information © 2025 Neogen Corporation.
Slide 12: Quarterly Performance Summary
Quarterly Performance Summary • Fundamentals improving – strong food safety core growth, improving Adjusted EBITDA margins • New commercial strategy positioned to enhance growth in FY27 and beyond • Innovation a high priority with active program focused on Petrifilm, licensing opportunities, and org
Slide 13: Thank you for joining us.
To view the earnings press release and Thank you for presentation, visit: WWW.NEOGEN.COM/INVESTOR-RELATIONS joining us. © 2026 Neogen Corporation. All rights reserved. | 13
Slide 14: Appendix
Appendix
Slide 15: Non-GAAP Reconciliations
Non-GAAP Reconciliations Adjusted Gross Profit Three months ended February 28, Nine months ended February 28, 2026 2025 2026 2025 Gross Profit $ 99.0 $ 110.3 $ 300.7 $ 328.5 (1) Transaction costs 0.5 - 0.5 - (2) 3M integration costs 0.4 0.6 1.1 5.4 (3) Sample collection transition and ramp up costs
Slide 16: Non-GAAP Reconciliations
Non-GAAP Reconciliations Adjusted Operating Income Three months ended February 28, Nine months ended February 28, 2026 2025 2026 2025 Operating (Loss) Income $ (3.3) $ 5.4 $ (24.7) $ (449.8) Amortization of acquisition-related intangibles 22.0 22.9 66.9 69.2 Share-based compensation 1.1 4.2 10.4 13.
Slide 17: Non-GAAP Reconciliations
Non-GAAP Reconciliations Adjusted EBITDA (USD in millions) Three Months Ended February 28, Nine Months Ended February 28, 2026 2025 2026 2025 Net (Loss) Income $ (17.0) $ (10.9) $ 3.4 $ (479.8) Income tax (benefit) expense (3.3) 1.2 (0.3) (22.1) Depreciation and amortization 28.9 29.4 86.9 89.2 Inte
Slide 18: Non-GAAP Reconciliations
Non-GAAP Reconciliations Adjusted Net Income (USD in millions) Three Months Ended February 28, Nine Months Ended February 28, 2026 2025 2026 2025 Net (Loss) Income $ (17.0) $ (10.9) $ 3.4 $ (479.8) Amortization of acquisition-related intangibles 22.0 22.9 66.9 69.2 Share-based compensation 1.1 4.2 1
Slide 19: Non-GAAP Reconciliations
Non-GAAP Reconciliations Core Revenue Growth and Free Cash Flow (USD in millions) Year-over-Year % Change From Q3 FY26 Q3 FY25 Growth Foreign Currency Acquisitions/Divestitures Core Revenue Growth Food Safety $ 156.7 $ 152.8 2.6% 4.0% (5.4%) 4.0% Animal Safety 54.5 68.2 (20.1%) 0.5% (11.9%) (8.7%) T