Neogen Corporation · NASDAQ:NEOG
Neogen — Q3 FY2023 Earnings Presentation
10 slides from Neogen's earnings presentation, Mar 30, 2023
Slide 1: Fiscal Year 2023 Third-Quarter Results
Fiscal Year 2023 Third-Quarter Results March 30, 2023 ©2020 NEOGEN Corporation. All rights reserved.
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 generally identified b
Slide 3: Q3 FY23 Summary
Q3 FY23 Summary • Solid performance from legacy Neogen business ‒ Benefits of diversified product portfolio of consumables offset weaker macro environment • Former 3M Food Safety business impacted by lower-than-expected production volumes at transition manufacturing partner ‒ Inability to fully meet
Slide 4: Financial Highlights
Financial Highlights Adjusted Net Income Revenue ($M) Adjusted EBITDA ($M) ($M, excl. per share) $218.3 $51.3 $26.5 $128.2 $16.2 $24.9 $0.15 $0.12 23.5% Adjusted Adjusted 19.4% Margin (2) EPS EPS (2) Margin Q3 FY22 Q3 FY23 Q3 FY22 Q3 FY23 Q3 FY22 Q3 FY23 • Core revenue growth(1) of 6% in • Food Safe
Slide 5: Capital Allocation
Capital Allocation Debt Profile • $100M of debt repaid since closing of Food Safety transaction in September 2022 Gross Debt - $900M • Proportion of fixed-rate debt synthetically Cash & Marketable increased to 67% Securities - $183M • Cash position impacted by Net Debt - $717M 33% 67% ‒ Strategic bo
Slide 6: Looking Ahead
Looking Ahead • Lower output levels at transition manufacturing partner expected to push H2 FY23 results towards lower end of previously communicated ranges of MSD core revenue growth and mid-20’s Adjusted EBITDA margin ‒ Revised operating plan and committed engagement from senior levels of transiti
Slide 7: Thank you for joining us.
To view the earnings press release Thank you for and presentation, visit: WWW.NEOGEN.COM/INVESTOR-RELATIONS joining us. 7 ©2023 NEOGEN Corporation. All rights reserved.
Slide 8: Appendix
Appendix
Slide 9: Non-GAAP Reconciliations: Adjusted EBITDA
Non-GAAP Reconciliations Adjusted EBITDA 9 ©2023 NEOGEN Corporation. All rights reserved.
Slide 10: Non-GAAP Reconciliations: Adjusted Net Income
Non-GAAP Reconciliations Adjusted Net Income 10 ©2023 NEOGEN Corporation. All rights reserved.