Neogen Corporation · NASDAQ:NEOG
Neogen — Q2 FY2023 Earnings Presentation
10 slides from Neogen's earnings presentation, Jan 5, 2023
Slide 1: Fiscal Year 2023 Second-Quarter Results
Fiscal Year 2023 Second-Quarter Results January 5, 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: Q2 FY23 Summary
Q2 FY23 Summary Integration of Food Strong financial Resilient end Safety acquisition performance markets progressing well • Enhanced financial profile as a result • Core growth of MSD+ despite macro • Commercial teams realigned, of merger with former 3M Food uncertainty focused on highest-potential
Slide 4: Financial Highlights
Financial Highlights Adjusted Net Income Revenue ($M) Adjusted EBITDA ($M) ($M, excl. per share) $230.0 $64.1 $31.4 $20.5 $130.5 $29.6 27.8% $0.19 $0.15 Margin Adjusted Adjusted 22.7% EPS (2) EPS (2) Margin Q2 FY22 Q2 FY23 Q2 FY22 Q2 FY23 Q2 FY22 Q2 FY23 • Solid core revenue growth(1) • Food Safety
Slide 5: Capital Allocation
Capital Allocation Debt Profile Gross Debt - $940M • $100M of debt repaid since closing of Food Safety acquisition, including $40M in December Cash & Marketable Securities - $276M • Proportion of fixed-rate debt synthetically increased to 65% in Q2 35% 65% Net Debt - $664M • Capital allocation prior
Slide 6: Looking Ahead
Looking Ahead • Remain committed to achievement of $1B revenue and $300M Adjusted EBITDA targets during FY25 • Anticipate core revenue growth of MSD and a mid-20’s Adjusted EBITDA margin in H2 of FY23 as expenses added to accommodate Neogen’s expanded scale • Food Safety Division reenergized under f
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
Non-GAAP Reconciliations Adjusted EBITDA 9 ©2023 NEOGEN Corporation. All rights reserved.
Slide 10: Non-GAAP Reconciliations
Non-GAAP Reconciliations Adjusted Net Income 10 ©2023 NEOGEN Corporation. All rights reserved.