Neogen Corporation (NEOG) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

I'd like to extend a special welcome to Mike on his first earnings call at Neogen. I will now turn things over to him. Thank you, Bill. Good morning, everyone, and thank you for joining the call today. When I was approached about the opportunity to leave Neogen a few months ago, I was drawn by a strong reputation as a leader in both food and animal safety. Few companies have the chance to shape a safer, healthier world through innovations like Petri film, and comprehensive environmental monitoring. However, I also found a company not yet reaching its full operational and financial potential. I saw an opportunity to make a transformative impact and position Neogen for sustained success. Having led the turnaround of the point of care diagnostics business at Siemens Healthineers over three years, I drove step changes in performance, and I'm confident that experience equips me to deliver similar results at Neogen. In my first nine weeks, I've prioritized engaging with our talented team, customers, partners, and shareholders. Neogen's employees are deeply passionate, and our loyal customer base is equally committed to our mission. We're a leader with unique scale, product depth, and global capabilities in a highly attractive market, but execution challenges are holding us back. Moreover, I do not believe a major strategic overhaul is needed. we can unlock significant growth through disciplined focus, prioritization, and scaling of effective processes. Part of my comprehensive review of the business includes reexamining our strategic initiatives and aligning them with our targeted improvement plan to drive sustainable growth. In the short term, we are focusing on the critical priorities of driving top-line growth, right-sizing our cost base, reinvigorating innovation, and ...