Life sciences company Neogen (NASDAQ: NEOG) will be reporting earnings this Thursday morning. Here’s what to expect.
Neogen beat analysts’ revenue expectations last quarter, reporting revenues of $211.2 million, down 4.4% year on year. It was a very strong quarter for the company, with a beat of analysts’ EPS estimates and full-year revenue guidance slightly topping analysts’ expectations.
Is Neogen a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Neogen’s revenue to decline 5.7% year on year, in line with the 4.8% decrease it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Neogen has missed Wall Street’s revenue estimates multiple 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. Abbott Laboratories delivered year-on-year revenue growth of 13%, beating analysts’ expectations by 0.7%, and Intuitive Surgical reported revenues up 18.5%, topping estimates by 2.5%. Abbott Laboratories traded up 12.8% following the results while Intuitive Surgical was down 14.1%.
Read our full analysis of Abbott Laboratories’s results here and Intuitive Surgical’s results here.
There has been positive sentiment among investors in the healthcare equipment and supplies segment, with share prices up 4.4% on average over the last month. Neogen’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $12 (compared to the current share price of $9.15).
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