Neogen Corporation (NASDAQ: NEOG) reported Q2 FY24 sales of $229.6 million, down 0.2% Y/Y, missing the consensus of $232.87 million. Core revenue declined 0.9%.
Acquisitions and discontinued product lines contributed 0.2% to revenue growth, while foreign currency added 0.5%.
The company reported an adjusted EPS of $0.11, compared to $0.15 a year ago and missing the consensus of $0.14.
Gross margin was 50.9% in the second quarter of fiscal 2024, up from 48.9% a year ago, primarily due to the favorable impact of the product mix.
Revenues for the Food Safety segment were $164.4 million, up 1.9% Y/Y. Revenues for the Animal Safety segment were $65.2 million, compared to $68.7 million a year ago.
On a global basis, the company's Genomics business experienced a core revenue decline ...