2023-05-19 08:00:31 ET
Catalent ( NYSE: CTLT ) fell ~4% pre-market Friday after the contract manufacturer announced another delay for its Q3 FY23 report and lowered its full-year outlook ahead of a conference call scheduled to provide a business update.
Late last week, the company delayed the earnings release and conference call for a third time from Monday to Friday, citing the need to finalize its financial statements.
Catalent ( CTLT ) also disclosed that on May 16, the NYSE notified the company that it was not in compliance with the stock exchange’s listing requirements for the timely filing criteria.
It has six months from May 15 to regain compliance, and the NYSE can grant additional six months to help it regain compliance under certain circumstances.
“The Company is working diligently to complete the necessary work to file the Form 10-Q as soon as practicable and currently expects to file the Form 10-Q within the six-month period granted by the NYSE Notice,” Catalent ( CTLT ) said.
Ahead of a conference call on Friday, the Somerset, New Jersey-based company also lowered its full-year guidance indicating $4.25B – $4.35B for revenue and $725M – $775M for adj. net income.
The previous guidance for revenue and adj. net income stood at $4.625B – $4.875B and $567M – $648M, and the consensus estimates indicate $4.43B and $361.6M for the two figures, respectively, according to Bloomberg data.
For further details see:
Catalent slips after delaying Q3 report again; cuts guidance