Neogen (NEOG) stock jumps on earnings beat and outlook lift as Petrifilm transition stays in focus
Neogen shares jumped 27% to $9.38 after reporting adjusted quarterly earnings of 10 cents per share, beating estimates, and raising its full-year outlook. Revenue fell 2.8% to $224.7 million but topped forecasts. Adjusted EBITDA margin rose to 21.7%. The company cut headcount by 10% and reaffirmed progress on its Petrifilm manufacturing shift.