Preliminary Q1'24 Earnings Call Presentation This presentation contains both historical and forward-looking statements and guidance. All statements other than statements of historical fact, are, or may be deemed to be, forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally can be identified by the use of statements that include phrases such as "belie ...

Catalent, Inc. (NYSE:CTLT) Q4 2023 Earnings Conference Call August 29, 2023 8:15 AM ET Company Participants Paul Surdez - Vice President, Investor Relations John Greisch - Executive Chair, Board Alessandro Maselli - President and CEO Matti Masanovich - Senior Vice President and CFO Conference Call Participants Tejas Savant - Morgan Stanley Jacob Johnson - Stephens Sean Dodge - RBC Capital Markets Justin Bowers - Deutsche Bank David Windley - Jefferies Jack Meehan - Nephron Research John Sourbeer - UBS Rache ...

We do not provide a reconciliation of forward-looking non-GAAP financial measures to our comparable U.S. GAAP financial measures because it could not do so without unreasonable effort due to the unavailability of the information needed to calculate reconciling items and due to the variability, complexity and limited visibility of the adjusting items that would be excluded from the non-GAAP financial measures in future periods. When planning, forecasting, and analyzing future periods, we do so primarily on a ...

Forward-looking Statements 2 Non-GAAP Financial Measures We evaluate the performance of our segments based on segment earnings before non-controlling interest, other (income)/expense, impairments, restructuring costs, interest expense, income tax expense/(benefit), and depreciation and amortization ("segment EBITDA"). Moreover, under our credit agreement, our ability to engage in certain activities, such as incurring certain additional indebtedness, making certain investments and paying certain dividends, i ...

Financial Data and Key Metrics Changes - Net revenue for Q3 2023 was $1.04 billion, down 19% on a reported basis and a 17% decrease on a constant currency basis compared to Q3 2022 [34] - Adjusted EBITDA decreased 69% to $105 million, representing 10.1% of net revenue versus 26.6% in the prior year quarter [34] - Adjusted net income was negative $17 million or negative $0.09 per diluted share, compared to adjusted net income of $188 million or $1.04 per diluted share in the third quarter a year ago [35] Business Line Data and Key Metrics Changes - Biologics segment net revenue was $475 million, a decrease of 32% compared to Q3 2022, primarily driven by significantly lower year-on-year COVID demand [37] - COVID revenue in Q3 was approximately $120 million, down 68% year-on-year, with a notable component sourcing settlement impacting margins [38][40] - Pharma and Consumer Health segment generated net revenue of $563 million, an increase of 1% compared to Q3 2022, with segment EBITDA down 10% [46] Market Data and Key Metrics Changes - Non-COVID growth in Biologics was approximately 11% year-on-year, with gene therapy being the strongest source of growth [42] - The company expects a significant year-on-year reduction in COVID revenue in fiscal 2024, with long-term COVID agreements now tied to standard ordering arrangements [41] Company Strategy and Development Direction - The company is focused on improving its cost structure and has developed a cost reduction plan targeting $100 million in savings for fiscal 2024 [26][28] - Catalent aims to return to historical performance levels and is committed to remaining a leading CDMO partner, with strong customer retention noted [30][31] - The company is evaluating its portfolio to ensure sustainable, profitable growth and is limiting new capital expenditures [28] Management's Comments on Operating Environment and Future Outlook - Management acknowledged operational challenges due to the COVID-19 pandemic and is working to address productivity issues and improve forecasting [6][23] - There are initial signs of recovery in biotech funding, although the path back to previous activity levels is expected to be gradual [111] - The company anticipates continued depressed margins in the Biologics segment for Q4 due to ongoing operational challenges [57] Other Important Information - The company recorded a goodwill impairment of $210 million related to its Consumer Health business [12] - A material weakness in internal control over financial reporting was identified, leading to a reevaluation of financial processes [14][15] Q&A Session Summary Question: Expectations for Biologics segment in Q4 - Management expects a decline in Biologics revenues in Q4 compared to Q3 due to lower COVID revenue and ongoing operational challenges [61][62] Question: Update on gene therapy customer conversations - Management indicated that they are working collaboratively with customers to improve working capital efficiency and cash flow generation [67][89] Question: Clarification on cost reduction targets - The $100 million cost reduction target includes remediation costs, with progress being made on headcount reductions and other actions [94] Question: Impact of the $26 million revenue correction - The $26 million correction from fiscal 2022 has been accounted for and will not impact fiscal 2023 financial statements [98] Question: CapEx and capacity alignment - Management stated that current capacity is capable of delivering estimated revenues, but they are pulling back on CapEx due to mismatches with revenue expectations [135]

Results for the three months ended March 31, 2023 compared to the three months ended March 31, 2022 were as follows: | --- | --- | |------------------------------------------------------------|------------------------------------------| | Net Revenue | 2023 vs. 2022 Three Months Ended | | Year-Over-Year Change | March 31, Net Revenue | | Organic | (19) % | | Impact of acquisitions | 2 % | | Constant-currency change | (17)% | | Foreign currency translation impact on reporting | (2) % | | Total % change | (19 ...

Company Participants Hello, everyone, and welcome to the Catalent, Inc. Second Quarter Fiscal Year 2023 Earnings Conference Call. My name is Emily, and I'll be moderating your call today. [Operator Instructions] Please see our agenda for today's call on Slide 2 of our supplemental presentation, which is available on our Investor Relations website at investor.catalent.com. During our call today, management will make forwardlooking statements and refer to GAAP and non-GAAP financial measures. It is possible t ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ______________________________ ý QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 31, 2022 or ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 001-36587 (Commission File Number) Catalent, Inc. (Exact name of registrant as specified in its charter) _____________________________ Delaware 20-8 ...

Catalent. Forward-looking statements 2 Management measures operating performance based on consolidated earnings from operations before interest expense, expense/(benefit) for income taxes, and depreciation and amortization, adjusted for the income or loss attributable to non-controlling interests ("EBITDA from operations"). EBITDA from operations is not defined under U.S. GAAP, is not a measure of operating income, operating performance, or liquidity presented in accordance with U.S. GAAP, and is subject to ...

Catalent, Inc. (NYSE:CTLT) Q1 2023 Earnings Conference Call November 1, 2022 8:15 AM ET Company Participants Paul Surdez - Vice President, Investor Relations Alessandro Maselli - President & Chief Executive Officer Tom Castellano - Senior Vice President & Chief Financial Officer Conference Call Participants Tejas Savant - Morgan Stanley Sean Dodge - RBC Capital Markets Dave Windley - Jefferies Derik De Bruin - Bank of America Max Smock - William Blair Justin Bowers - Deutsche Bank John Sourbeer - UBS Jack M ...