Neogen(US:NEOG)2025-10-09 12:00Financial Performance - Neogen's Q1 FY26 revenue was $209.2 million, a decrease from $217.0 million in Q1 FY25[13] - Adjusted EBITDA for Q1 FY26 was $35.5 million, compared to $43.7 million in Q1 FY25, with a margin of 17.0% versus 20.1%[14] - Adjusted Net Income decreased to $9.4 million ($0.04 per share) in Q1 FY26 from $14.4 million ($0.07 per share) in Q1 FY25[15] - Core revenue growth in Food Safety segment was (1.7)%, while Animal Safety segment saw a core revenue growth of 5.8%[17] - The company's gross debt stands at $800 million, with net debt at $661 million[19] - Q1 Free Cash Flow improved by $43 million compared to the prior year[21] Strategic Initiatives and Outlook - A cost-reduction initiative is expected to yield annualized savings of $20 million[11] - The divestiture of Cleaners & Disinfectants funded a $100 million debt paydown[11] - The company reaffirms its full-year outlook with revenue projected between $820 million and $840 million and Adjusted EBITDA between $165 million and $175 million[11, 24] - A headcount reduction of approximately 10% has been implemented to align with the current operating environment[23]