By Nate Wolf
Shares of Neogen spiked Thursday after the food safety company reported stronger-than-expected quarterly results and boosted its fiscal-year guidance.
Neogen posted adjusted earnings of 10 cents a share for its fiscal second quarter, surpassing analysts' consensus estimate of 6 cents, according to FactSet. Revenue totaled $224.7 million, down 2.8% from the prior year, but ahead of Wall Street's call for $207.7 million.
The company now expects revenue of $845 million to $855 million in fiscal 2026, up from a previous forecast of $820 million to $840 million.
Neogen stock jumped 28% to $9.45 on Thursday, marking the second straight quarter shares have spiked after earnings.
The company revealed a cost-cutting plan and an unspecified number of companywide layoffs last fall, which pleased investors after three consecutive years of net losses. The stock is now up nearly 70% since the start of October, but it remains down 80% from an all-time closing high of $48.34 on April 20, 2021.
Write to Nate Wolf at nate.wolf@barrons.com
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January 08, 2026 10:44 ET (15:44 GMT)
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