By Mackenzie Tatananni

Neogen hiked its fiscal-year outlook Thursday following lower quarterly revenue and a wider net loss.

The food-and-animal safety company posted a $17 million loss in its fiscal third quarter, wider than a year-ago loss of $10.9 million. Revenue ticked down 4.4% to $211.2 million, though the number edged past analysts' calls for $204.5 million.

The decline was largely driven by a 20% drop in animal safety revenue, which the company attributed to "third-party, supply-based setbacks." Neogen is "actively engaged in improving" these challenges, CEO Mike Nassif said.

The drop in revenue appeared to drag down the stock even as adjusted earnings came in ahead of Wall Street's estimates. Neogen posted adjusted profit in the third quarter of 9 cents a share, better than the 6 cents analysts had anticipated.

Shares tumbled 9.1% in premarket trading Thursday. Futures tracking the benchmark S&P 500 were down 0.3%.

A guidance hike wasn't driving the stock any higher. For the fiscal year, Neogen is targeting $857 million to $860 million in revenue, up from a previous range of $845 million to $855 million. Analysts were looking for $850.6 million.

The company cited an expectation for continued strength in its food safety segment. Revenue in the segment rose 2.6% in the third quarter.

Write to Mackenzie Tatananni at mackenzie.tatananni@barrons.com

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April 09, 2026 08:24 ET (12:24 GMT)

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