Neogen Corp (NEOG) shares surged 7.04% in pre-market trading on Thursday following the release of its better-than-expected first-quarter earnings report. The food and animal safety products company demonstrated robust financial performance, surpassing analyst estimates and providing an optimistic outlook for the fiscal year.

Neogen reported Q1 revenue of $209.189 million, significantly exceeding the IBES estimate of $204.2 million. The company's earnings per share (EPS) came in at $0.17, marking a strong start to the fiscal year. Additionally, Neogen posted a net income of $36.338 million for the quarter, with adjusted net income reaching $9.4 million and adjusted EBITDA hitting $35.5 million.

Looking ahead, Neogen provided a positive outlook for the fiscal year, projecting revenue between $820 million and $840 million. The company also expects adjusted EBITDA to fall within the range of $165 million to $175 million. This forward-looking guidance appears to have further fueled investor confidence, contributing to the pre-market stock surge. As the market opens, investors will be closely watching to see if Neogen can maintain this momentum throughout the trading session.