Neogen Corp (NEOG) surged 32.38% during intraday trading on Thursday, driven by its better-than-expected second-quarter financial results and an upward revision of its full-year guidance.
The company reported Q2 revenue of $224.691 million, surpassing the IBES estimate of $207.3 million and the FactSet estimate of $207.7 million. Adjusted earnings per share came in at $0.10, beating the consensus estimate of $0.06. Neogen also raised its FY 2026 revenue outlook to $845-855 million (from $820-840 million) and adjusted EBITDA guidance to $175 million, signaling confidence in its growth trajectory.
CEO Mike Nassif attributed the improved performance to cost-cutting initiatives and operational efficiencies, which are beginning to yield results despite macroeconomic headwinds. The market responded positively to the company's strategic progress and optimistic outlook.