LANSING, Mich. - Neogen (NASDAQ:NEOG) Corporation (NASDAQ: NEOG), a company specializing in food safety solutions, has announced the appointment of Thierry Bernard, the CEO of QIAGEN N.V. (NYSE: QGEN, Frankfurt Stock Exchange: QIA), to its Board of Directors. The appointment is set to take effect on November 1, 2024.
Jim Borel, Neogen's Board Chair, expressed the company's pleasure in welcoming Bernard to the board, emphasizing the anticipated contribution of his extensive knowledge in science and technology to Neogen's ongoing growth. Bernard's experience includes his current role as CEO of QIAGEN, a position he has held since March 2020, as well as a 15-year tenure with bioMérieux SA, where he served as Corporate Vice President.
Neogen, known for its work in advancing global food security and animal well-being, operates in over 140 countries and is recognized as a leader in the food safety, livestock, and pet health markets. The company's focus on science and technology has led to the development of a wide range of solutions in these areas.
The addition of Bernard to Neogen's Board is part of the company's strategy to enhance its governance and leverage his leadership experience in the life sciences sector. Bernard's background aligns with Neogen's mission and market focus, potentially providing a valuable perspective to the company's board as it navigates the complexities of the food safety industry.
This information is based on a press release statement from Neogen Corporation.
In other recent news, Neogen Corporation reported total revenues of $237 million and a core revenue growth of 2% for the fourth quarter of 2024. The company's fiscal year 2025 outlook includes mid-single-digit core revenue growth and an adjusted EBITDA between $215 million and $235 million. Neogen aims to drive growth in underrepresented regions and anticipates margin expansion due to operational improvements. The company expects a decrease in capital expenditures to approximately $85 million in fiscal year 2025. Despite facing distribution and inventory issues impacting gross margins, Neogen's leadership expects recovery in the latter half of fiscal year 2025. The company is also focusing on demand generation, with significant developments in pathogen detection and its Petrifilm product line. These are among the recent developments in Neogen's growth strategy.
InvestingPro Insights
As Neogen Corporation (NASDAQ: NEOG) welcomes Thierry Bernard to its Board of Directors, investors may find additional context from recent financial data and expert analysis valuable. According to InvestingPro data, Neogen's market capitalization stands at $3.64 billion, reflecting its significant presence in the food safety solutions market.
Despite the company's strong position in its industry, InvestingPro Tips highlight that Neogen has not been profitable over the last twelve months. This aligns with the reported Basic EPS (Continuing Operations) of -$0.04 for the same period. However, analysts predict that the company will return to profitability this year, which could be a positive sign for investors considering the recent board appointment.
Neogen's revenue for the last twelve months reached $924.22 million, with a notable revenue growth of 12.37% over the same period. This growth trajectory suggests that the company's strategic initiatives, including the addition of experienced board members like Bernard, may be contributing to its market expansion.
It's worth noting that Neogen is trading at high EBIT and EBITDA valuation multiples, according to InvestingPro Tips. This could indicate that investors have high expectations for the company's future performance, possibly influenced by factors such as the new board appointment and anticipated profitability.
For readers interested in a more comprehensive analysis, InvestingPro offers additional tips and insights on Neogen. In fact, there are 6 more InvestingPro Tips available for NEOG, which could provide further valuable information for investment decision-making.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.