Naweed & Kamran Research
October 6, 2022

Neogen’s revenues for the first quarter were $132,349,000, compared to $128,305,000 in the prior year, an increase of 3%. Although the merger with the 3M Food Safety business on September 1, 2022, has made Neogen (NEOG) a leader in the food safety sector, it has invoked quite some leverage on the company ($1 billion in new debt and $350 million in notes with an 8.625% coupon).

Headwinds:

Currently, Neogen (NEOG) is faced with a challenging environment which includes …..

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Tailwinds

In post-pandemic world Neogen (NEOG) sees considerable opportunities to capitalize on significant tailwinds within its …..

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Neogen’s Customers and Products:

Neogen (NEOG) had 32,000 customers during the fiscal year that ended May 31, 2022. Several large companies including Coca Cola …..

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Growth Prospects

For the 31st consecutive year, Neogen (NEOG) has reported revenue increases over the previous year, a testament to its ongoing commitment to operating with a growth mindset, even as it faces hurdles. Neogen’s 22-year revenue CAGR (Compound Annual Growth Rate) is approximately 15%.

Many analysts expect Neogen’s revenue to …..

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Acquisitions

Neogen (NEOG) has been doing acquisitions to expand its portfolio of products and has made 50 acquisitions so far.  The company’s acquisition strategy is to identify and complete acquisitions that enhance …..

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Overview of Neogen’s Business:

Neogen Corporation (NEOG) and its subsidiaries develop, manufacture and market a diverse line of products and services dedicated to food and animal safety. Their Food Safety segment consists primarily of diagnostic test kits and complementary products (e.g., culture media) sold to food producers and processors to detect dangerous and/or unintended substances in human food and animal feed, such as foodborne pathogens, spoilage organisms, natural toxins, food allergens, genetic modifications, ruminant by-products, meat speciation, drug residues, pesticide residues and general sanitation concerns.