Neogen Corp. reported its strongest food safety unit growth in three years during Q4 fiscal 2026, with core food safety revenue growing 5.8%, driven by gains in pathogen testing, culture media, and bacterial sanitation products, even as overall company revenue remained flat and the company posted a net loss.
- Food safety segment generated $166.8 million in Q4 revenue with 5.8% core growth, the strongest quarterly rate since fiscal 2023
- Growth driven by gains in indicator testing, culture media, and bacterial and sanitation testing products
- Overall Q4 revenue was $225.3 million, down 0.1% year-over-year, with core revenue growth of 4.3%
- Company posted adjusted EBITDA of $45.4 million (20.2% margin) and guided toward $880-885 million revenue for fiscal 2027
- Neogen plans to transition Petrifilm manufacturing to its Lansing site starting November with first validated product by end of August
Neogen Corp. reported its highest quarterly food safety growth rate in three years for the fourth quarter of fiscal 2026, even as overall company revenue was roughly flat and the company posted a net loss.
The Lansing-based food and animal safety company said fourth-quarter revenue totaled $225.3 million, down 0.1% from a year earlier, though core revenue — which strips out currency effects and divestitures — grew 4.3%. Full fiscal year revenue reached $870.4 million, down 2.7%, with core growth of 1.9%.
The food safety segment, which includes pathogen and toxin testing widely used in poultry and food processing, generated $166.8 million in the quarter, up 3.1%. Core food safety growth hit 5.8%, the strongest quarterly rate since fiscal 2023, driven by gains in indicator testing, culture media, and bacterial and sanitation testing.
The animal safety segment posted $58.5 million in quarterly revenue, down 8.2% from a year earlier, though revenue climbed more than 7% sequentially as the company resolved most supply-related product shortages.
Neogen reported a net loss of $11.3 million, or 5 cents per diluted share, in the quarter, compared with a $612.2 million loss a year earlier that included a large goodwill impairment. Adjusted net income was $18.7 million, or 9 cents per share. Adjusted EBITDA rose to $45.4 million, a 20.2% margin, from $40.6 million a year earlier.
President and CEO Mike Nassif said the company enters fiscal 2027 with momentum and plans to focus on "disciplined execution and investment in core areas" to drive innovation and efficiency.
Neogen said it remains on track to begin transitioning Petrifilm manufacturing to its Lansing site in November, with the first validated product expected by the end of August. The company also continues working toward closing its previously announced sale of its global genomics business to Zoetis Inc., which is now under second-phase regulatory review in Australia and New Zealand.
Separately, Neogen said it secured expanded federal clearance for two insecticide products to support New World screwworm response efforts for ranchers and livestock producers.
For fiscal 2027, Neogen guided toward revenue of $880 million to $885 million and Adjusted EBITDA of $180 million to $182 million.
