We recently published Wall Street can’t keep up with these 10 stocks on fire. Neogen Corporation (NASDAQ:NEOG) was one of the top performers on Thursday.
Neogen hit a 10-month high on Thursday, as investors praised its strong results in the recently concluded quarter, as well as its higher revenue guidance for fiscal 2026.
In intraday trading, the stock surged as high as $10.24 – a level it last reached in March 2025 – before paring its gains to end the day up 31.57% at $9.71 apiece.
This follows the release of its second quarter results for the 2026 financial year, during which the net loss was reduced by 96%, to $15.9 million, compared to $456.28 million for the same period last year. This pushed the company to a net profit of $20.4 million for the half year, compared to a net loss of $468.9 million in the first half of the previous year.
Meanwhile, second-quarter revenue fell 2.8 percent to $224.69 million from $231.26 million for the same comparable period.
Revenue over the six-month period also declined 3.2 percent to $433.88 million from $448.22 million year-on-year.
Following these results, Neogen Corporation (NASDAQ: NEOG) raised its full-year 2026 revenue outlook to a range of $845 million to $855 million, up from $820 million to $840 million previously.
Adjusted EBITDA is also expected to reach $175 million, the high end of its previous guidance.
“I am exceptionally proud of the Neogen team as we launched the first phase of our strategic transformation with early work focused on stabilizing and strengthening our core business. Although it is still early in the process and our industry is currently facing macroeconomic challenges, our team delivered significant sequential improvement in core revenue growth and profitability in the second quarter,” said Mike Nassif, President and CEO of Neogen Corporation (NASDAQ: NEOG).
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Disclosure: None. This article was originally published on Initiated Monkey.
