NEW YORK – Catalent, Inc. (NYSE: NYSE:) on Thursday reported better-than-expected fourth-quarter results, with earnings and revenue beating analysts’ estimates while the company saw strong growth across all of its segments.
The contract drugmaker reported adjusted earnings per share of $0.65 for the quarter ended June 30, beating analysts' consensus of $0.47. Revenue came in at $1.3 billion, up 23% from a year earlier and above expectations of $1.22 billion.
“I am pleased to report that Catalent ended its fiscal year 2024 in a strong position, including non-COVID-related revenue growth of nearly 30% in the fourth quarter,” said Alessandro Maselli, President and CEO of Catalent.
The company’s biologics segment experienced particularly strong growth, with revenue up 51% year-over-year to $605 million. Revenue from the pharmaceutical and consumer health segment increased 7% to $697 million.
Adjusted EBITDA for the quarter more than doubled to $305 million from $122 million in the year-ago period. Adjusted EBITDA margin widened to 23% from 12% a year ago.
For the full fiscal year 2024, Catalent reported net revenue of $4.38 billion, up 3% from fiscal year 2023. However, the company posted a net loss of $1.04 billion for the year, largely due to goodwill impairment charges.
Catalent is in the process of being acquired by Novo Holdings in a $16.5 billion deal announced earlier this year. The transaction is expected to close by the end of 2024, subject to customary closing conditions.
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