Neogen Corporation is raising fiscal 2027 research and development spending by about 50% as it expands its food and animal safety pipeline and brings Petrifilm manufacturing in-house at its Lansing facility. The company expects to complete validation of the first Petrifilm SKU by the end of August 2026, with sellable production and a multi-quarter manufacturing transition beginning in November 2026, and it plans at least two Petrifilm SKU launches annually with at least five candidates identified. Neogen's Animal Safety business entered fiscal 2027 with most third-party supplier issues resolved, after fourth-quarter fiscal 2026 revenues fell 8.2% year over year while core revenues rose 0.5% and sales increased more than 7% sequentially. Neogen ended fiscal 2026 with $185.5 million in cash against about $800 million in debt, and plans to use roughly $140 million of expected net Genomics proceeds primarily for debt reduction. Over the past 30 days, the Zacks Consensus Estimate for Neogen's fiscal 2027 earnings has risen 3.3% to 31 cents, while the consensus mark for fiscal 2027 revenues is pegged at $883.2 million, suggesting a 1.5% rise from the prior year.
Neogen CorporationNeogen plans to use ~$140M of expected net Genomics proceeds primarily for debt reduction, and its FY2027 EPS estimate rose 3.3%.
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