Categories Earnings, Health Care

Earnings Summary: Highlights of Catalent’s Q1 2024 results

Catalent, Inc. (NYSE: CTLT), a provider of delivery technologies and development solutions to the pharmaceutical industry, has reported earnings for the first quarter of 2024.

  • Net revenue was $982 million in the first quarter, which is down 4% as reported, and 6% in constant currency from Q1 2023
  • Overall organic net revenue decreased by 8% year-over-year during the three-month period
  • The company reported a net loss of $715 million for the September quarter, including non-cash goodwill impairment charges of $700 million
  • On a per-share basis, Q1 loss was $3.94, vs. breakeven in the year-ago quarter
  • Q1 adjusted net loss was $19 million or $0.10 per share, compared to adjusted profit of $61 million or $0.34 per share last year
  • Adjusted EBITDA came in at $115 million, down 38% as reported, and 39% in constant currency, compared to last year
  • For fiscal 2024, the company expects net revenue to be in the range of $4.30 billion to $4.50 billion

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