Catalent Posts Adj. Loss In Preliminary Q1; Organic Net Revenue Down 8%

(RTTNews) - Catalent, Inc. (CTLT) posted a preliminary net loss of $715 million, or $3.94 per share, for the first quarter of fiscal 2024. Net loss included non-cash goodwill impairment charges of $700 million and incorporated the effect of a $29 million deferred tax adjustment. Adjusted net loss was $19 million, or $0.10 per share, compared to profit of $61 million, or $0.34 per share, last year. On average, 14 analysts polled by Thomson Reuters expected the company to report a loss per share of $0.14, for the quarter. Analysts' estimates typically exclude special items.

Preliminary first quarter net revenue was $982 million, decreased 4% as reported, or 6% in constant currency. Overall organic net revenue decreased by 8%. Analysts on average had estimated $939.14 million in revenue.

The company reaffirmed its previously issued financial guidance for fiscal 2024.

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