NEW YORK – Catalent, Inc. (NYSE: NYSE:CTLT) reported better-than-expected fourth quarter results on Thursday, with earnings and revenue surpassing analyst estimates as the company saw strong growth across its segments.
The contract drug manufacturer posted adjusted earnings per share of $0.65 for the quarter ended June 30, beating the analyst consensus of $0.47. Revenue came in at $1.30 billion, up 23% year-over-year and above expectations of $1.22 billion.
“I am pleased to report that Catalent ended our fiscal 2024 in a strong position, including growing non-COVID revenue by nearly 30% in the fourth quarter,” said Alessandro Maselli, President and CEO of Catalent.
The company’s Biologics segment saw particularly robust growth, with revenue increasing 51% year-over-year to $605 million. The Pharma and Consumer Health segment revenue rose 7% to $697 million.
Adjusted EBITDA for the quarter more than doubled to $305 million, compared to $122 million in the same period last year. The adjusted EBITDA margin expanded 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 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 towards the end of 2024, subject to customary closing conditions.
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