Catalent Makes Strategic Move For Consumer Health Business With Bettera Deal

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  • Catalent Inc CTLT has reported Q4 sales of $1.19 billion, +25% Y/Y as reported, or 22% in constant currency, edging out analysts' average expectation of $1.14 billion.
  • Adjusted EPS of $1.16 surpassed the consensus of $1.03.
  • Adjusted EBITDA was $348 million, or a margin of 29.3%, compared to $268 million (28.2%) a year ago.
  • Biologics segment sales increased 69% (66% cc) to $603 million.
  • Softgel and Oral Technologies segment revenues of $301 million were up 3% (-1% cc).
  • The Oral and Specialty Delivery segment's sales were $186 million, a decrease of 15% (-19% cc).
  • Clinical Supply Services segment revenues improved 25% (21% cc) to $105 million.
  • Guidance: For FY22, Catalent expects revenue of $4.30 billion - $4.50 billion, versus the consensus of $4.33 billion.
  • It expects adjusted EBITDA of $1.13 billion - $1.20 billion and adjusted net income of $585 million - $650 million.
  • Concurrently, Catalent agreed to acquire Bettera Brands from Highlander Partners for $1 billion.
  • Bettera manufacturers gummy, soft chew, and lozenge segments of the nutritional supplements market. 
  • It maintains four manufacturing operations in California, Virginia, New Jersey, and Indiana.
  • The transaction is expected to close by the end of 2021.
  • Catalent held cash and cash equivalents of $896 million as of June 30, 2021.
  • Related Content: Catalent Buys Promethera's Cell Therapy Subsidiary To Scale-Up Plasmid DNA Efforts.
  • Price Action: CTLT stock is up 0.06% at $129.85 during the premarket session on the last check Monday.
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Posted In: EarningsM&ANewsGuidanceHealth CareGeneralBriefs
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