Catalent Shares Jump As Investors Cheer Revised, Better Than Expected FY22 Outlook

  • Catalent Inc CTLT reported Q3 FY22 sales of $1.27 billion, +21% Y/Y as reported, or 23% in constant currency, edging out analysts' average expectation of $1.22 billion.
  • Adjusted EPS of $1.04, compared to $0.82 last year, surpassed the consensus of $0.94.
  • Adjusted EBITDA was $339 million, or a margin of 27%, compared to $274 million (26%) a year ago.
  • Biologics segment sales increased 30% cc to $698 million.
  • Softgel and Oral Technologies segment revenues of $324 million were up 37% cc.
  • The Oral and Specialty Delivery segment's sales were $154 million, a decrease of 8% cc.
  • Clinical Supply Services segment revenues improved 3% cc to $101 million.
  • Guidance: For FY22, Catalent expects revenue of $4.8 billion - $4.9 billion, better than the prior outlook of $4.74 billion - $4.86 billion and the consensus of $4.8 billion.
  • It expects adjusted EBITDA of 1.265 billion - $1.305 billion, compared to $1.25 billion - $1.30 billion expected earlier.
  • The Company forecasts an adjusted net income of $665 million - $705 million, better than the $650 million - $700 million anticipated earlier.
  • Price Action: CTLT shares are up 11.8% at $100.78 during the market session on the last check Tuesday.
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