- Catalent Inc (NYSE:CTLT) reported Q2 FY23 sales of $1.15 billion, which decreased 6% Y/Y as reported, or 2% in constant currency, slightly beating the consensus of $1.12 billion.
- Adjusted EPS of $0.67, compared to $0.90 last year, missed the consensus of $0.69.
- Adjusted EBITDA was $283 million, or a margin of 25%, compared to $310 million a year ago.
- Biologics segment sales decreased by 7% to $580 million on a constant currency basis.
- Pharma and Consumer Health segment sales increased by 3% to $570 million on a constant currency basis.
- Catalent has extended and expanded its manufacturing partnership with Moderna Inc (NASDAQ:MRNA) to support the manufacture of multiple Moderna products in multiple formats.
- Catalent will continue to provide drug product fill/finish services and production capacity for Moderna’s COVID-19 programs.
- The companies also plan to extend their ongoing partnership to non-COVID-19 programs such as flu and respiratory syncytial virus vaccines, starting with its manufacturing site in Bloomington, Indiana, and to be expanded to its facility in Anagni, Italy.
- Guidance: For FY23, Catalent reiterates sales guidance of $4.625-$4.875 billion compared to the consensus of $5.08 billion.
- It expects an adjusted EBITDA of $1.22-$1.30 billion and an adjusted net income of $567-$648 million.
- Most recently, Danaher Corporation (NYSE:DHR) reportedly expressed interest in acquiring Catalent.
- Price Action: CTLT shares are up 3.39% at $69.27 on the last check Tuesday.
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