Catalent Earnings: Robust Non-Covid-19 Sales; Novo Holdings Acquisition Remains on Track to Close
Catalent reported strong fiscal-year 2024 results, highlighted by fourth-quarter revenue of $1.3 billion, representing a 23% increase compared with the prior-year period. Non-covid-19 revenue grew by nearly 30% in the fourth quarter thanks to robust demand across the biologics segment. Fourth-quarter fiscal 2024 adjusted EBITDA was $305 million, or 23% of net revenue, compared with $122 million, or 12% of net revenue, in the fourth quarter a year ago. Catalent’s rebounding performance underscores our positive view of the company’s drug manufacturing services.