Catalent (CTLT) Reports 23% Revenue Growth

By Bobby Samwell • Thursday, August 29 15:14 • Permanent Link

Catalent, Inc. has reported its financial results for the fourth quarter and fiscal year 2024, showcasing significant growth and performance. In the fourth quarter of 2024, net revenue increased by 23% as reported, or 24% in constant currency, reaching $1.30 billion compared to the same period in 2023. The organic, constant-currency net revenue also saw a substantial 24% increase over the same period.

Excluding COVID-related revenue, the net revenue for the fourth quarter of 2024 increased by 29% compared to the fourth quarter of 2023. For the entire fiscal year 2024, net revenue increased by 3% as reported, or 2% in constant currency, reaching $4.38 billion compared to fiscal 2023. The organic, constant-currency net revenue also witnessed a 1% increase compared to the previous fiscal year.

In terms of adjusted EBITDA, the fourth quarter of 2024 saw a significant increase, reaching $305 million, which represents a 150% increase as reported and 149% in constant currency compared to the fourth quarter of 2023. For the entire fiscal year 2024, adjusted EBITDA reached $703 million, marking a 1% increase as reported or 0% in constant currency compared to fiscal 2023.

The company's biologics segment experienced a 51% increase in net revenue for the fourth quarter of 2024 compared to the same period in 2023, along with a significant improvement in segment EBITDA, which increased by 735%. The pharma and consumer health segment also demonstrated growth, with a 7% increase in net revenue and a 22% increase in segment EBITDA for the same period.

The company's net leverage ratio as of June 30, 2024, improved to 6.6x compared to 9.3x at March 31, 2024, and 6.6x at June 30, 2023.

Catalent's pending transaction with Novo Holdings A/S is expected to close towards the end of calendar year 2024, subject to customary closing conditions, and is valued at $16.5 billion.

As a result of these announcements, the company's shares have moved 1.5% on the market, and are now trading at a price of $60.7. For the full picture, make sure to review Catalent's 8-K report.

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