Neogen (NEOG) Q1 FY27 earnings call

Neogen is moving from stabilization to scaling, and the quarter's headline strength is flattered by timing, so the first-half view is the cleaner read on trajectory. Management is deliberately reinvesting in R&D and commercial capability, so margin expansion is pushed toward back-half efficiency gains and post-Petrifilm-transition benefits. The Petrifilm transfer and deleveraging via the genomics sale are the key milestones.