Catalent Q4 Results Beat Estimates; Announces $1B Bettera Acquisition

Catalent (CTLT) reported better-than-expected fiscal Q4 and 2021 results for the period ended June 30, 2021. The company said that it has reached an agreement to acquire Bettera Holdings, a manufacturer in the nutritional supplements market, for $1 billion.

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Catalent is a global provider of drug delivery technologies and manufacturing solutions.

Fiscal Q4 2021 revenues increased 25% year-over-year to $1.19 billion, surpassing the consensus estimate of $1.14 billion.

Additionally, Q4 adjusted net income was $209 million compared to $154 million reported in the same quarter last year. Furthermore, EPS was $1.16 compared to $0.90 reported in the same quarter last year and above consensus estimates of $1.03.

Fiscal 2021 revenue was up 29% year-over-year to $4.0 billion compared to $3.09 billion in Fiscal 2020. Adjusted net income totaled $549 million or $3.04 per share, an improvement from $350 million or $2.11 per share for Fiscal 2020. (See Catalent stock charts on TipRanks)

According to Catalent CEO John Chiminski, “As we look ahead, we carry with us new knowledge, new capabilities, and strengthened partnerships, enabling us to continue to deliver products that ultimately allow people to live better, healthier lives.”

For Fiscal 2022, Catalent expects revenue to be in the band of $4.30 billion and $4.50 billion. Additionally, adjusted net income is expected to be between $585 million and $650 million.

In June, Jefferies analyst David Windley reiterated a Buy rating on the stock with a $140 price target, implying 7.44% upside potential to current levels.