Catalent reports bigger-than-expected loss on production challenges
2023.06.12 07:30
© Reuters. FILE PHOTO: The logo of the Catalent plant is seen outside their location where millions of doses of the AstraZeneca coronavirus disease (COVID-19) vaccine were reportedly found in Anagni, Italy, March 24, 2021. REUTERS/Yara Nardi
(Reuters) -Catalent Inc on Monday posted a bigger-than-expected loss for the third quarter, hurt by persistent production challenges at the contract drug manufacturer’s major facilities.
The company had delayed its quarterly results report thrice in less than a month, bruised by a series of missteps at its Indiana and Brussels facilities.
Last month, Catalent (NYSE:) promised to take corrective steps and said it had changed the financial directors at the facilities facing the biggest challenges, besides naming a new interim CFO in April.
Excluding items, it reported a third-quarter loss of $17 million, or 9 cents per share, compared with an adjusted profit of $188 million, or $1.04 per share, a year ago. Analysts on average had expected a loss of 3 cents, according to Refinitiv data.
