Catalent Posts Wider-than-expected Q2 Loss; Revenues Down

(RTTNews) - Catalent, Inc. (CTLT) reported Friday that its second-quarter net loss was $204 million or $1.12 per share, compared to last year's net earnings of $81 million or $0.44 per share.

Adjusted net loss was $43 million or $0.24 per share, compared to adjusted net income of $122 million or $0.67 per share, in the second quarter a year ago.

Net revenue decreased 10 percent to $1.03 billion from $1.15 billion reported a year ago, primarily due to a decline in demand for COVID-19 related programs.

Analysts on average expected the company to report a loss of $0.02 per share on recenues of $1.01 billion, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

Overall, revenues fell 11 percent in constant currency, and organic net revenue decreased by 11 percent over the same period.

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