Catalent Rises As Quarterly Results, Outlook Better Than Consensus

(RTTNews) - Shares of Catalent, Inc. (CTLT) are rising more than 4% in the morning trade on Tuesday after reporting better-than-expected second-quarter results. The company also provided full-year revenue outlook, that came in above the Street view.

Net income for the second quarter increased to $93 million, or $0.52 per share, compared to $77 million, or $0.45 per share, in the same quarter a year ago.

Excluding one-time items, earnings were $163 million or $0.90 per share, that beat the average estimate of 12 analysts polled by Thomson Reuters at $0.83 per share.

Revenue for the quarter increased 34% year-over-year to $1.22 billion. The consensus estimate was for $1.15 billion.

Looking forward, the company has raised its full-year guidance to $4.74 billion - $4.86 billion from $4.62 billion - $4.82 billion. The consensus estimate stands at $4.71 billion.

Catalent provides delivery technologies, and makes solutions for drugs, protein-based biologics, cell and gene therapies, and consumer health products.

CTLT, currently at $108.84, has been trading in the range of $95.43- $142.64 in the last 52 weeks.