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Catalent Inc CTLT Stock Quote

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Morningstar‘s Stock Analysis CTLT

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Is it the right time to buy or sell?

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Catalent Faces Macro Headwinds; Reducing FVE to $82, but Stock Remains Undervalued Amid Selloff

Rachel Elfman Equity Analyst

Analyst Note

| Rachel Elfman |

Narrow-moat Catalent’s first-quarter fiscal-year 2023 results were negatively impacted by macroeconomic headwinds. Management dropped 2023 net revenue guidance by 7% at the midpoint, decreased adjusted net income guidance by 13%, and lowered adjusted EBITDA guidance by 7%. The declines are attributed to changes in market conditions, negative outlook received from some of their customers (cash-sensitive decisions from customers related to inventory levels), inflation, foreign exchange headwinds, and supply chain pressures. We have adjusted our model to account for these headwinds, and we have lowered our fair value estimate to $82 per share from $98. We maintain our narrow moat, stable trend, and medium uncertainty rating for Catalent.

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Key Statistics CTLT

Company Profile CTLT

Business Description

Catalent is a contract development and manufacturing organization, or CDMO. It operates under four segments: biologics, softgel and oral technologies, oral and specialty delivery, and clinical supply services. Catalent derives its revenues primarily from long-term supply agreements with pharmaceutical customers. The company provides a range of development and manufacturing solutions for drugs, protein-based biologics, cell and gene therapies, and consumer health products throughout the entire life cycle of a product from the drug development process to commercial supply. Catalent has over 50 facilities across four continents.

14 Schoolhouse Road
Somerset, NJ, 08873
T +1 732 537-6200
Industry Drug Manufacturers - Specialty & Generic
Most Recent Earnings Sep 30, 2022
Fiscal Year End Jun 30, 2023
Employees 19,000