Catalent, Inc. (NYSE:CTLT) shares are trading up Monday after the company posted mixed third-quarter financial results.
What To Know: Catalent reported quarterly losses of 9 cents per share, versus the analyst consensus estimate of losses of 3 cents per share.
Quarterly sales of $1.04 billion beat the analyst consensus estimate of $952.66 million. This is a 18.54% decrease over sales of $1.27 billion the same quarter last year.
“We continue to make progress in addressing our previously announced operational challenges, while also completing our strategic investments in high-demand, high-growth areas and executing a company-wide cost-reduction plan,” said Alessandro Maselli, President and CEO of Catalent, Inc. “The fundamentals of our business remain strong, with durable customer demand for our global services and our talented colleagues continuing to deliver on some of the most complex and significant programs in the CDMO industry.”
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CTLT Price Action: Shares of Catalent were up 7.85% at $41.86 at the time of publication, according to Benzinga Pro.
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