(Tiper Stock Exchange) – Catalenta US company active in the production and packaging of pharmaceutical products, has lowered its guidance for fiscal 2023 to reflect expected third-quarter results (including pandemic-related upstream reserves), operational challenges, higher-than-expected costs, and tighter and more disciplined forecasts.
The company now sees its revenues for the full year between $4.25 billion and $4.35 billion (versus its previous forecast of $4.63 billion-$4.88 billion) and a useful between $187-228 million (vs. previous forecast of $567-648 million).
After delaying its quarterly report twice this month, Catalent, which received a notice of delisting from the New York Stock Exchangesaid it will provide a company update for the third quarter in the call and not the full financial results as usual.