On Tuesday, Neogen Corporation (NASDAQ:NEOG) shares are trading lower after the company reported worse-than-expected third-quarter 2024 earnings and cut 2024 guidance. The company reported sales of $228.8 million, up 4.8% year over year, missing the consensus of $230.01 million. Core revenue growth was 6.2%. Neogen’s third quarter adjusted EPS was $0.12 flat Y/Y but below the consensus of $0.14. Gross margin was 51.1% in the third quarter of fiscal 2024, compared to 49.5% in the same quarter a year ago. This increase is primarily due to increased sales of higher-margin products in the Company’s Food Safety segment. Third-quarter Adjusted EBITDA was $52.7 million, representing an Adjusted EBITDA Margin of 23.0%, compared to $51.3 million and a margin of 23.5% a year ago.  This drop in margin was ...