Catalent Shares Drop 25% on Q3 Earnings Delay & Expected Outlook Cut
<p><a href='https://financialmodelingprep.com/financial-summary/CTLT'>Catalent (NYSE:CTLT)</a> shares plunged more than 25% yesterday after the company said it will delay its Q3 earnings announcement, which was scheduled on May 9 (new expected date – May 15), and expects to cut its full-year guidance.</p>
<p>The company warned investors of a handful of operational challenges impacting near-term results. It quantified the impact on fiscal 2023 at over $400 million for both net revenue and adjusted EBITDA. This would imply a downward revision to the guidance of at least 8% and 32% at the midpoints, respectively.</p>

NYSE:CTLT