Catalent Gains 5% on Q4 Beat & Agreement With Elliot 
<p><a href='https://financialmodelingprep.com/financial-summary/CTLT'>Catalent (NYSE:CTLT)</a> announced Q4 earnings that surpassed expectations and provided guidance that exceeded analyst predictions. As a result, shares gained more than 5% intra-day today. </p>
<p>The release of the earnings report coincides with the introduction of a new committee that will carry out an extensive evaluation of the company's business operations, strategy, and capital allocation priorities.</p>
<p>Additionally, Catalent has reached a cooperation agreement with activist investor Elliott Investment Management, resulting in specific standstill provisions. John Greisch, the former CEO of Hill-Rom and a senior adviser to TPG Capital, has been appointed as the Executive Chair of the Board. The company's Board of Directors will see the addition of four new independent members: Steven Barg, Frank D’Amelio, Stephanie Okey, and Michelle Ryan – all nominated by Elliott.</p>
<p>Catalent reported quarterly revenue of $1.07 billion, reflecting a year-on-year decrease of 19%, though surpassing the projected $1.05 billion.</p>
<p>Looking ahead, Catalent anticipates its revenue for fiscal 2024 to range between $4.3 billion and $4.5 billion, exceeding the Street estimate of $4.26 billion.</p>

NYSE:CTLT