The company reported a larger-than-expected quarterly loss and cut its annual revenue forecast for the second time, but strength in its biologics unit drove quarterly sales past tempered Wall Street estimates. Catalent's "results cleared an admittedly low bar", Stephens analyst Jacob Johnson said. "After a number of shoes dropping and a lot of noise recently, today was a good first or second step." Catalent reported a third-quarter loss of 9 cents per share, compared with Wall Street estimates for a loss of 3 cents, according to IBES data from Refinitiv. The company will also amend its 2022 results filing with a $26 million deduction caused by a revenue recognition error at its Bloomington plant.

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Persons: Stephens, Jacob Johnson, Alessandro Maselli, Maselli, Catalent, Bhanvi Satija, Sriparna Roy, Devika Organizations: Novo Nordisk's, Thomson Locations: Maryland, Brussels, Indiana, Bloomington, Bengaluru