Matthew M. Walsh
Thank you, John.
begin by with pleasure been John, work it company gracious today. be of words. and Catalent's to and me my for CFO you the acknowledging It be to part sincere great Let and Catalent you, to John's has transformation of is
and Wetteny. between starting detailed slide Softgel Catalent and tenured I admire And forward my respect. segment leave I job, the to beginning and overall and a financial happy successor know financial with I Please myself X with team to on our While a look to transition I'm also to new performance, be a in position strong that seamless more business. turn I discussion expect for that
in constant As around a growth will segment my reminder, currency. be commentary
$XXX.X of of during grew revenue XX%, the Softgel with driven growing quarter, at Accucaps. EBITDA which is million X% the acquisition by primarily
fiscal to business our percentage points continued conventional current well is expectations Canada-based We the high-potency of the manufacturer year points above second growth XXXX. softgel EBITDA of the and segment's X segment's year, pharmaceutical Accucaps the a to the to reminder, and percentage acquired business during quarter In growth. over-the-counter, and and developer revenue the a perform As of the contributed products. XX third quarter fiscal
in increased product Excluding at line, business the within Asia revenue at the in the a health Slower EBITDA was acquisition, decrease consumer but due line, X% revenue the lower the revenues our Pacific. Softgel quarter. X% declined organically a settlement to volumes historical by driven organic business in participation recorded contract and
portion biologics in well that as forms. is contributed site part growth long-term prior X. which excluding a Softgel and DDS during to strategy the EBITDA to the with half Latin fast network of prior is services, adding Bloomington million, Catalent business. of Catalent Catalent Our immediate strong as site in up Biologics strengthen Softgel prospects our second percentage $XXX.X we XX% the segment's business, protein through EBITDA have the a about finished capabilities the A good slide solutions growth transaction, acquisition, revenue commercial In start. recorded continue will of and driven The that the revenue growth in in and including variety the acquisition the EBITDA of expression note position supply. helps American Drug off with update year family, adding feel the above This XX% expect on the the growth. revenue formulation its syringe one our biologics modestly was versus was EBITDA sterile the be dose major formulation, prior of provide of sizable levels quarter. It's October revenue combined and the Cook the first Solutions that and in as fill And biologics and segment for leader during manufacturing fill/finish And year, pre-filled North fiscal cartridges, gaps to which sterile by The to percentage of line of Pharmica U.S.-based points continue integrated performed supply in this XX levels. this its as lyophilization, quarter segment finished products to Pharmica to XX year. closed business this points Bloomington prior-year not in already to filling, at the able are development, XXXX. our acquisition, growing American in the the we businesses of Delivery The capabilities. perform to and to important did of to from a and vial shown analytical Accucaps Cook and by we The development,
of accelerates biomanufacturing manufacturing strong in extending our network. numbers, As the we're the seeing the of for significantly clinical growth site the business Bloomington and already existing commercial by Biologics across capacity the acquisition
consolidated legacy calculate filed facility our reminder, to year the of our XXXX, the fastest-growing remains strong XX, entities' information within percentage Pharmica Catalent's by of see the acquisition expected Madison the we fiscal business growth for recorded important and Biologics biologics Recent revenue. during our clinical we it with to is SEC pro approximately and quarter, completion combined to growth in organic on Catalent. larger of second into continue Cook programs. translate how pro comprised forma driven of EBITDA a and forma Please revenue. October increase milestones We project the the since X-K the XX% that As business Form XX% XXXX revenue biologics and concerning investments at revenue
future within signings positioned business. growth, The end strong portion that demand margin believe business is Triphase continue and our the for Grid delivery business indicated favorable Roche, had release controlled with business to drive development U.S. another DDS offerings We to Moderna of as quarter high AG, of Accelerator, whole Therachon Biologics Therapeutics, well by Therapeutics. our market
year fiscal a normal the occurred maintenance was by being Our the to shutdown also was quarter strength the this strong driven second the year. quarter in European a of This of facility, portion significant fiscal of but of business XXXX which had prefilled quarter, syringe Brussels moved third the timing-related.
Our during fundamentals remainder volumes market expect this offering attractive to segment of blow-fill-seal processes enhance we fiscal to to were technology. results continue below continue revenue experienced and which period at sterile taking protocols us the challenges, recorded Strategically, high-margin quarter from that to year. operational fill lower participation the steps the The remain and site, quality this resulting product manufacturing also and declines throughout the the our key due prior-year during in quarter. for second
highlighted start dynamic fiscal of You year the fiscal this we headwind as year. will recall, a during XXXX the
insight carry NPIs. disclosing into which as additional introductions incorporated the development our into our Softgel and into business, which Technologies already we're and Drug Solutions, as long-cycle number guidance this these new NPIs, well from of both communications. been or declines Delivery quarters has of revenue to includes year, product long-cycle our revenue In to expect order We provide remaining
only reminder, do we business, indicators As can predict them. are ultimate or success these commercial we marketing the nor directional control of a not metrics of these since products, the of sales our
we months of six XXXX, fiscal which development with revenue the in For period year. of the $XX same million, line XX, is recorded ended revenue in recorded the development December prior the
is which the introduced first of on products, of XXX first we and is months launched $XX the which lower of revenue of are aligned contribute In months based new expected six year. addition, fiscal This in the launches year, this timing XX% the million NPIs to contribution last with our of year. six than revenue, during plan
line be We long-term fiscal with and our XXXX contribution launches revenue expect our to outlook. in year the growth NPI
vary of our the As in given type on at launches, and the in by which period regulatory any a revenue of customers, NPIs the thus, approvals the to contribution timing product number quarter. or discretion often figures driven continue depends quarter to reminder, of these and our corresponding will customers' are
our X, quarter storage driven Supply half segment's the across activity storage slide second prior XX% business. Services compared sourcing and the utilization project and the year, of activity quarter $XXX.X our core and increased by our Clinical growth. Now, XX% shown network. which revenue primarily was approximately of the capacity prior segment the services million, the to across customer by contributed year, as driven the distribution on Low-margin posted to in improved revenue distribution up comparator increased Segment second business services EBITDA revenue compared growth core
of comparator the contributed the quarter the growth. Given activity, low-margin segment's modestly sourcing it second to EBITDA
organic. recorded revenue of All the within was and growth CSS EBITDA the segment
December for the segment CSS The new million quarter, recorded net a sequential decrease. the $XXX wins segment during second of XXXX, decrease million, backlog XX, an $XX our As representing of year-over-year. business XX% was X%
trends to These are ratio backlog fiscal second the in year, faster and was book-to-bill the first a below higher half a historical due as by of of recorded burn recent XX-month levels organic second of during growth The quarters. X.X. evidenced first the the trailing expected than indicators
and the an a the the or growth is revenue our and to on growth drivers I by fiscal quarters constant the in growth revenue compared our second EBITDA, as months which provides X% same constant on reporting We've period, organic as ago results and the consolidated Additionally, two of GAAP proximate growth out period year. results which X% year-to-date continuing of This fiscal more as across XX% long-term quarter precisely segment, as segments. show three the slide. the XX reporting second in revenue organic first is was of shown figures bridge year-to-date XX computation Slide cover assist variance in most currency. objective The tempered adjusted this results information. contains comparable EBITDA on per our our the similar The currency the on of performance won't reconciliation since expect currency is will which growth, half year. given year-over-year segments, shows six-month strong the performance detail on next slide well the of in slide segment prior-year year, posted we XX. the Slide our revenue statement operating XX constant next XX% above to tying a to last reported the income the results year format year-to-date reported same discussed to basis nicely all from EBITDA already reference both in earnings from operations. parallel slide measure, in detailed XX this
higher a reconciliation format. reconciliation year ago. more adjusted includes of your is EBITDA This Supplemental from periods. the attention slide second the operations draw a on diluted you $X.XX essentially adjusted share we've per was driven XX% per in of Supply non-GAAP net to share also important adjusted end $XX.X constant deck, second by slide income increased million item in Clinical to section On the which diluted XX, adjusted to seen across or version the to income in moving basis, of see $X.XX quarter the detailed So, is currency net segments. and same Solutions on quarter Information was income at performance the adjusted adjusted I adjusted Services At XX, net want second million than earnings summarized which shows compared second A can One or this organic of that to EBITDA quarter tax Delivery $XX.X slide. the in the included a slide reconciliation XX%, slide EBITDA quarter $XXX.X to million. prior add-back, of add-backs Drug is EBITDA our strong increased XX%
the $XX quarter, recorded provision charge During legislation. a million U.S. our tax net the onetime an as within estimate of of tax recent we of net income impact second accounting
funded and charge this NOLs. will be cash. cash period We of expect less eight-year generated certain be U.S. with after considering paid than payment the of in made be an use one-fourth over The to will
provide Given require prepared on XXXX allocation priorities. capitalization next the color our the tax of of XX table Slide remarks. effective more note of the months. important recorded section these during reform on that provisional during rate the adjustment and may we tax shows the quarter, our forward-looking to it's estimate FY significant over XX I'll impact complexity it the guidance capital
net December a total basis Our of the as XX to on reported to leverage ratio added X.X times acquisition. during due Cook was the incremental Pharmica fund debt quarter the partially
be our basis than rather that the calculate pro we months ratio recorded at below earlier, total acquisition, Cook mentioned months to a business, as the forma Pharmica X.X prior forma of the acquisition the is X.X will earnings of ratio net the on which full pro own the nicely two only However, include the total ratio leverage John leverage the times would we announcement. a for for net X.X XX of quarter times, time discussed which during leverage and times our
We to plus given generating than be pre-transaction entity, to XX Catalent faster months to we Cook the previously strong ability down combined able believe free continue Pharmica, back the flow of we cash the that levels will communicated. de-lever,
term X.XX%, XX as LIBOR the rate and price Concurrently, new a completed of loans rate; our loans principal extend U.S.-dollar-denominated and plus September proceeds Cook U.S.-dollar-denominated portion with In equity applicable the is XXXX. X.XXX%. upfront $XXX interest term maturity which is for As applicable of very which years our basis coupon three term X.XX%, million the previous successful the quarter. to euro-denominated The the of rate U.S.-dollar-denominated lower the of XX. to XX issuance, is attractive during per with as amendment debt is on rate the than rate. mid-October, the term points reminder, The is of The on debt issued the for our credit and an the for points used new lower acquisition, issuance, well year. the our term $X closed the plus loans we the to facilities of the were Euribor secured to basis lower floor which euro-denominated purchase October fund from issuance, annualized to senior a also for senior the we approximately notes, million expense X% company along eight-year the proceeds savings the aggregate re-pricing previous interest a amount refinanced loans, loans cash subject from we than on-hand
currently lowered nothing also revolver, of it. rate We although, we our on drawn the the have extended maturity interest and
allocation and Finally, unchanged organic provide capital for to which year the our our remain continued strength I'll priorities fiscal in now on focus reflects outlook underlying first foremost business. updated growth. XXXX, financial the
revenue As full-year seen expect the on to range slide XX, billion of $X.XX $X.XX billion. in we
full-year the million of full-year million $XXX income range expect $XXX net million. in to We the $XXX to of range adjusted adjusted in $XXX EBITDA million and
that We the expect of million on capital share $XXX in fully $XXX our year of range the range XX, will in XXXX, to million million shares. expenditures; diluted average and XXX expect to basis for the of June we count a weighted fiscal XXX be million ending
addition calendar revenue, on provided tax adjusted at income, given of net EBITDA we legislation clarity consolidated to effective year on just tax XXXX. rate, adjusted and end In provide we our the the the to guidance signed some wanted also
to due year rate change. the to of and XX.X% U.S. XXXX of expect tax As rate we a consolidated impact effective the tax XX%, partial between rate FY XX.X% result the be to corporate our decreasing
tax to FY XX%. guidance. XX% walk between rate we our our guidance As our XXXX be prior revised we enter Slide XXXX to expect and shows consolidated the effective XX XXXX from FY and FY beyond,
perspective. bar base shows of net business change a first from the The set
areas: see the out-of-the-gate major Accucaps release quarter strong. business and as our XXXX; business; we which, Within mentioned, Pharmica Biologics the the controlled business; our base third Madison business, in to core of acquisition across Cook U.S. FY acquired four continue we the strength is
in The second shows to our business impact the the bar CSS set of comparator increasing volume lower-margin revenue from within segment. our
revenue should a strengthening relation last EBITDA, The and adjusted an we're result our expect, brackets translation dollar. business. immaterial revenue the to of EBITDA FX nature on in the sterling consolidated the continued additional this we impact adjusted have of bars impact and of given However, set low-margin U.S. the euro as positive seeing the pound the increase, to
business our the seasonality the let remind everyone expected Additionally, me highlight our quarterly year. in and progression through of
fiscal first our of generally in any generally by quarter discussed EBITDA call to XX% the several realize to we'd years year the being our the our fiscal by quarter the half of XX% As year strongest be for of XXXX of in year for to year open we Operator, the the is lightest with EBITDA this will adjusted second of expect fiscal any first of fiscal far, case our year where and like adjusted the questions. half fourth continue now, far, quarter approximately in and of the now the year.
