update structure reflects Thanks, the and X we reporting our what as we segments, structure, structure shows Biologics of start deal, former we Bloomington light our have our an structure, on made as have Delivery, view manage we Biologics strategy. structure. into Specialty like. the our well In business internally, and our related by with reporting to Delivery Slide John. Under segment of our internal align business reorganized two I Biologics changes better Drug to revised will Delivery. providing looks parallels the revised Drug Solutions segment business and the Oral which split unit operating Drug how our both
inhalers, inhaled inhaled and syringes, Specialty inhalers, Drug Delivery and products powder development segment manufacturing, vials, and and dose development intra-nasal manufacturing via for sprays. services Biologics and unit-doses, and cell-lines testing molecules; other Our encompasses injectable for dry for delivery large metered prefilled and Biologic analytical developments cartridges formats; of blow-fill-seal
for Our using Clinical is release, controlled capabilities as oral no and taste-masking such Clinical Specialty segments. purposes, segment, Supply advanced bioavailability particle Oral for processing and Delivery engineering; enhancement, technologies dose comprehensive reporting Oral Delivery, present development Drug and Services Delivery, Drug forms. Services. Softgel change Technologies, Therefore, Technologies includes and size manufacturing our Softgel solid four to or analytical Drug financial Supply formulation There segments, we Biologics
to detailed segment turn business. X discussion please Next, with a for Softgel Slide more our performance on beginning
in will around As segment currency. in my past constant calls, earnings commentary growth be
volumes X% Europe, consumer declining million in shortage to due X% calls. as declined our $XXX few with to during of Ibuprofen discussed and ingredient due active quarter high and EBITDA revenue margin North revenue America and health last and pharmaceutical the lower on product earnings the partly of Softgel lower participation segment prescription
continued quarter realized and perform part in EBITDA prior Canadian during driven Accucaps to business as the third sites. and well efficiencies Softgel the Our the the the mix product strong favorable acquired fiscal at of of by year operational quarter deal growth
health and favorable mix margin of Asia-Pacific demand in product in in post divestiture higher experienced consumer China. lower and products Australia we Additionally, Latin businesses America the for
participation drivers While these enough the were Ibuprofen product growth not and shortage. large to headwinds the to related overcome
of into Going the shortage of we expect XXXX, the the year fiscal participation quarter to headwinds Ibuprofen fiscal product first the through year year. fiscal first continue the half the to continue and for
the The period of $XXX.X finished John and and created filled as quarter. and segment’s products is Specialty substance the we forward offering commercial Biologic The result, lower through and capabilities Biologics our growth gap revenue year of of pre-filled to and dose in variety Bloomington a sterile in end and growth XXXX a and up a by all site The cartridges vial forms. points quarter, addition to revenues growth XXX businesses EBITDA rate Bloomington during its the and feel year site EBITDA major solutions XXX% expressions adding Biologics contributed fill/finish A position portion fiscal segment protein X the business. a the with already the and immediate prospects shows prior XX and XX% Bloomington supply of we our including percentage in historical XXXX supply. of mentioned Catalent and our annual our October comparable segment’s lyophilization, of in Bloomington percentage formulation, strong growing Biologics, closed formulation syringes reported acquisition, and at finished we services the that the sterile both fast expect Delivery which segments of had earlier. to revenue integrated our and our Slide filling, Biologics As newly points by drug developments this of revenue grow during sizable to provide of can acquisition revenue capabilities. U.S.-based growth good development as manufacturing pre-existing and about was EBITDA long-term driven continues which strengthens including the leader growth. biologics our million Softgel versus
of during and year quarter. project the an the we volumes represented investments fiscal already larger accelerates segment Bloomington related to Biologics up Delivery year growth legacy the seeing our substance within clinical to of EBITDA completion growth Catalent. in recorded growth fastest and translate into continued business We Biologics it strong increasing by our XX% business higher the approximately driven business. XXXX in Product fiscal Biologics strong XX% milestones European of during and growing revenue existing and XX% basis, organic As significantly acquisition the Drug the numbers, fourth Specialty quarter Biologics organic Recent programs in was in consolidated Catalent's drug remains Drug segment with in revenue of business. the On the XXXX. and are XX% the comprised site our
We positioned business believe that future growth. Biologics drive continue to our is well to
revenue online mentioned, John third is contributed quarter. complete at the suite and and during fourth the As Madison it
at the recorded results this period Additionally, steps segment was The recorded EBITDA attractive down our settlement in for complete. levels protocols based was XX% the comparable above during our Delivery in the million fill with partly site Blow-Fill-Seal we declining year of experienced product recorded largely quarter, the fiscal high Blow-Fill-Seal participation where the due XX which is with was a continue Slide during with revenue processes period. and Market year manufacturing prior taking declines and $XXX.X enhance in that fourth prior line year revenue Oral versus the fourth utilization. the that offering remain volume newly our created to technology. during the which related XX% to are key quality our increased fundamentals contractual other expectations. segment first in that sterile our of of are margin prior period quarter to in quarter shows the was quarter business Drug quarters segment three capacity to Consistent strong the year, the nicely
don’t and On product related the any material positive side, we to XXXX. in during movement fiscal quarter revenue year the participation these expect we headwinds finally lapped
Delivery, year, Europe Analytical our a of from unfavorable negative development due and on includes U.S. being revenue anticipated product the we that performance In solids the That and demand insight Europe Development show from our Oral profitability. the end-market quarter also oral in we as commercial volumes prior business, which said, did Biologics both but of for Specialty long-cycle the order impact into Drug as in experienced the revenue the Solid well for business provide additional the number our disclosing robust. third Softgel businesses, We the NPIs. were had quarter Delivery Technologies, Oral new remained fourth we’ve implemented. Services line are across within NPIs, declines and and product Drug mix volume improve which U.S. long-cycle with with The changes and introductions to to now the
As of these only of indicators a predict are these since products, marketing can sales metrics we our commercial or we not the them. ultimate control success directional of do reminder, business, the nor
across development of million For X% development the fiscal XX, molecule $XXX June XXXX, both the year. year revenue large and which prior fiscal the we in ended above recorded revenue recorded small is
In addition, fiscal million NPIs more $XX fiscal year prior XX% XXX contributed launched than is revenue in new revenue the the the introduced contribution year. we products which which in of of
driven of often will our revenue by given As vary approvals contribution quarter-to-quarter. and product a to in of depend any our or the which timing the type at on regulatory launches these the reminder, customers, and continue the are thus, figures and customers' discretion period number of corresponding NPIs
fourth during primarily as shown utilization driven a core the Services storage activity our our compared on compared which up increased year, posted the XX, across and business distribution XX% customer by Storage quarter. lower-margin the quarter to by activity fourth revenue EBITDA $XXX.X prior capacity increased Core slide partially segment and project in sourcing in Services Now, improved the Supply prior by of million growth revenue Segment year the X% network. services, Clinical comparator of the to Distribution offset and our was driven the of decline across quarter
sourcing had a in segment of it all the comparator fourth EBITDA revenue impact the growth CSS activity, EBITDA was organic. and minimal of quarter, low-margin segment the the the on Given within the recorded
which quarter The $XXX year. segment of X% net The As sequential of a the June to new segment's quarter, million recorded recorded net XX%, in have the just in $XX contains new I CSS revenue wins was XXX the was fourth of the increase wins increase. XX, that new the is XXXX, prior an trailing our revenue information. comparator It now include accounting X.X. fourth XX-month the net that business during of backlog and for note business to basis. on business million, book-to-bill slide figures is ASC for compared reference segment the net important backlog in ratio The adjusted only a wins change disclosed been next
slide the the statement both We the but year segments, cover in I drivers same results and on reported full business, the from year. the operations segment’s reporting format objective revenue right shows was organic in with XX. reconciliations of in our the have X% reporting an months highlight our fiscal as organic provide X% adjusted constant X% currency growth long-term by from of earning growth currency. assist which tying XX% XX reported figures basis in already slide. or revenue Slide per on EBITDA, operations. to as line constant to presentation will of precisely continuing EBITDA out the disclosed the slide from income detailed which growth consolidating the last XX won't our Slide the segment of XX GAAP This on proximate our next measure, on XX, is computation performance the on year I across continuing will is most various that of bridge
adjusted net seen a or On fourth by diluted This see of this the diluted supplemental $X.XX year share, the income XX%, deck $XX the slide version of add-backs EBITDA $XXX.X share compared fourth quarter shows ago. or slide at includes to on end included you same the to per essentially adjusted $X.XX from detailed to on earnings inorganic that slide format. more information also which per Moving EBITDA in a Biologics was of adjusted of continuing driven as $XX.X of On operations Bloomington the fourth fourth and adjusted summarized EBITDA XX, in the reconciliation million. increased constant income a adjusted the income quarter non-GAAP in the slide. acquisition. is net million slide net can XX% A million reconciliation to increased adjusted reconciliation and quarter EBITDA adjusted section our basis, was XX, quarter to currency all
of U.S. Additionally, estimate a provision within of Reform as charge one-time during in passed net the fiscal impact our year recorded of $XX.X Tax tax net accounting we an XXXX, income million the December.
We this expect only in $X approximately of million be cash certain the charge paid after considering to of NOLs. use
to capital it we’ve XX shows year, reiterate in important it two Given recorded priorities. of the our allocation estimate quarters. the require and that is may the significant adjustment fiscal a capitalization complexity Slide table provisional over further next the
on ratio X.X quarter. is June leverage down from we reported of times as was fiscal reported net third which total the a times, the X.X Our basis XX in
mentioned Therefore, the pro John earlier, into as July term the debt August our dollar-denominated proactively However, with Biologics level in if the closed basis, is of a leverage will leverage loan calculate on Catalent’s down lowest forma history. proceeds which acquisition and $XXX our our the taking U.S. million from we times, be on ratio pay total ratio paid offering. of account equity XX, in X.X down Juniper the acquisition, Bloomington the net you be
to going in and is is second pulled cash free adjusted have nicely approximately This most free more XX% generated I down year XX% year cash our floating the flow more net $XX of interest million above through Additionally, of than cash free adjusted yield debt than of highlight XXXX. consecutive of expensive rate the also during fiscal of expectations $XXX we year into million savings net flow million. of to which we which want will annualized marks the rate generation approximately fiscal the income. We year income strong realized pay our $XXX flow. our in the
followed foremost growth remain strategic organic focus first priorities M&A. and and allocation capital our on by unchanged Finally,
our in year Turning for to shows XX XXXX, revenue we outlook to billion billion. $X.XX full the year range that financial slide fiscal $X.X of expect
the EBITDA range $XXX We adjusted of and $XXX $XXX $XXX year full expect range million. year to million in million in full of the million adjusted net to income
million to ending fiscal We expect in weighted count expect for XX, million XXXX EBITDA Slide capital in the share determining to diluted the some $XXX for revenue average on a million the of we fully shares. and year and of considered range $XXX that fiscal adjusted basis the moving through walks of XXX expenditures, when million be our range will we year XXX June XX that pieces guidance. our
The first at base of business see XXX brackets and to assumes constant in margin points outlook we basis adjusted our currency of which bars that set growth, the stronger XXXX. long-term EBITDA the line EBITDA with assumptions to of expansion in growth. anticipated EBITDA but fiscal changes slightly These it’s our X% aligns expect X% X% year revenue to yields performance X%
X% As growth growth. remains EBITDA a long-term at reminder, our to X% outlook
set FY of the two second bars of for The year adjust acquisitions. XXXX full impact
acquisition the fiscal was in of completed QX First, Bloomington year XXXX.
quarter one we is incremental the transaction. before contribution XXXX there of lapped in year So fiscal
was fiscal expected of the this for acquisition on XXXX year EBITDA XX Juniper is months the revenue and also we contribution in XX included Second, and completed the will own August its in which asset adjustment.
of ASC set recognition bars the highlights third XXX. of related change the The to revenue impacts
quarter $XXX line This our versus now first segment with approximately gross. of the Clinical we customers impact line. within the compared effective have prior the at As generate to fiscal the treated million to EBITDA net be fiscal a year headwind means securing will year reminder, XXXX, Supply revenue we from no Services revenue the as of third-parties comparator our behalf drugs on from in of a
pound pound see with year-on-year U.S. XX-K this adjusted set dollar more to recent on a filed rate year impacts in In brackets light XXXX today. the relation driven exchange and XXXX, of euro rate we be to a X.XX sterling Argentinean X.XX. translation activity change, the later Brazilian and EBITDA assumed in the In the our last and FX and will a the smaller guidance. to on negative of by SEC sterling and Real. revenue was principally markets, average bars disclosure rate and Form the For X.XX of euro please of was of our X.XX euro in extent fiscal the the year strengthening The pound which the sterling average recent fiscal financial Peso foreign
just effective net adjusted reiterate we addition In at related legislation rate on our signed EBITDA, and of the the to revenue, given consolidated also to the end calendar income, provided XXXX. expectations our guidance to adjusted year tax tax we wanted
corporate expect statutory As a effective to decreasing result and year global between tax fiscal to of our XX%, consolidated rate XX% the XXXX tax be XX%. U.S. federal rate we
$XXX in interest be expect year. of $XXX XXXX as also result a and be down fiscal year expense debt and our million million reduced July during We $XXX the between to of pay million fiscal
our me through Let business the highlight expected remind and our of the quarterly everyone in progression year. seasonality
far, several XX% approximately EBITDA of generally years and questions. the our far. EBITDA realize to of expect by year year. year we quarter we now year generally the This to the fourth half year of where like the second in would of in half open case for As the first fiscal lightest adjusted discussed the being of our call XX% will the Operator, first XXXX our quarter the fiscal our any for is with by strongest in fiscal continue now, to quarter any be of adjusted
