What is the market's earnings forecast for Immucell next quarter?

What were the key takeaways from Immucell’s earnings call?

Did Immucell beat or miss consensus estimates last quarter?

What does Immucell do and what are its main business segments?

What is the revenue and EPS growth rate for Immucell year over year?

What is Immucell's gross profit margin?

What guidance did Immucell's management provide for the next earnings period?

What were the key takeaways from Immucell's earnings call?

- **Revenue Recovery**: Domestic sales up 9.5% QoQ, trailing 12-month sales +16%, despite Q3 8% YoY decline due to channel restocking.
- **Profitability Boost**: Gross margin improved to 43% (vs. 26% YoY), net income swung to $1.8M profit (vs. -$2.7M YoY).
- **Leadership Transition**: New CEO & CFO bring decades of animal health experience, driving operational excellence and customer re-engagement.
- **Growth Catalysts**: New product launches, FDA pipeline for Re-Tain, and disciplined inventory management supporting peak season readiness.

**【Management Opening Remarks】**
- The company achieved a financial turnaround in the first 9 months of 2025, with improved gross margins and operational efficiency. New leadership includes CEO Olivier Te Boekhorst (25+ years in animal health) and CFO Timothy Fiori (15 years of finance collaboration at IDEXX). The team is focused on rebuilding customer trust and expanding market share.

**【CEO Commentary】**
- Q3 2025 product sales decreased 8% YoY ($505K) due to restocking channel inventory, but domestic sales grew 2% YoY and 9.5% QoQ. Trailing 12-month sales show 16% growth ($3.9M) with an 11% CAGR over 3 years. Net income improved to $1.8M (vs. -$2.7M YoY). 
- Key priorities: operational excellence in production, regaining lost customers, and launching new functional feed products. FDA approval pending for Re-Tain mastitis treatment, with field studies underway.

**【CFO Financial Commentary】**
- 9-month net income increased $4.5M YoY, driven by 43% gross margin (vs. 26% YoY) and $543K operating expense reduction. Adjusted EBITDA reached $5.8M (vs. -$175K YoY). Inventory grew to $3.9M (vs. $3.8M Dec 2024), with $2.7M invested in inventory build for peak season.
- Margin improvement attributed to: 6% price increase, manufacturing efficiency, and scale benefits. Disciplined inventory management balances growth with cash needs.

**【Q&A Highlights】**
- **Inventory Management**: CFO emphasizes weekly sales/production planning to maintain desired levels. Colostrum WIP ($3.3M) and finished goods ($2M) at highest levels in 6+ years, but team is disciplined in managing growth.
- **Capacity Utilization**: CEO reports production now near capacity expansion goal of $30M/year, with focus on quality and consistency after past contamination issues.
- **Commercial Momentum**: Sales team re-engaging customers post-supply constraints, with positive feedback on new product launches.

ImmuCell Corporation (ICCC) Q3 2025 Earnings Call Transcript

Revenue

Sales and Services Revenue

Financing Services Revenue

Other Revenue

Cost of Revenue

Cost of Goods and Services

Cost of Financing Services

Other Cost

Gross Profit

Other Operating Income

Operating Expenses

Selling, General and Administrative Expenses

Selling and Marketing Expenses

General and Administrative Expenses

Research and Development Expenses

Loss on Bad Debts

Loss on Impairment of Other Assets

Loss on Disposal of Assets

Other Operating Expenses

Operating Income

Non-Operating Income (Loss)

Income (Loss) from Affiliates

Income (Loss) from Associates

Income (Loss) from Joint ventures

Gain (Loss) on Other Investment

Gain (Loss) on Change in Fair Value

Gain (Loss) on Foreign Currency Exchange

Other Non-Operating Income (Loss)

Net Interest Expense

Interest Expense

Interest Income

Pretax Income From Continuing Operations

Income Tax Expense

Current Income Tax

Deferred Income Tax

Income Tax Adjustments

Net Income from Continuing Operations

Income from Discontinued Operations

Other Items Before Net Income

Net Income

Net Income Attributable to Minority Interests

Net Income Attributable to Owners of the Company

Preferred Stock Dividends

Other Adjustments

Net Income Attributable to Common Stockholders

Other Comprehensive Income

Total Comprehensive Income

Total Comprehensive Income Attributable to Minority Interests

Total Comprehensive Income Attributable to Owners of the Company

Basic EPS

Basic EPS from Continuing Operations

Basic EPS from Discontinued Operations

Diluted EPS

Diluted EPS from Continuing Operations

Diluted EPS from Discontinued Operations

ICCC

ICCC fundamentals

You can ask Aime