Contract drug manufacturer (NYSE: CTLT) provided some very effective medicine to its investors on Tuesday. The company's shares leaped almost 5% higher following the publication of its latest set of quarterly results. That compared quite favorably to the 1.5% gain of the S 500 index on the day.

For its fourth quarter of fiscal 2023, Catalent's revenue totaled $1.07 billion. While that was a 17% decline year over year, it exceeded the average-analyst estimate of $1.05 billion. On the bottom line, non-GAAP (adjusted) net income shrank considerably; it came in at $16 million ($0.09 per share) from the year-ago tally of $195 million. The collective prognosticator forecast was $0.11 per share.

Catalent has had numerous issues with its production lines at three factories and is seen by many to be a struggling company.

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Source Fool.com