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Mar 31, 2023
Embecta Q2 2023 Earnings Report
Embecta Corp. reported financial results for the second quarter of fiscal year 2023, exceeding internal expectations.
Key Takeaways
Embecta Corp. reported a revenue increase of 0.9% to $277.1 million, driven by price and volume increases, and contract manufacturing revenue. The company is raising its guidance for key financial metrics.
Revenues increased by 0.9% on a reported basis and 4.0% on a constant currency basis, reaching $277.1 million.
U.S. revenues increased by 3.6% on both a reported and constant currency basis.
International revenues decreased by 1.9% on a reported basis but increased by 4.4% on a constant currency basis.
The company announced a dividend of $0.15 per share.
Revenue by Geographic Location
Forward Guidance
For fiscal year 2023, the Company now expects revenues between $1,101 million and $1,113 million, an adjusted gross margin of approximately 64.5%, an adjusted operating margin of approximately 28.0%, adjusted earnings per diluted share between $2.50 and $2.60, and an adjusted EBITDA margin of approximately 32.5%.
Positive Outlook
- Revenues: $1,101 - $1,113 million
- As Reported (%): (2.5%) - (1.5%)
- Constant Currency (%): 0.0% - 1.0%
- Contract Manufacturing: $7.5 - $10 million
- Adjusted Gross Margin (%): ~64.5%
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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