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Mar 31, 2024
Embecta Q2 2024 Earnings Report
Embecta's Q2 2024 performance demonstrated resilience in its base business, driven by strong operational execution and progress in strategic priorities.
Key Takeaways
Embecta Corp. reported a 3.6% increase in revenue to $287.2 million for the second quarter of fiscal year 2024. The company is also raising and tightening its fiscal 2024 outlook for key financial metrics.
Revenues increased by 3.6% to $287.2 million, or 4.5% on a constant currency basis.
U.S. revenues increased 0.8% on both a reported and constant currency basis.
International revenues increased 6.8% on a reported basis, and 8.7% on a constant currency basis.
Net income and earnings per diluted share were $28.9 million and $0.50, respectively, compared to $14.0 million and $0.24 in the prior year period.
Embecta
Embecta
Embecta Revenue by Segment
Embecta Revenue by Geographic Location
Revenue by Segment
Pen Needles Revenue
CapyFin.comSyringes Revenue
CapyFin.comSafety Revenue
CapyFin.comOther Revenue
CapyFin.comContract Manufacturing Revenue
CapyFin.comRevenue by Geographic Location
United States Revenue
CapyFin.comInternational Revenue
CapyFin.com Forward Guidance
For fiscal year 2024, the Company now expects revenues between $1,111 million and $1,116 million, adjusted gross margin between 64.5% and 65.0%, adjusted operating margin between 25.25% and 25.75%, and adjusted earnings per diluted share between $2.20 and $2.30.
Positive Outlook
- Revenues are expected to be between $1,111 million and $1,116 million.
- Adjusted Gross Margin is expected to be between 64.5% and 65.0%.
- Adjusted Operating Margin is expected to be between 25.25% and 25.75%.
- Adjusted Earnings per Diluted Share is expected to be between $2.20 and $2.30.
- Adjusted EBITDA Margin is expected to be between 31.0% and 31.5%.
Revenue & Expenses
Visualization of income flow from segment revenue to net income