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Jun 30, 2024
Embecta Q3 2024 Earnings Report
Embecta's business performed in alignment with expectations, generating strong margins and advancing strategic priorities.
Key Takeaways
Embecta Corp. reported a decrease in revenue by 4.8% to $272.5 million for the third quarter of fiscal year 2024. Despite the revenue decrease, the company demonstrated strong gross, operating, and EBITDA margins. They are also tightening and raising their fiscal 2024 outlook for certain financial metrics.
Revenues decreased by 4.8% on a reported basis, and 3.9% on a constant currency basis, totaling $272.5 million.
Gross profit reached $190.1 million with a margin of 69.8%, compared to $189.5 million and 66.2% in the prior year period.
Operating income increased to $55.9 million with a margin of 20.5%, compared to $51.3 million and 17.9% in the prior year period.
Net income was $14.7 million, resulting in earnings per diluted share of $0.25, compared to $15.2 million and $0.26 in the prior year period.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
For fiscal year 2024, the company expects revenues between $1,111 - $1,116 million, adjusted gross margin between 65.25% - 65.50%, adjusted operating margin between 25.75% - 26.00%, adjusted earnings per diluted share between $2.30 - $2.35, and adjusted EBITDA margin between 31.25% - 31.50%.
Positive Outlook
- Revenues are expected to be between $1,111 and $1,116 million.
- Adjusted gross margin is projected to be between 65.25% and 65.50%.
- Adjusted operating margin is anticipated to be between 25.75% and 26.00%.
- Adjusted earnings per diluted share are expected to range from $2.30 to $2.35.
- Adjusted EBITDA margin is forecasted to be between 31.25% and 31.50%.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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