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Sep 30, 2023
Embecta Q4 2023 Earnings Report
Reported financial results for the fourth quarter and full year of fiscal year 2023 and provided initial fiscal year 2024 financial guidance.
Key Takeaways
Embecta Corp. reported a 2.7% increase in revenues to $281.9 million for the fourth quarter of fiscal year 2023. The company's operating income was $25.8 million, and net income was $6.0 million, or $0.10 per diluted share. The company also announced a dividend of $0.15 per share.
Revenues increased by 2.7% to $281.9 million, or 2.1% on a constant currency basis.
Gross profit was $181.8 million with a margin of 64.5%.
Operating income was $25.8 million with a margin of 9.2%.
Net income was $6.0 million, resulting in earnings per diluted share of $0.10.
Revenue by Geographic Location
Forward Guidance
For fiscal year 2024, the company expects revenues between $1,085 million and $1,105 million, adjusted earnings per diluted share between $1.90 and $2.10, and adjusted EBITDA margin between 29.5% and 30.5%.
Positive Outlook
- Revenue between $1,085 million and $1,105 million.
- Adjusted Gross Margin between 63.0% and 64.0%.
- Adjusted Operating Margin between 23.75% and 24.75%.
- Adjusted Earnings per Diluted Share between $1.90 and $2.10.
- Adjusted EBITDA Margin between 29.5% and 30.5%.
Challenges Ahead
- As Reported Revenue growth between -3.0% and -1.0%.
- Constant Currency Revenue growth between -2.0% and 0.0%.
- F/X impact of approximately -1.0%.
- Contract Manufacturing revenue between $0 and $5 million.
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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