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Sep 30, 2024
Embecta Q4 2024 Earnings Report
Reported strong fourth quarter and end to fiscal year, exceeding expectations across key financial metrics and executing strategic priorities.
Key Takeaways
Embecta Corp. reported a strong fourth quarter with revenues up 1.5% to $286.1 million. The company is discontinuing its insulin patch pump program and initiating an organizational restructuring plan to streamline operations and reduce costs. They anticipate pre-tax charges of $35 million to $45 million in fiscal year 2025 related to the restructuring plan and expect annualized pre-tax cost savings of $60 million to $65 million.
Reported Revenues of $286.1 million, up 1.5%.
Adjusted Revenues of $290.2 million, up 4.1% on an adjusted constant currency basis.
Net income of $14.6 million and earnings per diluted share of $0.25.
Announced a dividend of $0.15 per share.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
For fiscal year 2025, excluding the patch pump program, the Company expects Reported Revenues between $1,093 million and $1,110 million, Adjusted Gross Margin between 63.25% and 64.25%, Adjusted Operating Margin between 29.00% and 30.00%, Adjusted Earnings per Diluted Share between $2.70 and $2.90, and Adjusted EBITDA Margin between 35.50% and 36.50%.
Positive Outlook
- Adjusted Gross Margin between 63.25% - 64.25%
- Adjusted Operating Margin between 29.00% - 30.00%
- Adjusted Earnings per Diluted Share between $2.70 - $2.90
- Adjusted EBITDA Margin between 35.50% - 36.50%
Challenges Ahead
- Reported Revenues between $1,093 million - $1,110 million
- Reported Revenue Growth (%): (2.7)% - (1.2)%
- Impact of F/X (%): (0.6)%
- Impact of Italian Payback Measure (%): 0.4%
- Adjusted Constant Currency Revenue Growth (%): (2.5)% - (1.0)%
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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