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Dec 31, 2024
Emergent BioSolutions Q4 2024 Earnings Report
Emergent BioSolutions reported a decline in revenue and net loss for Q4 2024 compared to the prior year, with a significant drop in product sales, particularly for NARCAN and Anthrax MCM.
Key Takeaways
Emergent BioSolutions reported Q4 2024 revenue of $194.7 million, down 30% year-over-year. The company recorded a net loss of $31.3 million, reflecting a 37% improvement from the prior year. Adjusted EPS was $0.05, a significant rebound from the previous year's loss. Product sales, particularly for NARCAN and Anthrax MCM, declined, while Smallpox MCM saw strong growth.
Total revenue declined 30% YoY to $194.7 million.
Net loss improved by 37% YoY to $31.3 million.
Adjusted EPS turned positive at $0.05 versus a $0.77 loss in Q4 2023.
Smallpox MCM revenue surged 565%, offsetting declines in other product segments.
Revenue by Segment
Forward Guidance
Emergent BioSolutions expects a turnaround in profitability in 2025, with projected net income of $16M to $66M and Adjusted EBITDA in the range of $150M to $200M. The company aims to enhance gross margins and improve operational efficiency.
Positive Outlook
- Forecasting net income between $16M and $66M for FY 2025.
- Expected improvement in gross margins to 48%-51%.
- Anticipated Adjusted EBITDA in the range of $150M to $200M.
- Reduced reliance on high-cost manufacturing, optimizing operations.
- Strong product pipeline and government contracts to drive revenue.
Challenges Ahead
- Total revenue expected to decline to $750M-$850M, down from $1.04B in 2024.
- MCM Products segment revenue projected to decline from $509.8M to $435M-$485M.
- Commercial Products revenue expected to drop to $265M-$315M from $398.9M.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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