Embecta Corp. (NASDAQ:EMBC) Q2 2024 Results Conference Call May 9, 2024 8:00 AM ET Company Participants Pravesh Khandelwal - Vice President & Head of Investor Relations Dev Kurdikar - President, Chief Executive Officer & Director Jake Elguicze - Senior Vice President & Chief Financial Officer Conference Call Participants Marie Thibault - BTIG Kallum Titchmarsh - Morgan Stanley Ryan Schiller - Wolfe Research, LLC Operator Welcome, ladies and gentlemen, to the Fiscal Second Quarter 2024 Embecta Earnings Confe ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: March 31, 2024 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-41186 EMBECTA CORP. (Exact name of registrant as specified in its charter) Delaware 87-1583942 (State or othe ...

FOR IMMEDIATE RELEASE Embecta Corp. Reports Second Quarter Fiscal 2024 Financial Results PARSIPPANY, N.J., May 9, 2024 (GLOBE NEWSWIRE) – Embecta Corp. ("embecta" or the "Company") (Nasdaq: EMBC), a global diabetes care company, today reported financial results for the three and six month periods ended March 31, 2024. "Our performance in the second quarter and fiscal first half of 2024 underscores the resiliency of our base business, as well as strong operational execution by our global team. Since our spin ...

PARSIPPANY, N.J., May 01, 2024 (GLOBE NEWSWIRE) -- Embecta Corp. ("embecta") (NASDAQ:EMBC), a global diabetes care company with a 100-year legacy in insulin delivery, today announced that management will participate in the following investor events: 2024 BofA Securities Healthcare Conference Management will host a fireside session on Thursday, May 16, 2024, at 10:00 a.m. Pacific Time (PT) at the Encore Hotel in Las Vegas. Audio webcasts of the presentations will be accessible under the "News & Events" secti ...

PARSIPPANY, N.J., April 23, 2024 (GLOBE NEWSWIRE) -- Embecta Corp. (“embecta”) (Nasdaq: EMBC), a global diabetes care company with a 100-year legacy in insulin delivery, will host a conference call to discuss its fiscal second quarter 2024 financial results, provide an operational update, and host a question and answer session, at 8:00 a.m. Eastern Time (ET) on Thursday, May 9, 2024. Those who would like to participate may access the live webcast here, or access the teleconference here. The live webcast can ...

PARSIPPANY, N.J., March 06, 2024 (GLOBE NEWSWIRE) -- Embecta Corp. ("embecta") (NASDAQ:EMBC), a global diabetes care company with a 100-year legacy in insulin delivery, today announced its sponsorship of a symposium at the Advanced Technologies & Treatments for Diabetes (ATTD) international conference. This event is scheduled for Wednesday, March 6, at 10:40 a.m. Eastern Standard Time / 14:40 Central European Time. Additionally, six embecta-sponsored abstracts focusing on injection and insulin pump therapie ...

Here are three stocks with buy rank and strong value characteristics for investors to consider today, February 12:Xerox Holdings Corporation (XRX) : This workplace technology company carries a Zacks Rank #1, and has witnessed the Zacks Consensus Estimate for its current year earnings increasing 16.4% over the last 60 days.Xerox Holdings Corporation has a price-to-earnings ratio (P/E) of 8.99 compared with 12.40 for the industry. The company possesses a Value Score of A.Embecta Corp. (EMBC) : This medical de ...

Shares of Embecta (EMBC.V -14.58%) were tanking on Friday, falling 13% lower as of 10:54 a.m. ET. The decline came after the diabetes care company reported its fiscal year 2024 first-quarter results.Despite the big sell-off, Embecta reported positive Q1 results. The company generated revenue in the quarter of $277.3 million, up 0.6% year over year and better than the average analysts' estimate of $264.9 million.Embecta also posted earnings of $20.1 million, or $0.35 per share, based on generally accepted ac ...

Financial Data and Key Metrics Changes - In Q1, the company generated revenue of $277.3 million, representing an increase of 0.6% on an as-reported basis and a decline of 0.3% on a constant currency basis [4] - GAAP gross profit for Q1 was $185.9 million with a margin of 67%, compared to $188.8 million and 68.5% in the prior year [6] - GAAP net income for Q1 was $20.1 million, down from $35.2 million in the prior year, with diluted earnings per share of $0.35 compared to $0.61 [7] - Adjusted EBITDA for Q1 totaled approximately $90.4 million with a margin of 32.6%, down from $110.2 million and 40% in the prior year [7] Business Line Data and Key Metrics Changes - The core injection business grew by 0.5% on a constant currency basis when normalizing for non-diabetes products [4] - The insulin patch pump program has seen significant advancements, including the submission of a 510(k) application for the open loop version to the FDA [3] Market Data and Key Metrics Changes - Revenue in the US totaled $148.6 million, representing a year-over-year decline of approximately 0.5%, while international revenue was $128.7 million, equating to flat year-over-year constant currency growth [59] Company Strategy and Development Direction - The company is focused on three strategic priorities: strengthening the base business in insulin injection devices, thoughtful separation from the former parent company, and investing in growth, particularly in the insulin patch pump program [42] - The company plans to implement its ERP system and shared services capabilities in additional markets, aiming for over 85% of revenue base on its own ERP platform by the end of Q2 [56] Management's Comments on Operating Environment and Future Outlook - Management noted that while they have generally avoided major disruptions during the transition away from TSAs with BD, there is a possibility of temporary sales disruptions in specific countries [2] - The company reaffirmed its full-year 2024 financial guidance, expecting revenue to be flat to down 2% compared to 2023, with a focus on mitigating risks associated with the ERP transition [8] Other Important Information - The company has completed the legal entity transfer for its Suzhou, China manufacturing facility and anticipates resuming domestic production for the Chinese market in Q2 [57] - The company is increasing its adjusted earnings per share guidance from a range of $1.90 - $2.10 to $1.95 - $2.15 due to improvements in foreign exchange rates [47] Q&A Session Summary Question: Feedback from FDA on patch pumps and timing of approval - Management indicated that the review process is underway and they are in communication with the FDA, but they cannot comment on timing [11][54] Question: Constant currency growth expectations for the US versus internationally - Management expects growth outside the US to exceed that of the US, with international markets growing in the mid-single-digit range [23] Question: Plans for commercialization of the open-loop patch pump - The company plans a limited market release of the open-loop pump, dependent on FDA approval timing [17] Question: Clarification on ERP transition and customer ordering patterns - Management explained that customers often place orders in advance during ERP transitions to avoid stock-outs, leading to some lumpiness in orders [24][26] Question: Production environment for patch pumps and CapEx plans - The company is working with a contract manufacturer for production and has established a pilot production line, with total CapEx expected to be between $50 million to $60 million for 2024 [31][69]

Embecta Corp. (EMBC) came out with quarterly earnings of $0.61 per share, beating the Zacks Consensus Estimate of $0.45 per share. This compares to earnings of $0.96 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 35.56%. A quarter ago, it was expected that this company would post earnings of $0.42 per share when it actually produced earnings of $0.59, delivering a surprise of 40.48%.Over the last four quarters, the company ha ...