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: June 30, 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 | --- | --- | |----------------------------------------------------------------------------------------| ...

Financial Data and Key Metrics Changes - The company generated revenue of approximately $272.5 million in Q3 2024, representing a decrease of 4.8% on an as-reported basis and a decrease of 3.9% on a constant currency basis [5][12] - Adjusted gross profit for Q3 2024 was $190.3 million with a margin of 69.8%, compared to $189.6 million and 66.3% in the prior year period [15] - GAAP net income for Q3 2024 was $14.7 million, or $0.25 per diluted share, compared to $15.2 million, or $0.26 per diluted share in the prior year [16] Business Line Data and Key Metrics Changes - The core injection business revenue declined by 4.1% on a constant currency basis compared to the prior year period, while year-to-date performance showed a stable growth of 0.4% on a constant currency basis [6][14] - Revenue in the US totaled $143.6 million, reflecting a year-over-year decline of approximately 6.7% on a constant currency basis [12] - International revenue was $128.9 million, equating to a year-over-year constant currency decline of 0.6% [13] Market Data and Key Metrics Changes - The company noted that the decline in revenue was primarily due to inventory rebalancing with distributors following ERP implementations [6][14] - The introduction of a new small pack pen needle product for GLP-1 administration is planned to launch in Germany, with expectations to expand to other countries in the future [7][30] Company Strategy and Development Direction - The company is focused on three strategic priorities: strengthening the base business in insulin injection devices, establishing operational independence, and investing for growth, particularly in the insulin patch pump program [5][8] - The company is also exploring M&A and partnership opportunities to enhance growth [5] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the stability of the core injection business despite the revenue decline, attributing it to expected inventory adjustments [6][14] - The company is optimistic about the potential benefits from the evolving GLP-1 administration methods and the introduction of new products [7][30] Other Important Information - The company is on track to complete ERP implementations and separation activities by early fiscal year 2025, with only brand transition remaining [8][9] - Cash balance at the end of Q3 was approximately $282 million, with expectations to end fiscal year 2024 with a cash balance of roughly $300 million [17][20] Q&A Session Summary Question: Can you explain the inventory valuation adjustments and their impact on gross margins? - Management clarified that the adjusted gross margin was better than expected due to inventory revaluation adjustments contributing about 550 basis points to the year-over-year increase [24][25] Question: Why is Germany the first market for the small pen needle packs for GLP-1 users? - Management indicated that Germany is a logical first market due to the prevalence of pen injectors for GLP-1 administration, and they are excited about the product launch [30][31] Question: What is the outlook for free cash flow and separation costs? - Management expects separation costs to decrease significantly from approximately $180 million this year to around $50 million next year, leading to improved free cash flow generation starting in 2025 [37][38]

Embecta Corp. (EMBC) came out with quarterly earnings of $0.74 per share, beating the Zacks Consensus Estimate of $0.48 per share. This compares to earnings of $0.69 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 54.17%. A quarter ago, it was expected that this company would post earnings of $0.43 per share when it actually produced earnings of $0.67, delivering a surprise of 55.81%. Over the last four quarters, the company ...

1 FOR IMMEDIATE RELEASE Embecta Corp. Reports Third Quarter Fiscal 2024 Financial Results PARSIPPANY, N.J., Aug 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 nine month periods ended June 30, 2024. "During the third quarter our business performed in alignment with our expectations. We generated strong gross, operating and EBITDA margins even as revenue was impacted by the expected timin ...

PARSIPPANY, N.J., Aug. 09, 2024 (GLOBE NEWSWIRE) -- Embecta Corp. ("embecta" or the "Company") (Nasdaq: EMBC), a global diabetes care company, today reported financial results for the three and nine month periods ended June 30, 2024. "During the third quarter our business performed in alignment with our expectations. We generated strong gross, operating and EBITDA margins even as revenue was impacted by the expected timing of customer orders that had positively impacted our second quarter results," said Dev ...

About embecta Contacts: | --- | --- | |----------------------------------------|--------------------------------| | | | | Media | Investors | | Christian Glazar | Pravesh Khandelwal | | Sr. Director, Corporate Communications | VP, Head of Investor Relations | | 908-821-6922 | 551-264-6547 | | Contact Media Relations | Contact IR | PARSIPPANY, N.J., July 18, 2024 (GLOBE NEWSWIRE) -- Embecta Corp. ("embecta") (Nasdaq: EMBC), a global diabetes care company with a 100-year legacy in insulin delivery, will host ...

Media Investors Christian Glazar Pravesh Khandelwal Sr. Director, Corporate Communications VP, Head of Investor Relations 908-821-6922 551-264-6547 Contact Media Relations Contact IR In "Evaluating Need for Larger Insulin Reservoir in Patch Pumps: Leveraging Retrospective Dose Data for US Adults with T2D on MDI," Eugene E. Wright Jr., M.D., Medical Director, South Piedmont Area Health Education Center, and co-authors analyzed adults with T2D on multiple daily injection therapy, estimating the number of peop ...

Media Investors Christian Glazar Pravesh Khandelwal Sr. Director, Corporate Communications VP, Head of Investor Relations 908-821-6922 551-264-6547 Contact Media Relations Contact IR In "Evaluating Need for Larger Insulin Reservoir in Patch Pumps: Leveraging Retrospective Dose Data for US Adults with T2D on MDI," Eugene E. Wright Jr., M.D., Medical Director, South Piedmont Area Health Education Center, and co-authors analyzed adults with T2D on multiple daily injection therapy, estimating the number of peop ...

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 ...