Embecta (EMBC) GlobeNewswire News Room·2025-02-06 11:30Core Viewpoint - Embecta Corp reported a decline in revenues for the first quarter of fiscal year 2025, driven by unfavorable changes in volume and foreign currency translation, while also updating its financial guidance for the year [2][10][9]. Financial Highlights - Total revenues for the three months ended December 31, 2024, were 277.3 million in the same period of 2023 [7][9]. - U.S. revenues decreased by 4.6% on both reported and adjusted constant currency bases, while international revenues fell by 6.6% reported and 5.1% adjusted [6][7]. - Gross profit was 185.9 million and 67.0% in the prior year [7][16]. - Adjusted net income was 0.65 per diluted share, compared to 0.61 per diluted share in the prior year [7][29]. Strategic Highlights - The company is on track to complete its restructuring plan related to the discontinuation of the insulin patch pump program by the end of the first half of fiscal year 2025 [2][7]. - A brand transition plan is set to launch in the second half of the fiscal year, starting in the U.S. and Canada [2][7]. - Progress is being made on GLP-1 initiatives to enhance patient access to pen needles for GLP-1 pen injectors [2][7]. Updated Financial Guidance - For fiscal year 2025, Embecta expects reported revenues to be between 1,092 million, down from previous guidance of 1,110 million [10]. - Adjusted constant currency revenue growth is anticipated to be between (2.5)% and (1.0)% [10]. - Adjusted gross margin is expected to remain between 63.25% and 64.25% [10]. Balance Sheet and Liquidity - As of December 31, 2024, the company had approximately 1.569 billion [11][19]. - The company declared a quarterly cash dividend of $0.15 per share, payable on March 14, 2025 [12][19].