Business
Embecta Corp. Reports Second Quarter Fiscal 2025 Financial Results
PARSIPPANY, N.J., May 09, 2025 (GLOBE NEWSWIRE) -- Embecta Corp. (“embecta” or the "Company") (Nasdaq: EMBC), a global diabetes care company, today reported
About this update from Embecta Corp.
[{"type":"text","content":"PARSIPPANY, N.J., May 09, 2025 (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, 2025. \"This quarter’s financial results were once again slightly ahead of our prior expectations, as our teams executed well, which included driving an acceleration in our free-cash flow generation, thereby allowing us to continue to repay debt and create additional balance sheet flexibility,\" said Devdatt (Dev) Kurdikar, President and Chief Executive Officer of embecta. Mr. Kurdikar added, \"In this challenging operating environment, we are raising key profitability metrics while maintaining our prior adjusted earnings per share guidance despite a lowered fiscal year 2025 adjusted constant current revenue guidance range and the impact of incremental tariffs. This reflects favorable projected foreign exchange rates, which are allowing us to keep our as-reported revenue guidance range largely unchanged, as well as disciplined operating expense controls and the benefit of our recently announced restructuring program. Looking ahead, we remain focused on executing our strategic priorities and look forward to sharing more at our Analyst & Investor Day on May 22, 2025.\" Second Quarter Fiscal Year 2025 Financial Highlights: Revenues of $259.0 million, down 9.8% on a reported basis; down 7.7% on an adjusted constant currency basis U.S. revenues decreased 8.4% on both a reported and adjusted constant currency basisInternational revenues decreased 11.3% on a reported basis, and 7.0% on an adjusted constant currency basis Gross profit and margin of $164.1 million and 63.4%, compared to $185.4 million and 64.6% in the prior year periodAdjusted gross profit and margin of $165.0 million and 63.7%, compared to $185.8 million and 64.7% in the prior year periodOperating income and margin of $62.9 million and 24.3%, compared to $39.2 million and 13.6% in the prior year periodAdjusted operating income and margin of $81.4 million and 31.4%, compared to $74.9 million and 26.1% in the prior year periodNet income and earnings per diluted share of $23.5 million and $0.40, compared to $28.9 million and $0.50 in the prior year periodAdjusted net income and adjusted earnings per diluted share of $40.7 million and $0.70, compare...