NASDAQ$EMBC
Embecta Corp · Q1 2023 earnings
Q1 2023 earnings · · Investor relations
Briefing
Reported financial results for the first quarter of fiscal year 2023, exceeding initial expectations despite a challenging operating environment.
Embecta Corp. reported its first quarter fiscal year 2023 financial results, with revenues of $275.7 million, a decrease of 4.7% on a reported basis but an increase of 0.7% on a constant currency basis. The company's performance exceeded initial expectations, and they are raising their guidance for key financial reporting metrics.
- Revenues were $275.7 million, down 4.7% on a reported basis and up 0.7% on a constant currency basis.
- U.S. revenues decreased 1.1% on both a reported and constant currency basis.
- International revenues decreased 8.7% on a reported basis, and increased 2.6% on a constant currency basis.
- Net income and diluted earnings per share were $35.2 million and $0.61, respectively.
Headline financials
Revenue & EPS history
Embecta · Revenue · Quarterly
$276M
Forward guidance
For fiscal year 2023, the Company now expects revenues between $1,084 - $1,107 million, adjusted gross margin of approximately 63.5%, adjusted operating margin of approximately 26.5%, adjusted diluted earnings per share between $2.20 - $2.35, and adjusted EBITDA margin of approximately 31.5%.
Tailwinds
- Revenues: $1,084 - $1,107 million
- As Reported (%): (4.0%) - (2.0%)
- Constant Currency (%): (1.5%) - 0.5%
- Contract Manufacturing: $5 - $10 million
- Adjusted Gross Margin (%): ~63.5%
Headwinds
- F/X (%): (2.5%) - (2.5%)
- Adjusted Operating Margin (%): ~26.5%
- Adjusted Diluted Earnings per Share: $2.20 - $2.35
- Adjusted EBITDA Margin (%): ~31.5%
- We are unable to present a quantitative reconciliation of our expected adjusted gross margin, expected adjusted operating margin, expected adjusted diluted earnings per share, expected adjusted EBITDA and our expected adjusted EBITDA margin as we are unable to predict with reasonable certainty and without unreasonable effort the impact and timing of any one-time items.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q1 2023
+2.6%
Avg return
Earnings day
-0.9%
Avg return
5 days after
-8.3%
Avg return
30 days after
42%
8 / 19 earnings
Positive
+42.9%
Q4 2024
Best reaction
-15.7%
Q1 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q2 2026 | +1.1% | -60.6% | -63.0% | |
| Q1 2026 | -7.8% | -9.3% | -20.1% | |
| Q4 2025 | -7.3% | -12.9% | -17.5% | |
| Q2 2025 | -9.7% | -12.9% | -26.4% | |
| Q1 2025 | -2.6% | -3.8% | -29.9% | |
| Q4 2024 | +42.9% | +44.6% | +44.6% | |
| Q3 2024 | +2.9% | +2.9% | +6.8% | |
| Q2 2024 | +38.7% | +42.2% | +21.1% | |
| Q1 2024 | -15.7% | -18.1% | -22.5% | |
| Q4 2023 | +7.9% | +7.1% | +14.3% | |
| Q3 2023 | -0.5% | -3.6% | -27.3% | |
| Q2 2023 | -0.7% | -3.4% | -11.8% | |
| Q1 2023 | +15.3% | +12.0% | +3.9% | |
| Q4 2020 | -1.9% | -4.3% | -15.4% | |
| Q4 2022 | -13.6% | -15.3% | -28.1% | |
| Q3 2021 | +12.7% | +16.6% | +13.3% | |
| Q3 2022 | +12.7% | +16.6% | +13.3% | |
| Q2 2022 | -12.6% | -7.7% | -6.2% | |
| Q2 2021 | -12.6% | -7.7% | -6.2% | |
| Q4 2021 | — | — | — | |
| Q1 2022 | — | — | — |
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