NASDAQ$EMBC
Embecta Corp · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Embecta reported strong financial results for Q1 2024, exceeding expectations and transitioning a significant portion of revenue to its own ERP system.
Embecta Corp. reported a revenue increase of 0.6% to $277.3 million in Q1 2024. The company also progressed on strategic priorities, including the 510(k) filing of its open-loop patch pump with the FDA and raised its guidance for certain key financial reporting metrics.
- Revenues increased 0.6% to $277.3 million, but decreased 0.3% on a constant currency basis.
- The company transitioned approximately sixty percent of its revenue to its own ERP system, shared service capability and distribution infrastructure.
- A 510(k) premarket filing was submitted for the open-loop insulin delivery system with the U.S. Food and Drug Administration.
- Fiscal year 2024 revenue guidance was updated to $1,094 - $1,116 million.
Headline financials
Revenue & EPS history
Embecta · Revenue · Quarterly
$277M
Forward guidance
For fiscal year 2024, the Company now expects revenues of $1,094 - $1,116 million, adjusted gross margin of 63.0% - 64.0%, adjusted operating margin of 23.75% - 24.75%, adjusted earnings per diluted share of $1.95 - $2.15 and adjusted EBITDA margin of 29.5% - 30.5%.
Tailwinds
- Revenue: $1,094 - $1,116 million
- As Reported (%): (2.4%) - (0.4%)
- Constant Currency (%): (2.0%) - 0.0%
- Adjusted Gross Margin (%): 63.0% - 64.0%
- Adjusted Operating Margin (%): 23.75% - 24.75%
Headwinds
- F/X (%): (0.4)%
- Contract Manufacturing: $2 - $5 million
- Adjusted Earnings per Diluted Share: $1.95 - $2.15
- Adjusted EBITDA Margin (%): 29.5% - 30.5%
- Previous Revenue: $1,085 - $1,105 million
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 2024
+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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