Embecta Corp · Q2 2023 earnings

Briefing

Embecta Corp. reported financial results for the second quarter of fiscal year 2023, exceeding internal expectations.

Embecta Corp. reported a revenue increase of 0.9% to $277.1 million, driven by price and volume increases, and contract manufacturing revenue. The company is raising its guidance for key financial metrics.

• Revenues increased by 0.9% on a reported basis and 4.0% on a constant currency basis, reaching $277.1 million.
• U.S. revenues increased by 3.6% on both a reported and constant currency basis.
• International revenues decreased by 1.9% on a reported basis but increased by 4.4% on a constant currency basis.
• The company announced a dividend of $0.15 per share.

Headline financials

Revenue & EPS history

For fiscal year 2023, the Company now expects revenues between $1,101 million and $1,113 million, an adjusted gross margin of approximately 64.5%, an adjusted operating margin of approximately 28.0%, adjusted earnings per diluted share between $2.50 and $2.60, and an adjusted EBITDA margin of approximately 32.5%.