Embecta reports Q3 adjusted EPS 74c, consensus 46c

Reports Q3 revenue $272.5M, consensus $267.43M. “During Q3 our business performed in alignment with our expectations. We generated strong gross, operating and EBITDA margins even as revenue was impacted by the expected timing of customer orders that had positively impacted our second quarter results,” said Devdatt Kurdikar, CEO. “From a year-to-date perspective, our financial results demonstrated the continued resilience and stability of our business. Additionally, I’m proud of the significant strides we have made as an organization in advancing our strategic priorities, including the transition to our own enterprise resource planning (“ERP”) system, shared service capability and distribution infrastructure, which is now complete in most regions of the world. Furthermore, we made progress on our 510(k) application for the open-loop patch pump program. Lastly, given the strong year-to-date performance, coupled with our outlook for the remainder of the year, we are once again tightening and raising our fiscal 2024 outlook for certain financial metrics.”