Embecta Corp. - EMBC STOCK NEWS

Embecta Corp. (EMBC) reported Q4 FY2024 results with revenues of $286.1M, up 1.5%. The company announced significant strategic changes including discontinuing its insulin patch pump program and initiating a restructuring plan expected to generate annual pre-tax savings of $60-65M. The restructuring will incur total pre-tax charges of $35-45M in FY2025. For FY2024, total revenues were $1,123.1M, up 0.2%, with net income of $78.3M. The company provided FY2025 guidance with expected revenues of $1,093-1,110M and adjusted EPS of $2.70-2.90.

Embecta (Nasdaq: EMBC) has announced its Board of Directors has declared a quarterly cash dividend of $0.15 per share of common stock. The dividend will be paid on December 18, 2024 to stockholders of record as of the close of business on December 6, 2024.

Embecta (Nasdaq: EMBC), a global diabetes care company specializing in insulin delivery, has announced it will host a conference call on November 26, 2024, at 8:00 a.m. ET. The call will cover the company's fiscal fourth quarter and full year 2024 financial results, along with an operational update and preliminary fiscal year 2025 financial guidance. Investors can access the event via live webcast or teleconference, with a replay available from 11:00 a.m. ET on the same day through the company's investor relations website for one year.

Embecta (Nasdaq: EMBC) has announced it will host a conference call on Thursday, November 26, 2024, at 8:00 a.m. ET to discuss its fiscal fourth quarter and full year 2024 financial results. The global diabetes care company will also provide an operational update and preliminary fiscal year 2025 financial guidance. Participants can access the event via live webcast or teleconference. A replay will be available from 11:00 a.m. ET on November 21, 2024, through the company's investor relations website for one year.

Embecta (Nasdaq: EMBC) is set to ring the Nasdaq Closing Bell in recognition of National Diabetes Awareness Month, joined by multiple diabetes advocacy and professional groups. The ceremony celebrates the company's 100-year legacy in diabetes care, dating back to 1924 when they developed the world's first insulin-specific syringe.

With approximately 537 million people worldwide living with diabetes, Embecta continues its commitment to improving lives through innovative solutions, partnerships, and education. The event, which will be streamed live on Nasdaq's Facebook page, brings together organizations including ADCES, Beyond Type 1, Camp Nejeda, and The diaTribe Foundation to raise awareness and support for the diabetes community.

embecta (EMBC) has received FDA 510(k) clearance for its proprietary disposable insulin delivery system, designed for both type 1 and type 2 diabetes patients. The system features a tubeless patch pump with a 300-unit insulin reservoir, addressing the needs of type 2 diabetes patients who typically require higher daily insulin doses. This larger reservoir can meet the needs of 64% of adults with type 2 diabetes for three-day wear, compared to only 38% for a 200-unit reservoir.

The system includes a wearable, disposable patch pump and a controller with Bluetooth technology and a color touchscreen. embecta is also developing a closed-loop version with an insulin-dosing algorithm for future FDA submission. This milestone aligns with embecta's strategic priorities and vision of improving life for people with diabetes.

Embecta Corp. (EMBC), a global diabetes care company, has announced its participation in two upcoming investor events. The company will attend the 2024 Wells Fargo Healthcare Conference on September 4, hosting one-on-one investor meetings at the Encore Boston Harbor Hotel. Additionally, embecta will participate in the 2024 Morgan Stanley 22nd Annual Global Healthcare Conference on September 5, where management will host a fireside session at 2:35 p.m. ET at the Marriott Marquis in New York.

These events provide opportunities for investors to engage with embecta's management and gain insights into the company's operations and strategy. Audio webcasts of the presentations will be available on embecta's investor relations website under the 'News & Events' section, allowing wider access to the company's updates and discussions.

Embecta Corp. (Nasdaq: EMBC) reported its third-quarter fiscal 2024 results with revenues of $272.5 million, a decline of 4.8% year-over-year. The gross profit was $190.1 million, with a margin of 69.8%, up from 66.2% a year ago. Adjusted earnings per diluted share reached $0.74, rising from $0.69 in the prior period.

Despite revenue contraction, the company showed stable performance with adjusted EBITDA of $99.2 million, reflecting a 36.4% margin.

For the nine-month period, revenues were $837.0 million, down 0.2% from the previous year. Net income stood at $63.7 million, with earnings per diluted share of $1.10.

Embecta also revised its fiscal 2024 guidance, expecting revenues between $1,111 - $1,116 million, adjusted EPS of $2.30 - $2.35, and an adjusted EBITDA margin of 31.25% - 31.50%.

The company advanced its ERP systems, strategic initiatives, and FDA 510(k) filing for its open-loop patch pump program.

embecta (Nasdaq: EMBC) has announced a quarterly cash dividend of $0.15 per share for its common stock. The dividend will be paid on September 13, 2024 to stockholders of record as of the close of business on August 27, 2024. This decision, made by embecta's Board of Directors, demonstrates the company's commitment to providing regular returns to its shareholders. The announcement reflects embecta's financial stability and confidence in its ability to generate consistent cash flow to support dividend payments.