Embecta (Nasdaq:EMBC) shares ticked up before hours today on first-quarter results that came in ahead of the consensus forecast.
Shares of EMBC rose 1.65% to $18.50 apiece in pre-market trading today.
The Parsippany, New Jersey-based diabetes technology company reported profits of $157.1 million. That equals $0 per share on sales of $261.9 million for the three months ended Dec. 31, 2024.
Embecta recorded a 15.5% bottom-line slide on a sales decrease of 5.6%.
Adjusted to exclude one-time items, earnings per share came in at 65¢. That landed 21¢ ahead of expectations on Wall Street. Sales also beat the estimates as experts forecast $256.1 million in revenue.
“Building on our momentum from 2024, Embecta began the year with solid performance,” said Devdatt (Dev) Kurdikar, Embecta CEO. “We remain on track to complete the restructuring plan associated with the discontinuation of the insulin patch pump program by the end of the first half of the fiscal year and are preparing to launch our brand transition plan in the second half, beginning in the U.S. and Canada. Additionally, we continue to make progress on our GLP-1 initiatives targeted to make it easier for patients to access our pen needles for use with GLP-1 pen injectors.
“Given our first-quarter performance and outlook for the remainder of the year, we are updating our guidance — adjusting our revenue outlook solely due to changes in foreign exchange assumptions but still raising expectations for certain key financial metrics. Looking ahead, we are excited to share our long-term strategy for the business, as well as a multi-year financial outlook, at our Investor and Analyst Day in late May 2025.”
Embecta expects 2025 adjusted EPS to range between $2.70 and $2.90. It lowered its sales guidance from $1.093 billion to $1.11 billion to $1.075 billion to $1.092 billion.
