Embecta Shares Rise After Fiscal Q3 Beat; Fiscal 2024 EPS Guidance Raised

MT Newswires Live08-10

Embecta (EMBC) shares were up nearly 6% in recent trading on Friday after the company's fiscal Q3 results topped market expectations and raised its 2024 EPS guidance.

The company reported fiscal Q3 adjusted earnings of $0.74 per diluted share, up from $0.69 a year earlier.

Analysts polled by Capital IQ expected $0.46.

Revenue for the quarter ended June 30 was $272.5 million, down from $286.1 million a year earlier.

Four analysts surveyed by Capital IQ expected $267.4 million.

The company said it now expects fiscal 2024 adjusted EPS of $2.30 to $2.35 per diluted share, up from its prior guidance of $2.20 to $2.30. Analysts polled by Capital IQ expect $2.28.

The company's revenue guidance for the fiscal year remained unchanged at $1.11 billion to $1.12 billion. Analysts surveyed by Capital IQ expect $1.11 billion.

Price: 15.19, Change: +0.85, Percent Change: +5.93

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