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    EMBC   US29082K1051

EMBECTA CORP.

(EMBC)
Delayed Nasdaq  -  05/20 04:00:00 pm EDT
27.75 USD   +2.10%
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Embecta Shares Fall 7.9% on 2Q Results, Revenue Guidance

05/13/2022 | 10:28am EDT

By Denny Jacob


Embecta Corp. shares fell 7.9% to $26.60 in early trading Friday after the company reported second-quarter results and lowered its revenue guidance for the last six months of fiscal 2022.

The medical device manufacturer and distributor logged net income of $79.6 million, or $1.38 a share, for the quarter ended March 31, compared with net income of $107.9 million, or $1.87 a share, in the year-ago period.

Revenue declined to $274.5 million from $284.2 million. The company said the drop was primarily due to unfavorable effects from foreign currency translation in countries with revenues denominated in euros.

The company guided for revenue of $555 million in the last six months of fiscal 2022, a decrease of 7% compared with revenue of $596 million for the last six months of fiscal 2021.


Write to Denny Jacob at denny.jacob@wsj.com


(END) Dow Jones Newswires

05-13-22 1027ET

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Financials (USD)
Sales
Net income
Net Debt
P/E ratio
Yield
Capitalization 1 604 M 1 604 M -
EV / Sales -1
EV / Sales 0
Nbr of Employees 2 029
Free-Float 98,2%
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Managers and Directors
Devdatt Kurdikar President, Chief Executive Officer & Director
Jacob Elguicze Chief Financial Officer & Senior Vice President
David F. Melcher Non-Executive Chairman
Colleen Riley Chief Technology Officer & Senior Vice President
Robert J. Hombach Director
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