Emergent BioSolutions Q2 revenue $338M beats guidance; net loss $261M on $307M impairment; FY guidance cut

Emergent BioSolutions Inc.

2023-Q2 EPS reported -$8.80 revenue$503,000,000

Q2 total revenues $338M vs. prior guidance range; net loss $261M ($5.15 diluted EPS) on $307M CDMO asset impairment.
Adjusted EBITDA of $56M improved from $(29)M a year ago; adjusted net loss per share $1.06.
FY 2023 revenue guidance revised to $1.0-1.1B (from $1.1-1.2B); adjusted EBITDA cut to $50-100M from $100-150M.
CEO transition: Haywood Miller appointed interim CEO after Robert Kramer retired; FDA approved CYFENDUS anthrax vaccine.
Sale of travel health business to Bavarian Nordic for up to $380M closed; 10-year BARDA contract for Ebanga Ebola treatment.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Emergent BioSolutions Inc. reported the second quarter ended June 30, 2023 results: revenue Total Revenues $337.9, net income Net Loss $(261.3), EPS Net Loss per Diluted Share $(5.15).

Period: the second quarter ended June 30, 2023
Revenue: Total Revenues $337.9
Net income: Net Loss $(261.3)
EPS: Net Loss per Diluted Share $(5.15)
Result: reported results

Exact text from the filing

by specific reference in such a filing. --- EX-99.1 (EX-99.1) --- EMERGENT BIOSO LUTIONS REPORTS FINANCIAL RESULTS FOR SECOND QUARTER 2023 • Reports Q2 2023 total revenues of $338M, above the prior guidance range, net loss of $261M and adjusted EBITDA of $56M • Updates FY 2023 guidance and provides initial Q3 2023 forecast for total revenues GAITHERSBURG,

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Source: SEC EDGAR

accession 0001367644-23-000152

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